$125,000,000 Mark Reached By Bank Freedom In Prepaid Debit Card Transactions

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Bank Freedom, a wholly owned subsidiary of Prepaid Card Holdings, Inc. (Pink Sheets: PPDC), announced today that the company had processed approximately $125,000,000 in prepaid debit card transactions as of March 31, 2010 which is the end of the company's second full year as a prepaid card debit card company.

Bank Freedom offers a branded general purpose reloadable prepaid debit card for consumers at its website www.BankFredom.com. The company also offers small business owners branded reloadable prepaid expense cards for their company’s employees as well as reloadable branded payroll debit cards. Bank Freedom also co-brands private labeled card solutions for large institutions. Business owners can log on to the company’s business website at www.BankFreedom.Biz

About Bank Freedom

Bank Freedom^®, a wholly owned subsidiary of Prepaid Card Holdings, Inc. is a leading provider of financial services in the prepaid card industry. The company, under its Bank Freedom brand, offers prepaid debit cards to America’s estimated 60 million underbanked citizens. The company also provides co-branding program management services and is the program manager for the AFSCME^® Advantage Prepaid Debit card, a 1.6 million member union. In addition to the underbanked consumer demographic; small, medium, and large businesses have found a much needed product with the company’s Prepaid Business Expense Card Program. With the diminishing credit card markets, companies need a new way to fund employee’s expenses other than through traditional credit cards or cash reimbursements. For more information about Bank Freedom visit www.BankFreedom.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 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.