ChronoPay, B.V. a leading Online Payment Services Provider, announced the expansion of its workforce and the opening of two new offices to support the substantial growth the company experienced in 2005.

ChronoPay is pleased to announce the addition of five new employees - Louisa Verhulsdonck, Svetlana Lavrichenko, Xavier Olive and Maris Fenhans - to its team of talented professionals.

Louisa comes on in the position of Sales Assistant, for which she has extensive experience at a major bank in The Netherlands. Eric and Louisa will join the professional staff in ChronoPay's office headquarters in The Netherlands.

Mrs. Lavrichenko joins ChronoPay as Account Manager in the Finance Department and will work out of the company's Russian office. Svetlana previously spent two years in the International Tax Services Department of PricewaterhouseCoopers Russia. At ChronoPay Svetlana will advise clients on payment and financial issues and will assist in the management and control of matters related to debtors and creditors.

In a further effort to bolster its support capabilities as the company experiences tremendous international growth, ChronoPay announces the opening of two new offices in Spain and Latvia. Xavier Olive will be the Country Manager for the Spanish office and will be responsible for building and expanding the business in all Online market segments in Spain.

Maris Fenhans has been hired as Country Manager in the Latvian office, where he will supervise the activities in the Baltic States, Latvia, Lithuania and Estonia.

"This is an exciting time for ChronoPay, as we expand our international support structure, positioning the company for record growth in 2006", said Ivan Glazachev, ChronoPay's Director of Business Development. "We have brought on board a group of talented individuals to take on key roles as we accelerate the expansion of our business operation internationally".