Robert J. Cox has accepted appointment as Chief Financial Officer and Treasurer and Seth Asofsky, currently the Company's CFO, will assume the role of Senior Vice President, US Region.

Cox will report to Philip Beck, Chairman and Chief Executive Officer of Planet Payment and will oversee the Company's global accounting and treasury functions, financial planning and analysis. Cox will assume the role at the end of the year. Seth Asofsky, who has held the position of Chief Financial Officer since October 2003, will take over responsibility for United States business and strategy and continues as a member of senior management, also reporting to Mr. Beck.

Cox, 44, most recently served as Executive Vice President, Chief Financial Officer and Treasurer at Harris Interactive, the NASDAQ listed global custom market research firm. "Bob is a seasoned financial executive who brings strong financial, operational, and broad based business skills, as well as corporate transactional experience," said Beck. "With Bob's track record of managing high growth with profitability, I am looking forward to his contributing significantly to the next phase of the Company's global growth."

"This is an exciting time for Planet Payment," said Cox. "Its continuing technological innovation and strong customer pipeline make a very powerful combination for driving the Company towards sustainable profitability. I am very pleased to be joining the Company at this stage in its development."

Prior to working at Harris Interactive, Cox was the Senior Vice President, Chief Financial Officer and Treasurer of DealerTrack Holdings, Inc., a publicly traded provider of on-demand software and data solutions for the automotive retail industry. Cox served in the top finance role at DealerTrack for nearly eight years. During his tenure, revenue at the company grew from $1 million to over $240 million through a combination of organic growth and acquisitions. Prior to DealerTrack Cox held senior financial positions at Triton International Inc., and Green Stamp America Inc. He began his career in the audit practice at KPMG LLP. Cox holds a Master of Business Administration, Finance from Columbia University Graduate School of Business and a Bachelor of Business Administration, Accounting from St. Bonaventure University, and is a New York State Certified Public Accountant.

Seth Asofsky has acted as Planet Payment's CFO during its critical growth phase and its maturation from a private company start-up to a publicly traded, full service, registered third party processor, now operating in 10 countries around the world. During his tenure, the Company achieved its first quarters of EBITDA profitability and put itself firmly on the road to positive cashflow.

"Seth's experience and depth of knowledge of the financial operations of the Company will stand him in good stead in his new role" said Beck. "The cross-fertilization of skills and knowledge of the Company's management team across different areas of the business is a key part of our development."

"The opportunity to take over responsibility for one of our foremost business areas, is tremendously exciting and a challenge I'm looking forward to," added Asofsky. "The United States is one of the most important markets for the Company's solutions and we look forward to achieving the same kind of growth in our US business that we have seen in other regions"