Awards and Volume for Elephant Talk (OTC:ETAK)

Oxford, MS 5/25/2011 (PennyPayDay) -- ValidSoft, a global supplier of fraud prevention, authentication and transaction verification solutions, announced today, in a press release, that it has been awarded the 2011 European Mobile Identity Authentication New Product Innovation Award by Frost & Sullivan, a business research and consulting firm with over 50 years of experience. ValidSoft is a wholly-owned subsidiary of Elephant Talk Communications (OTC:ETAK), an international provider of business software to the telecommunications and the financial industry.

Dr. Sudeep Basu, Practice Leader, Innovation Services - Technical Insights, from Frost & Sullivan, said: "ValidSoft was recognized for its outstanding technological credentials and professional demonstration of the product's capabilities. In the years to come, we expect to see ValidSoft cement its position as an essential tool in the battle against fraud."

VALid-POS is a telecommunications-based, security solution designed to combat fraud related to the use of ATMs or point of sale transactions. It does this using Proximity Correlation Logic (PCL), which assesses the proximity of a card transaction to the cardholder's mobile phone in order to decide whether or not a transaction is likely to be fraudulent. It was recognized for implementing the latest telecommunications-based technology to create a solution which helps banks to effectively overcome potential fraudulent transactions, as well as dramatically improve customer experience.

VALid-POS was awarded the EuroPriSe European Privacy Seal (in March 2010), certificating compliance with the highest privacy standards based on European data protection regulations that are recognized globally. The Frost & Sullivan award further strengthens VALid-POS as a leading fraud prevention product.

ValidSoft's products can protect against the most sophisticated types of fraud. ValidSoft's solutions essentially use what customers have -- a mobile handset. Increasingly, the mobile phone is becoming the main device for everyone to carry out transactions and communicate with. The mobile phone is the device of choice for all.

Pat Carroll, founder and CEO of ValidSoft, said, "This award is a significant milestone towards the endorsement of ValidSoft and one of our key solutions by the industry. To be recognised by such a well respected organisation is an excellent achievement. We are confident ValidSoft is set to redefine the prevention of card-related fraud and dramatically reduce both cross-border and domestic fraud around the world. We are well placed to capitalise on the market opportunities that exist."

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