Net Element Appoints Howard Ash to Its Board of Directors

6/17/16

Net Element, Inc. (NASDAQ: NETE), a provider of global mobile payment technology solutions and value-added transactional services, announced today that Howard Ash has been appointed to the Net Element's Board of Directors effective June 13, 2016, and will serve as the Chairman of the Audit Committee and member of the Compensation, Nominating and Corporate Governance Committees.

Mr. Ash is an accomplished executive who served as C-level executive for a variety of high profile, international companies, including Israel Export Development Corporation, CITA Americas, BioCard Corp., IEDC Marketing and Abrams, Ash & Associates. In addition, Mr. Ash started an interest-free micro-loan society in 1987 that has provided more than $15 million in micro-loans throughout the United States and Israel.

Mr. Ash currently serves as the Chairman of Claridge Management, a private finance company, as well as a member of multiple boards of directors domestically and internationally. In addition, Mr. Ash is the only non-UK citizen serving on the Advisory Board of the E2Exchange, the Institute of Entrepreneurs. Mr. Ash is active with multiple non-for-profit and charitable organizations including One Laptop Per Child and Circle of Life Resource Center, Inc., a food bank in Miami, Florida that feeds several hundred families per week.

Mr. Ash earned a Bachelor of Commerce degree, with Honors in Accounting and Law from the University of Witwatersrand (South Africa) and a Bachelor of Accounting Honors degree from the University of Witwatersrand (South Africa).

"I am pleased to have Howard join our Board of Directors," commented Oleg Firer, CEO of Net Element. "Mr. Ash's extensive international experience as a business and finance executive and member of multiple boards of directors, provides him with the necessary skills to be qualified to serve as a director of the Company."

"I am excited to join the board of Net Element," commented Howard Ash. "Net Element is a rapidly growing international company and I look forward to adding value to its growth as well as assisting in forging relationships in the emerging markets."

About Net Element

Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise ("SME") in the US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element's strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.

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