Dear account's holders,

Due to some problems of our Bank and Credit Card Merchant we are forced to reject the deposits through bank wire, credit/debit cards and the direct bank wire withdrawals.

We had lots of transactions in the first six months of 2009 and our Bank thinks that we can make illegal business because they are not capable to monitorize all transactions due to the new International Rules against money laundering, so they will close our bank accounts on August 01, 2009. But don't worry, all your money is safe because we are taking for another offshore jurisdiction.

This doesn't mean that we are money launderers, it means that they can't support our growing business.

All bankers, financiers and money institutions are really worried with money laundering or racketeering schemes and we knew it. As you know we had a KYC program, policies to fight against these activities and a back-stage software to monitorized the system searching suspicious activities among the account's holders of HooPay.

It was not enought for them, they think that the Costa Rican people and companies are outlaws...In fact it is the opposite, we are living in one of the best countries in Central America, but it's always the innocent who pays for the sins of the sinners.

What I'm telling is the truth. I could tell you a plot story totally false like we are going to close the credit card deposits because we have a high level of fraud, or tell you nothing, only silence, and dissapear with your money like others... But I'm not interested. I'm used to tell the truth in all of my life's facets. I want to tell the truth to all our customers (who by the way will be near the excellent sum of 12000 on August). And for all this, I am the Chairman of the Board of this company. The shareholders trusted me because they knew about my profesionalism, my business and personal life. They wanted a person in charge who knew the business, but the most important thing they looked for was integrity.

Reading these lines you will notice that I am really disapointed with this decision. Yes, I am upset and bothered but it is not the end of the story. It is a new page of the book. We will continue with the business in HooPay, in new ways, with new formulas and new people working to search for the best solutions for the growing companies that we serve.

We have a new structure of banking accounts, we have an excellent deal with our current bank but they put some conditions like making less bank wires monthly.
You are used to do transactions with exchange companies over the Internet, it's common to buy/sell ecurrencies through these fabulous companies and we though that it is the solution for HooPay.

HooPay worked with exchange companies in the past but it was not a great business for them because we had another methods to withdraw and deposit so both parts didn't get the oportunity to grow and cultivate the business.

From now on it will be different, we are working to achieve a good portfolio of exchange companies to offer you. In the next days and weeks we will inform you about the new partnerships.

Until August 01, 2009 you can withdraw or deposit through Bank wire directly if you want. When August 01 arrives we will close both features and the transactions will be submited to the exchange companies.

Don't hesitate to contact us if you have any question, we are here to help you.

And remember that HooPay is your company, you are the person who maintain this dream, for that we are sinceres, because you deserve it.

Alejandro Casanova
Chairman of the Board
HooPay Asset Management S.A.