EGOLD UPDATE CUSTOMER IDENTIFICATION IDENTITY DOCUMENT

Updated: 10/20/2008 16:06
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egold Ltd. is pleased to announce the deployment of the next phase of its enhanced Customer Identification Program CIP All e-gold account

e-gold Ltd. is pleased to announce the deployment of the next phase of its enhanced Customer Identification Program (CIP). All e-gold account Users are now required to submit documentation of identity and residential address. Each User must provide a Government issued photo ID and a second document, such as a utility bill, showing the address they supplied as part of their Point of Contact information. Images of the required documents can be electronically uploaded to the e-gold website. Document review will occur as rapidly as possible and we continue to ask for the patience of our customers, especially initially, as Customer Service staff works through the avalanche of data from existing e-gold Users.

As part of the e-gold Account provisioning process, e-gold now uniformly obtains the four essential identifying elements for a compliant CIP: the User's name, address, date-of-birth, and a government-issued personal identifying number such as a tax ID number. This latest system enhancement supports e-gold's ability to verify this data by either (or both) documentary or(/and) non-documentary means, and represents a significant milestone toward e-gold attaining full compliance with all applicable U.S. laws and regulatory requirements. Of equal significance, e-gold's robust CIP and impending Due Diligence procedures will aid in making e-gold a more secure environment for global eCommerce.

As previously noted, Users located in selected jurisdictions may also experience additional service disruptions as licensing issues are sorted out or, in the case of countries identified as posing an increased risk of online criminal activity, until additional systematic risk-based Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) measures can be implemented.

e-gold Ltd. remains highly committed to offering a cost effective Internet payment system affording instantaneous settlement, free of chargeback risk, to customers around the world. We continue to be confident that a regulated e-gold rebuilt to a more systematic specification will be less hospitable to criminals, and more attractive to mainstream business use without being less accessible to those disregarded by legacy payment systems.


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