ChronoPay B.V., the industry leader in credit card's payments processing is proud to announce the opening of its new offices in Barcelona, Spain and Riga, Latvia.

Located downtown of Riga, our new Baltic office will deal with questions related to ChronoPay's activity in this region.

"The opening of the office in Riga is one of several steps being taken to expand ChronoPay's presence in Baltic region as well as to facilitate our collaboration with Baltic financial institutions and partners," said Denis Nazarov, Director of Communications at ChronoPay. "It's obvious that local offices have all advantages to meet precisely customer's requirements related to payment processing services. Also the new office will certainly improve the cooperation with our key partners in this region."

Maris Fenhans has been appointed as the office supervisor. Mr. Fenhans has more than eight years of successful experience in some of the largest Lithuanian banks. Among his achievements is the organization of the sales of bank products over the Internet for one of the biggest banks in Latvia, the JSC Parex Bank. In his new position for ChronoPay, Mr. Fenhans has teamed up with Mr. Sotin, Head of Banking E-commerce Production Manager to establish a convenient and clear environment for ChronoPay and its partners in the Baltic region which will definitely have a positively affect on the services ChronoPay B.V. renders currently.

ChronoPay Baltic office is located:
Valdemara centrs
21 Kr.Valdemara Street
Riga, LV 1010, Latvia
Office #6040

Phone: +371 7035 224
Fax: +371 7035 252

ChronoPay B.V. is also glad to announce that we have just opened a new office in the city Barcelona in Spain. Our brand new Spanish office is located in the World Trade Centre, nearby the beautiful port of Barcelona. The new office will support our activity in the Spanish region and provides sales and strategic product support to customers and prospects, and the development of corporate relationships between ChronoPay and Spanish acquiring organizations.

"The decision to establish our presence in Spain is consistent with our marketing strategy and the desire to set up a permanent presence closer to the markets we serve. As an Online Payment Services Provider specialized in providing European merchant accounts and IPSP solutions for merchants incorporated in EU region, a strong European presence is of vital importance and a necessity", said Mr. Nazarov. "The establishment of local offices throughout Europe form an essential part of our growth strategy throughout Europe. By opening this new office we are better able to serve the whole Spanish market".

Country manager Xavier Olive, who has been hired for this position, will be responsible for the establishment of new business-processes aimed to increase number of our corporate clients as long as the business in all online market segments in Spain. Mr. Olive has been working for more than ten years in the Internet Industry. Prior to ChronoPay, Xavier Olive was the Managing Director of Terceros de Confianza, an Internet Company who certifies and saves online transactions and electronic contracts. He will bring his priceless marketing and sales experience to ChronoPay's multinational team.

ChronoPay Spain office is located:
World Trade Center
Muelle de Barcelona, s/n, Edificio Norte,
6^a planta 08039 Barcelona

Phone: + 34 93 508 80 44
Fax: + 34 93 508 80 45