lists as "epy" on january 4th

Completion of Capital Raising and Acquisition
SYDNEY 28 December 2005: e-pay Asia Limited (ASX:EPY, AIM:EPY), formerly known as
SkyNetGlobal Limited, today announced it has successfully completed its capital raising and
the acquisition of Orion Gateway Limited and its holding in the various e-pay subsidiaries.
The capital raising raised a total of $4,008,151 through the issue of 20,040,755 new ordinary
shares at 20 cents each.
The Company is currently completing the process to re-list on the
ASX and AIM, which is expected to occur simultaneously on 4 January 2006 under the new
stock code EPY.
In accordance with the terms of the Acquisition announced previously, the Company has
issued 140,000,000 new ordinary shares to Tobikiri Capital Limited and its nominees as
payment for the initial consideration of $28 million. 100 million of them are subject to
voluntary escrow requirements and may not be generally traded on ASX before the date of
publication of the audited annual accounts of the Company for the period ending 31
December 2006.

Mr Simon Loh, the Managing Director of e-pay has been appointed to the Company's board
as Managing Director of the enlarged group. Jonathan Soon, the former CEO of the
Company, remains on the board and has been appointed Executive Director, Corporate
Affairs, a new position within the Company responsible for corporate matters such as
acquisitions, mergers, capital raising and investor communications.

As of today, the Company has a total of 190,405,896 ordinary shares on issue and will have a
market capitalisation of $38,081,189 based on the capital raising price of 20 cents per share.
The Company has changed its financial year period from ending June to ending December
and will report its next financial accounts in March 2006 for the 6 months period ending 31
December 2005.

The Company forecasts net earnings of $5,000,000, and a dividend of 1 cent per share for
the calendar year 2006 being the first 12 months of consolidated trading post the acquisition
of e-pay. The Company is priced at approximately 7.4 times these forecast earnings with a
5% dividend yield based on the capital raising issue price.

The Directors are pleased to have completed the capital raising and acquisition in line with its
timetable and plans to transform the Company into a leading provider of electronic payments
and mobile top up services in Asia.

End
Contact Information:
Jonathan Soon
Executive Director, Corporate Affairs
Email: [email protected]
Tel: +61 416 168 816