Prepaid Card Holdings, Inc. CEO Bruce Berman Voluntarily Waives His Salary for 2008, Gives Back 106 Million Shares of Stock and Reduces Note Payment Due Him to Help Company

Prepaid Card Holdings, Inc. (Pink Sheets:PPDC) announced today that its CEO, Bruce Berman, voluntarily waived his salary for the entire year of 2008. This comes on the heels of Mr. Berman and Prepaid Card Holdings, Inc. COO Robert Christiansen canceling 127,500,000 of their shares of Prepaid Card Holdings, Inc. and returning them to treasury. Unlike Lehman Brothers (OTC:LEHMQ.PK) Richard Fuld, who is purported to have earned hundreds of millions of dollars in the last five years, Prepaid Card Holdings, Inc.'s CEO and COO increased their shareholders' stake in the company by 32.1% at management's personal expense.

Bruce Berman, CEO of Prepaid Card Holdings, Inc., stated, “To facilitate the Company’s growth, senior management made personal sacrifices in pay cuts, bonus cuts and stock cancellations. I challenge Richard Fuld to give back one year of his compensation. I’m living on credit lines and savings and would like to see more CEOs act in this manner for the good of this country.”

Bruce Berman continued, “Our companies’ business model and mission statement is about helping the estimated 100,000,000 underbanked Americans with an alternative low cost banking solution at a time when every penny counts to every American. These average Americans have been taken advantage of by corporate America for years. Who would believe that our company philosophy is to give everyone a fair shake and great value if I as a CEO was sucking all the cash and equity out of our company?”

About Prepaid Card Holdings, Inc.

Prepaid Card Holdings, Inc. through its wholly owned subsidiaries offer emerging prepaid card solutions that can act as a card account and payment solution for those people who do not use banks or credit cards. According to market data available, there are between 40 and 80 million people in the United States who don't have a bank account or who can't qualify for a credit card because their credit scores are too low. This is called the underbanked or unbanked market. For the unbanked or underbanked, the evolution taking place with prepaid cards can replace their reliance on check cashing centers, money orders, and the inability to buy certain products that require a major credit card.

For further information contact Bruce Berman at 877-237-6260 ext. 128 or visit the Company website at www.PrepaidHoldings.com.

FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties and the Company assumes no obligation to update any of the forward-looking statements in this release.