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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GFMU/8JmovsDo+isulp2QuicDKxIzs0L21kfc+E6aZeuK+YbvRvIpEjuC1KK0rOc
 kvyTakoWdv+YyMxA9ES45Q==

<SEC-DOCUMENT>0000893750-05-000662.txt : 20051228
<SEC-HEADER>0000893750-05-000662.hdr.sgml : 20051228
<ACCEPTANCE-DATETIME>20051228131111
ACCESSION NUMBER:		0000893750-05-000662
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050808
FILED AS OF DATE:		20051228
DATE AS OF CHANGE:		20051228

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NET 1 UEPS TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001041514
		STANDARD INDUSTRIAL CLASSIFICATION:	FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099]
		IRS NUMBER:				650903895
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000
		BUSINESS PHONE:		27 11 343 2000

	MAIL ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Maitland Trustees LTD
		CENTRAL INDEX KEY:			0001294003
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31203
		FILM NUMBER:		051288398

	BUSINESS ADDRESS:	
		STREET 1:		9 COLUMBUS CENTRE
		STREET 2:		PELICAN DRIVE
		CITY:			ROAD TOWN, TORTOLA
		STATE:			D8
		ZIP:			PO BOX 805
		BUSINESS PHONE:		(1) 284-494-4567

	MAIL ADDRESS:	
		STREET 1:		9 COLUMBUS CENTRE
		STREET 2:		PELICAN DRIVE
		CITY:			ROAD TOWN, TORTOLA
		STATE:			D8
		ZIP:			PO BOX 805
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-08-08</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001041514</issuerCik>
        <issuerName>NET 1 UEPS TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>&quot;NUEP.OB&quot;</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001294003</rptOwnerCik>
            <rptOwnerName>Maitland Trustees LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9 COLUMBUS CENTRE</rptOwnerStreet1>
            <rptOwnerStreet2>PELICAN DRIVE</rptOwnerStreet2>
            <rptOwnerCity>ROAD TOWN, TORTOLA</rptOwnerCity>
            <rptOwnerState>D8</rptOwnerState>
            <rptOwnerZipCode>D8 PO BOX</rptOwnerZipCode>
            <rptOwnerStateDescription>VIRGIN ISLANDS, BRITISH</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2005-08-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>566667</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2454817</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Notes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">After giving effect to the 6-for-1 reverse stock split consummated by Net 1 prior to the initial public offering.</footnote>
        <footnote id="F2">Maitland may be deemed to be the beneficial owner of  the 2,454,817 shares of Net 1 as it has  discretionary authority and
 control indirectly over all of the assets of each of PBE2 and BPESA, including the power to dispose of the Shares.</footnote>
        <footnote id="F3">The Reporting Persons are Brenthurst Private Equity II Limited (&quot;BPE2&quot;), Brenthurst Private Equity South Africa I Limited
 (&quot;BPESA&quot;), Brenthurst Limited (&quot;Brenthurst&quot;), Theseus Limited (&quot;Theseus&quot;) and Maitland Trustees Limited (&quot;Maitland&quot;). The
 securities are held of record by BPE2 (1,641,544 shares) and BPESA (813,272 shares). As controlling shareholder of BPE2 and
 BPESA, Brenthurst may be deemed  to be the beneficial owner of securities held by them. As the parent company of Brenthurst,
 Theseus may be deemed to be the beneficial owner of securiites held by Brenthurst. As the parent company of Theseus,
 Maitland may be deemed to be  the beneficial owner of securities held by Theseus. Each of the Reporting Persons, except for
 BPE2 and BPESA, disclaims  beneficial ownership of the securities, except to the extent of its pecuniary interest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Lucy Woolnough of Maitland Trustees Limited</signatureName>
        <signatureDate>2005-12-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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