Net Element CEO Honored With Best In Biz Award

MIAMI, Nov. 27, 2013 (GLOBE NEWSWIRE) -- Net Element International (Nasdaq:NETE), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States of America, is pleased to announce that its CEO has been honored with a Bronze medal in the Best in Biz Awards in the Executive of the Year category. The Best in Biz Awards is an independent business awards program judged by members of the press and industry analysts.

Oleg Firer is a seasoned executive with deep knowledge and experience in payment processing. After a number of years in the wireless and data communications industry, in 2002 Mr. Firer focused his efforts in the payments business and successfully developed high growth strategies in the industry utilizing both direct and indirect sales channels. In 2007, Mr. Firer led a payments industry focused private equity group and formed Unified Payments, which generated annual revenues of over $60 million in 2012 and was recognized by Inc. Magazine as the fastest-growing company in 2012.  In addition, in 2012 Unified Payments was honored as Gold medal winner in Best in Biz Awards and was named the Fastest Growing Company of the Year.

The third annual Best in Biz Awards program, focusing on companies based or operating in North America, was stated by the program organizers as the most competitive in its history, with the highest number of awards submissions to date.  More than 500 entries were received this year, from a wide array of public and private companies of all sizes and from a variety of industries and geographic regions in the U.S. and Canada. Best in Biz Awards 2013 honors were presented in more than 50 categories, including Company of the Year, Fastest-Growing Company of the Year, Most Innovative Company of the Year, Best Place to Work, Technology Department of the Year, Executive of the Year, Most Innovative Product of the Year, Best New Product of the Year, PR Campaign of the Year and Website of the Year.

"I am of the firm belief that even an exceptional CEO would fail without the support of a passionate, knowledgeable and professional team that possess extraordinary skills," said Oleg Firer, Net Element CEO. "We are fortunate to have such a group that inspire and challenge one another to make a difference every day."

Winners of Best in Biz Awards 2013 were determined by an independent panel of 50 judges from top-tier news, business and technology publications, as well as broadcast outlets and analyst firms, such as Accounting Today, Arizona Daily Star, Atlanta Tribune, Bloomberg BusinessWeek, Cascade Business News, Chicago Tribune, Chip Design Magazine, Computerworld, Crain's New York Business, CRN, Dallas Morning News, Dayton Business Journal, Detroit Free Press, ECT News Network, Entrepreneur, eWeek Channel Insider, Executive Travel Magazine, Fast Company, Financial Times, Fortune, Hartford Business Journal, Hartford Courant, Inc. Magazine, King Features Syndicate, Lab Reviews, Law Technology News, Miami Herald, Memphis Business Journal, Network World, NorthBay Biz, Orange County Register, PC Magazine, Phoenix Business Journal, Pittsburgh Business Times, Prairie Business Magazine, Quad-City Times, Reuters, San Francisco Chronicle, San Jose Mercury News, Savannah Morning News, Small Business Digest, South Florida Business Journal, Tech.Blorge, Tech-Gaming, Times (Munster, Indiana), Upstart Business Journal and USA Today.

"What impressed me the most about the winning entries was the way their business plans were geared toward filling real voids in our communities," said Best in Biz Awards judge Evan S. Benn, staff writer at the Miami Herald.  "While they all have sound investment platforms, none of the winning plans are get-rich-quick schemes that will only serve investors. They have developed products, tools and ideas that will truly help improve the way we function."

For a full list of gold, silver and bronze winners in Best in Biz Awards 2013, visit: http://www.bestinbizawards.com/2013-winners.

About Net Element International (Nasdaq:NETE)      

Net Element International (Nasdaq:NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012, Aptito, a next generation cloud-based point of sale payments platform, and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Beeline, Russia's second largest telecommunications operator. Together with its subsidiaries, Net Element International enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com.

About Best in Biz Awards

Best in Biz Awards recognizes top companies, teams, executives and products for their business success as judged by established members of the press and industry analysts. Best in Biz Awards honors are conferred in three separate programs annually: North America, EMEA, and International. For more information about the entry process and categories in the EMEA program, please visit: http://emea.bestinbizawards.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Net Element International or its business continues to grow. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element International and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element International's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element International's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element International's ability to successfully expand in existing markets and enter new markets; (iv) Net Element International's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element International's business; (viii) changes in government licensing and regulation that may adversely affect Net Element International's business; (ix) the risk that changes in consumer behavior could adversely affect Net Element International's business; (x) Net Element International's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element International with the Securities and Exchange Commission. Net Element International anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element International assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
CONTACT: MEDIA CONTACT:         Dan Bruck         dbruck@netelement.com         (305) 507-8808         www.netelement.com