Planet Payment Reports First Quarter 2011 Results

TOTAL REVENUE INCREASES 67%MULTI-CURRENCY REVENUE INCREASES 85%Long Beach, NY May 16, 2011 - Planet Payment, Inc. (UK: LSE:AIM: PPT and PPTR; USA: OTCQX: PLPM), a leading international payment processor, today announced its results for the three month period ended March 31, 2011.  During the first quarter of 2011 the Company continued to deliver solid results.  Total revenue was up 67% to $22.0 million (Q1’10: $13.2 million), with multi-currency revenue up over 85% to $18.6 million (Q1’10: $10.0 million).  Gross profit for the quarter increased 65% to $6.7 million (Q1’10: $4.1 million).