Blackhawk Network Acquires Cardpool

Gift card exchange website expands recipient options in time for the holiday season

PLEASANTON, CA – October 21, 2011 Blackhawk Network, a leading provider of prepaid and financial payments products for consumers and businesses, announced the acquisition of Cardpool, the fast-growing gift card exchange company where consumers can buy, sell and trade gift cards.

Cardpool connects gift card holders around the world to create a gift card exchange marketplace where customers can buy, sell, or trade gift cards safely and securely.

“Blackhawk Network has always provided consumers with the utmost convenience for making their gift card purchases,” said Bill Tauscher, Chairman and CEO, Blackhawk Network. “We now look forward to extending that convenience to gift card recipients by allowing them to easily get the gift card they want through this exchange.”

“We are excited for Cardpool to become part of a company that shaped the gift card landscape as we know it today,” said Anson Tsai, Co-founder and CEO, Cardpool. “This is a huge opportunity to enhance and expand our services for both our loyal customers and new customers by leveraging Blackhawk Network’s strong network of retailers and industry expertise.”

Cardpool will remain headquartered in San Francisco, California, and consumers can continue to exchange their gift cards at www.cardpool.com for a different gift card or for cash. Cardpool verifies the authenticity and balance of each gift card as part of the secure and trusted transaction process, and provides free shipping on all transactions.

About Blackhawk Network

Blackhawk Network, a subsidiary of Safeway Inc., is a leading provider of prepaid and financial payments products for consumers and businesses. The company’s Gift Card Mall™ offers the industry’s most popular prepaid gift card and telecom products. Gift Card Mall reaches more than 165 million people each week through an exclusive network of leading grocery stores, big box, convenience, pharmacy, and specialty stores and is available through Internet retailers including GiftCardMall.com. Blackhawk Network’s business solutions include reward and incentive programs that offer choice and flexibility through a wide array of card brands, custom designed Visa® prepaid cards and fulfillment options.

Headquartered in Pleasanton, California, Blackhawk Network Inc. has offices in the United States, Australia, Canada, France, Mexico and the United Kingdom. For more information about Blackhawk Network visit www.blackhawknetwork.com and www.giftcardmall.com.

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About Cardpool

Cardpool, a subsidiary of Blackhawk Network Inc, is the fast-growing gift card exchange company where customers can buy, sell, or trade gift cards safely and securely. Customers can exchange their gift cards at www.cardpool.com, where they can buy, sell, or trade, gift cards to over 400 different retailers, and in return, receive a discounted gift card, a different gift card, or simply cash.  Headquartered in San Francisco, California, Cardpool was acquired by Blackhawk Network in 2011.