Lightbridge, Inc. and Payment Services Interactive Gateway Corp. Jointly Announce Lightbridge's Intent to Acquire Shares of PSiGate

    Lightbridge to Expand Authorize.Net's Payment Offerings into Canada

    MARLBOROUGH, MA and MISSISSAUGA, ON, April 23 /CNW/ - Lightbridge, Inc.
(NASDAQ:   LTBG) and Payment Services Interactive Gateway Corp.
(PSiGate)(TSXV:PSG), jointly announced today that they have entered into a
non-binding letter of intent (LOI) whereby Lightbridge will acquire all of the
outstanding shares of PSiGate of Mississauga, Ontario. Lightbridge and PSiGate
also entered into an agreement providing for exclusivity until June 15, 2007.
    The LOI provides that the acquisition will be an all cash transaction
valued at approximately C$1.55 per share with maximum consideration of
C$17.825 million. The LOI also provides that the acquisition is subject to
customary closing terms and conditions. Total revenue for PSiGate was
approximately C$4.2 million for its fiscal year ended December 31, 2006.
    Bob Donahue, Lightbridge President and CEO stated, "We are pleased to
have signed this letter of intent with PSiGate. Their secure transaction
processing platform services the Canadian and US markets, and the acquisition
is a major step towards our goal of expanding our payment processing
capability outside the US. In addition, the PSiGate platform brings us one
step closer to our strategic vision of offering one-stop shopping for our
merchants by being able to support their internet commerce needs in the US and
    Anthony Palumbo, President and CEO of PSiGate added, "We are looking
forward to becoming part of Authorize.Net, one of the industry's leading
online payment processing services. The blending of the two companies is a
natural and complementary fit, which we believe creates a strong single entity
well positioned to meet the credit card processing needs for merchants across
the US and Canadian markets."

    About Lightbridge and Authorize.Net

    Lightbridge's ( payment processing business,
Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment
gateway solutions that enable merchants to authorize, settle and manage
electronic transactions anytime, anywhere, via Web sites, at retail, mail
order/telephone order (MOTO) call centers and on wireless devices. In addition
to its payment solutions, Authorize.Net offers extensive value-add products
and services designed to help merchants manage their business, fight fraud,
and improve profitability. Authorize.Net is sold through an extensive network
of distribution partners that offer its industry leading payment services to
their merchant customers.

    About PSiGate

    PSiGate ( empowers businesses on the Internet by
providing secure, cost-effective and trusted e-commerce solutions. PSiGate
provides an easy and seamless interface to new or existing online storefronts,
offering a reliable means of both real-time and batch payment collection and
financial transaction processing. PSiGate provides Internet Merchant Accounts
(Merchant IDs) for North American based businesses. As at the date of this
press release, the Company has 10,554,469 common shares outstanding.

    AUTHORIZE.NET, LIGHTBRIDGE, the Lightbridge logo are registered
trademarks of Lightbridge, Inc. All other marks are the property of their
respective owners.

    Forward-looking Statements

    Certain statements in this news release that are not historical facts,
including, without limitation, those relating to the Company's strategic
vision, goals, products, services, markets, and growth prospects including,
without limitation, its goal of expanding its payment processing capability
outside the U.S., its strategic vision of providing one-stop shopping to
merchants, and the market position of the combined Lightbridge and PSiGate
entity are forward-looking statements that involve risks and uncertainties.
Such statements are based upon the current beliefs and expectations of the
management of the company. Actual results may vary materially from those
contained in forward-looking statements based on a number of factors
including, without limitation, (i) the Company's revenue concentration in the
payment processing business, (ii) continuing rapid change in the payment
processing industry and other markets in which the Company does business that
may affect both the Company and its customers, (iii) the impact of competitive
products, services and pricing on both the Company and its products and
services, (iv) market acceptance of the Company's new or enhanced products,
services, technologies, including the PSiGate's products and services, (v)
current and future economic conditions generally and particularly in the
payment processing industry, (vi) uncertainties about the Company's ability to
execute on, and about the impact on the Company's business and operations of,
its objectives, plans or strategies as a result of potential technological,
market or competitive factors, (vii) the impact of compensation expense,
restructuring, asset impairment and other charges on the Company's business
and operations, (viii) integration, employee retention, recognition of cost
and other benefits and revenue synergies, and other risks associated with
acquisitions, including the acquisition of PSiGate (ix) the industry risks
associated with Authorize.Net's business and operations including, without
limitation, illegal or improper uses of Authorize.Net's payment system,
unauthorized intrusions and attacks on Authorize.Net's payment system that may
impair the operation of its payment systems, changes in or failures to comply
with credit card association rules and governmental regulations, changes in
the application of existing laws and the impact of new laws, and dependence on
relationships with resellers, certain financial institutions and third party
payment processors, and (*) the factors disclosed in the Company's filings with
the U.S. Securities and Exchange Commission including, without limitation, its
Annual Report on Form 10-K, and other public filings. The Company undertakes
no obligation to update any forward-looking statements.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Lightbridge, Inc., please contact Lynn Ricci,
at (508) 229-3216, or, or access our websites at or; For more information
on Payment Services Interactive Gateway Corp., please contact Anthony Palumbo,
at (905) 567-4000, ext. 241

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