Delinquency 4Q/01

While charge-offs have soared by nearly 20% over the past twelve months, delinquency among the top U.S. issuers has inched up by only 4.4%. The average 30+ day delinquency rate among the top issuers stood at 6.18% as of year-end 2001, compared to 5.92% at the end of 2000. However delinquency declined during the first two quarters of 2001, according to CardData ([www.carddata.com][1]). Since the end of June, delinquency has jumped 26 basis points, an 8% gain. Three top issuers reported lower delinquency rates for 4Q/01 compared to 4Q/00, including Bank One/First USA, Capital One, and Fleet. Sub-prime specialists Providian and Metris reported sharply higher delinquency rates, up 127 bps and 140 bps respectively. MBNA’s delinquency rate increased 15 bps since 4Q/01 and 52 bps since 2Q/01. Discover reported a 30+ day delinquency rate of 6.85% for the quarter ending 11/30/01, compared to 5.92% for year-ago quarter. American Express delinquency rate stood at 3.3% for 4Q/01, compared to 2.8% for 4Q/00. (CF Library 2/21/02)

TOP TEN VISA/MASTERCARD ISSUERS –
2001 QUARTERLY DELINQUENCY
DAYS 4Q/01 3Q/01 2Q/01 1Q/01 4Q/00
1. Citigroup: 90+ 1.98% 1.82% 1.72% 2.00% 1.46%
2. MBNA: 30+ 5.09% 4.90% 4.57% 4.60% 4.94%
3. First USA: 30+ 4.46% 4.25% 4.10% 4.33% 4.51%
4. Chase: 90+ NR NR 1.90% 1.99% 2.07%
5. Cap One: 30+ 4.95% 5.29% 4.92% 4.72% 5.23%
6. Providian: 30+ 8.81% 8.66% 8.04% 7.64% 7.54%
7. BofA: NR NR NR NR NR NR
8. Household: 60+ 4.10% 3.91% 3.60% 3.68% 3.49%
9. Fleet: 30+ 4.05% 4.13% 4.40% 4.75% 5.00%
10. Dir Merch: 30+ 9.70% 8.90% 8.30% 8.40% 8.30%
30+ DAY AVG*: 6.18% 6.02% 5.72% 5.74% 5.92%
NR- not reported
* 60+ day and 90+ day are not meaningful
SOURCE: CardData (www.carddata.com)

[1]: http://www.carddata.com/

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AmEx – IBM

Following its major IT deal with IBM, American Express announced yesterday a jointly developed online business expense reporting tool. Marketed by AmEx as part of its American Express @ Work suite of online expense management tools and hosted by IBM, the application will automate employees’ expense reporting and reconciliation processes. The American Express @ Work Reconciliation Management tool eliminates the need for manually obtaining signature approvals, reviewing corporate policies, and verifying and assigning accounting codes to expenses. The new “e-business on demand” service will be available to American Express Corporate Card and Corporate Purchasing Card clients later this quarter. Last week, American Express and IBM signed a seven-year, $4 billion deal under which AmEx with have on-demand access to IBM’s computing resources. (CF Library 2/26/02)

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WELCOME CYBERPRO

Welcome real-time announced an agreement to merge with Canada-based Cyberpro
Technologies. This merger establishes Welcome as the North American leader in
marketing solutions on smart cards and further extends the company’s global
leadership. Terms of the deal were not disclosed.

Cyberpro is the leading provider of smart card based marketing applications in
North America, with more than 60 different programs in the US and Canada.
Twice in the last three years the Advanced Card Technology Association of
Canada recognized Cyberpro, presenting the prestigious Lorne Boates Award of
Excellence for the company s work with Northern Stores and the Quebec Soccer
Federation McDonalds. Cyberpro has successfully delivered applications to
numerous retailers, restaurant chains, car manufacturers, museums, ski resorts
& events.

The combined 80-person company has a solid shareholding structure with leading
smart card solutions provider Gemplus, European marketing firm High Co,
Standard Chartered Bank, Dassault Multimedia and TDF, a Singapore-based VC
fund.

Aneace Haddad, president & CEO of Welcome, said, Our companies share such
similar corporate cultures that our people have already begun working on
customer projects together. The merger will quickly yield significant
opportunities.

Daniel Tardif, president & CEO of Cyberpro, and new CEO of Welcome’s Americas
region agrees. Cyberpro’s strong expertise with retailers, combined with
Welcome s expertise with financial institutions, will allow us to leverage
synergies between banks and merchants worldwide, he said.

Welcome’s clients include: American Express; Akbank, Turkey; ANZ Bank,
Australia; Chase Manhattan Bank, HK; Standard Chartered Bank, Singapore and
Sumitomo Credit Services, Japan. Cyberpro s clients include: Kodak; McDonald
s; Northern Stores; Toyota; Québec Ski Stations Association, and the
Confédération des Caisses Populaires Desjardins.

About Welcome Real-time

Welcome’s (www.welcome-rt.com and
www.axiomatique.com) smart transaction platform enhances payment transactions
with revenue boosting services such as instantly awarded loyalty points,
coupons, punch cards, vouchers, tickets, cash back & all in a single
convenient
payment process. With millions of smart cards and thousands of merchants
worldwide operating the company s software, Welcome has proven repeatedly that
its easy-to-deploy solution generates higher sales for its clients while
increasing their customers satisfaction and loyalty.

Welcome Real-time is headquartered in Aix-en-Provence, France, with offices in
Philadelphia and Singapore.

About Cyberpro Technologies

Cyberpro Technologies www.cyberpro.ca develops and
implements turnkey smart card systems that provide integrated marketing and
loyalty solutions to retailers, financial institutions and other issuers of
card programs. Cyberpro’s combination of retail marketing experience and
smart
card technical expertise allows issuers to tailor solutions to various retail
environments either through Cyberpro’s existing software platform or through
custom development of new applications. Cyberpro’s systems are compatible
with
the planned smart card payment systems of Visa and MasterCard. The company s
varied loyalty and marketing implementations portfolio includes smart card
projects in North America and the Caribbean. Cyberpro, headquartered in
Montreal, with an office in Toronto, was founded in 1996.

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Fargo Pro-LX

Fargo Electronics, Inc. this week launched its new Pro-LX laminating card printer/encoder. The Pro-LX, with nearly a dozen major design improvements, replaces the Pro-L in Fargo’s Professional Series. The announcement came at The International Security Conference & Exhibition /West (ISC EXPO/West) in the Las Vegas Convention Center. Based in Eden Prairie, Minnesota, Fargo card printer/encoders create personalized plastic identification cards complete with digital images and text, lamination, and electronically encoded information. “The Pro-LX incorporates many specific new technical features which offer increased convenience, reliability and ease-of-use for these printers, which are designed to meet the growing needs of end users in the governmental, educational, corporate, transportation, and health care markets,” said Gary R. Holland, Fargo’s President and CEO.

“Among the enhancements to the Pro-LX are a reject card hopper, which gathers improperly encoded cards or cards remaining in the card path during reboot or cancellation, a new card thickness adjustment slider, and a new card cleaning cartridge with a replaceable cleaning tape, good for up to 1,500 cards per tape.

A new adjustable card flattener roller, card path guide, “high-tack” silicone feed roller, belt-driven print engine and improved laminator advances card flatness, feeding reliability, image quality and encoding reliability, while significantly reducing printer noise. A new auto-calibrating ribbon sensor recalibrates after every fourth print, without wasting ribbon panels, while new slotted optical sensors and digital potentiometers improve accuracy and ease of use.

The new Pro-LX will come with Fargo’s exclusive SmartGuard(TM) and SmartShield(TM) as standard features. SmartGuard utilizes a custom “smart card” access control to prevent unauthorized use of the printer, while Fargo’s patented SmartShield allows the printing of custom transparent images visible only when viewed at an angle or under an ultra-violet light source. Both are additional printer/encoder security devices available only from Fargo. The Pro-L, which was launched in March 1998, is the world’s best-selling laminating card printer/encoder, and was the printer selected for the Department of Defense Common Access Card project in February 2000. Over 1,500 Pro-Ls are being phased in to print, laminate, and encode the common access card, which will become the standard identification card for approximately 4,000,000 active duty uniformed service personnel, selected reserves, DoD civilians, and eligible contractor personnel.

Professional Series printers are available exclusively in the U.S. through Fargo Solution Providers, and internationally through Fargo’s network of Import Suppliers and International Distributors. “The distributors and integrators who carry the Professional Series products represent the best in the industry, said Holland. “They’ve been hand-picked because of their technical expertise, sophisticated integration abilities, and outstanding customer service.” For further information, printed sample cards, or the name of an authorized FSP, visit Fargo’s Web site at [www.fargo.com][1], or call FARGO toll-free at 1-800-459-5636. Outside the USA and Canada, call (612) 941-9470 or FAX (612) 941-7836.

About Fargo

Fargo Electronics, Inc. (Nasdaq:FRGO) is the world’s leader in innovative technologies for desktop plastic card personalization systems. Based in Eden Prairie, Minnesota, Fargo card printer/encoders create personalized plastic identification cards complete with digital images and text, lamination, and electronically encoded information. Personalized identification cards provide physical, information and transaction security for a wide variety of applications including retail stores, e-commerce, government installations, schools, sports and recreation facilities, clubs and associations, and correctional facilities. More than 60,000 Fargo systems are currently installed throughout the U.S. and in over 100 other countries. For more information, visit Fargo’s Web site at [http://www.fargo.com][2].

[1]: http://www.fargo.com
[2]: http://www.fargo.com/

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TSAI Regency Sale

Transaction Systems Architects, Inc. a leading global provider of enterprise e-payments and e-commerce software, announced that it has completed the sale of its Regency Systems business to S1 Corporation. Under the terms of the transaction, S1 acquired Regency for 400,561 shares of S1 common stock and $6 million in cash.

To reflect the divestiture of Regency, TSA has updated its financial guidance as follows:

Q2 Fiscal 2002 Fiscal 2002 Full Year
————– ———————

Revenue $64.8 to $68.8 million $263 to $283 million
Pro Forma EPS $.04 to $.10 $.33 to $.49

About TSA

Transaction Systems Architects’ software facilitates electronic payments by providing consumers and companies access to their money. Its products are used to process transactions involving credit cards, debit cards, secure electronic commerce, mobile commerce, smart cards, secure electronic document delivery and payment, checks, high-value money transfers, bulk payment clearing and settlement, and enterprise e-infrastructure. Transaction Systems Architects’ solutions are used on more than 1,700 product systems in 71 countries on six continents.

For a detailed discussion of these and other risk factors, interested parties should review the Company’s filings with the Securities and Exchange Commission, including Exhibit 99.01 to the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2001.

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Discover Incentives

Discover reported yesterday that it has registered more than eight million cardholders for Web site account access, a 61% increase since January 2001. MBNA reported in January a 330% increase among cardholders accessing account information, from 1.3 million for 4Q/00 to 5.6 million for 4Q/01. Other leading issuers such as American Express and First USA reported sharp increases in online usage during 2001. This week, Discover launched an online sweepstakes on Discovercard.com to boost online usage. Until May 31, cardholders who register and pay their Discover Card bills online using the SmartCheck payment option will automatically be entered in the sweepstakes. The grand prize is $10,000 in cash. Plus, 15 Discover customers will win $1000 each and 30 Discover cardholders will win $100 each. Discover’s online Account Center also offers Discover Inter@ctive, a free service that offers eight e-mail notifications and reminders regarding the status of a Discover Card account. (CF Library 1/11/02)

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SCOTIABANK 4Q/01

Scotiabank announced results for the first quarter of 2002,
reporting net income of $52 million, and earnings per share (diluted) of
$0.05. This included charges of $540 million (after tax) related to Argentina.
Excluding these charges, net income was $592 million, with earnings per share
of $1.10. This compares to net income of $510 million and earnings per share
of $0.95 in the same quarter in 2001.

“Given the extraordinary political and economic upheaval in Argentina,
the Bank has carefully reviewed its exposures and taken significant additional
charges of $540 million this quarter. The entire Argentine economy, including
the financial sector, has been negatively impacted,” said Peter C. Godsoe,
Chairman and CEO.

“Our senior management and more than 1,700 employees continue to operate
Scotiabank Quilmes under very difficult circumstances, and they are doing an
outstanding job. We continue to work closely with the Argentine authorities
and have received excellent support from the Canadian government. However,
there is still a great deal of uncertainty concerning the implementation of a
comprehensive recovery plan for the Argentine economy, including the financial
sector.

“Earnings momentum remained strong across almost all other businesses —
domestic banking including wealth management, capital markets and other areas
of our international operations. We saw broad-based revenue gains of 14% over
last year, and expenses remained well controlled.”

(1) Refer to details of charges related to Argentina, see below.

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Wild Cards

FL-based WildCard Systems said Tuesday that its gift card programs generated a 688% increase in the number of gift cards sold in fourth quarter 2001 over the same period the year prior. The increase was driven in part by the launch of four new gift card programs for Bank of America, Marriott Hotels, Simon Property Group, and First National Bank of Omaha. WildCard is also involved with the gift card programs of AAA, Orchard Bank, Household, and Yahoo!. Bank of America launched a VISA Gift Card program with WildCard Systems that offers customers a choice of eleven different gift card designs. BofA also offered Olympic Winter Games VISA Gift Cards with five different card designs. The AAA Gift Card is a VISA stored-value card available with a minimum value load of $25 and a maximum value load of $2,000. Marriott’s Gift Card program is a private label product sold through Marriott’s Web site, 1-800 number, and designated Marriott Hotel locations with denominations up to $3,000. The stored-value Simon gift cards are co-branded with VISA, and sold at select malls participating in the pilot program.

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QANTAS CHARGE CARD

Universal Air Travel Plan, Inc. announced the launch of a new UATP
program by Qantas Airways, Ltd. in the New Zealand corporate market. The
Qantas UATP program, named Qantas Charge Card, is an enhanced payment system
solution for corporate customers. The Qantas Charge Card simplifies the
process of managing corporate travel expenses and provides corporations with
increased control over travel expenses with the detailed management reports
and
statements.

Russell Williss, Corporate Sales Manager for Qantas New Zealand, said, “The
ability to identify cost savings and operational efficiencies are important to
our corporate customers and the UATP program allows us to meet their reporting
needs. The Qantas Charge Card is currently available to corporations in New
Zealand and may be used worldwide, for the most comprehensive transactional
reporting for all corporate airline charges.”

The key benefits of the Qantas UATP program include improved cost control
through accurate and timely management reporting, convenience at
reconciliation, flexibility on accounts, and an increase in cash flow through
favorable payment terms. Corporations may choose to participate in the Qantas
Charge Card with a lodged account centrally held by the corporation, a Qantas
bonded travel agent, the Qantas Travel Centre or through Qantas Airways
Reservations. In addition, organizations may also choose to provide executive
travelers with a personal Qantas Charge Card. All Qantas Charge Card expenses
will be consolidated to the master corporate account and there is no annual
fee.

Richard Crum, UATP President and Chairman, said, “UATP is thrilled with the
launch of the Qantas Charge Card product. Qantas realized the benefits that
UATP will bring to its corporate program and has built a strong product
offering of which they can be proud.”

Universal Air Travel Plan Inc., formerly known as Air Travel Card®, is the
world’s first corporate travel payment system. Founded in 1936, UATP is owned
and operated by each card-issuing airline and accepted by over 180 airlines
worldwide. With annual global billings over USD 8 billion, UATP is the
industry’s own solution to combat rising credit card costs. UATP offers the
most complete data and lowest administrative cost of any charge product in the
airline industry. Multi-national corporations, including 73 percent of the
Top
100 Global, utilize UATP to better manage travel expenses.

Airlines currently issuing UATP accounts include Aer Lingus, Air New Zealand,
Alitalia, American Airlines (NYSE: AMR), Austrian Airlines, British Airways
(NYSE: BAB), Continental (NYSE: CAL), Delta Air Lines (NYSE: DAL), Japan
Airlines (NasdaqSC: JAPNY), KLM Royal Dutch Airlines (NYSE: KLM), Lufthansa
German Airlines, Qantas Airways, Ltd, Scandinavian Airlines System, United
Airlines (NYSE: UAL) and US Airways (NYSE: U). For more information, visit
uatp.com.

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Winn-Dixie Loyalty Card

Beginning March 7, shoppers in most Florida and southeast Georgia Winn-Dixie stores can register to participate in a new program that will provide ongoing benefits that include merchandise discounts and other special incentives. The three Florida divisions of Winn-Dixie will launch the new Customer Reward Card, the first such reward program of its kind by a major Florida grocer. The Customer Reward Card is part of a major initiative to focus on superior customer relationship marketing that reinforces the company’s new Real Deal brand positioning.

After a brief in-store registration process, the customer is issued an easy to use Customer Reward Card and two convenient key ring tags. They are immediately activated and available for the shopper to begin receiving discounts upon checkout. A quick swipe of the Customer Reward Card will instantly apply current discounts to items purchased. Recurring use of the card during special promotional periods will result in the accumulation of points that will provide access to additional rewards for the shopper upon completion of specified program milestones. Those point totals are updated, conveniently tallied and printed out on the customer’s receipt after each transaction using the card. Cardholders also have access to program information and support online at [www.wdreward.com][1] or by calling toll free 1-866-WDREWARD (937-3927). Winn-Dixie will observe strict privacy policies to protect everyone enrolled in the Customer Reward Card program. Absolutely no external distribution or sales of individual customer information will ever take place. The program’s intent is to provide the company with aggregate sales trend information rather than specific individual data.

“The Customer Reward Card program is a part of the new Winn-Dixie,” said Al Rowland, Winn-Dixie President and CEO. “We are focused on understanding and meeting the needs of our customers and this card program allows us to do so while still being true to our Real Deal brand positioning.” Shoppers will accumulate points, which correspond to total pre-tax dollars spent on each visit. Each $1 spent will be equivalent to one point earned. A variety of rewards will be available to customers who obtain certain point levels.

The initial Easter/Passover reward offer for registered cardholders will be a free Hormel Cure 81 ham, a Butterball frozen turkey breast or a $10 Winn-Dixie Gift Card for those who accumulate 200 points during the period of March 7 – 31, 2002.

Among the functions of the new card program is the ability to monitor and analyze purchasing trends for each Winn-Dixie store. This data will be useful in determining appropriate product offerings to certain regions, cities, or even individual stores.

“Understanding general purchasing trends will ensure that we, as retailers, are responsive to the ever-changing demands of our customers,” said Rowland. “Despite the sophisticated technology, this program actually feels more like a connection back to nostalgic times when any good neighborhood grocer personally knew his regular customers and could anticipate their individual needs.” In addition to ongoing store discounts, other benefits of the Customer Reward Card will include automatic sweepstakes entries, notification of special events, participation in specialty merchandise clubs, and discounts on services provided by select marketing partners. For more program information, visit [http://www.wdreward.com][2] or visit a Winn-Dixie store. Winn-Dixie Stores Inc., (NYSE:WIN), is one of the nation’s largest supermarket retailers, with more than 1,140 stores in 14 states and the Bahamas.

[1]: http://www.wdreward.com/
[2]: http://www.wdreward.com/

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SUREFIRE INTUIT SERVICE

SureFire Commerce Inc. and Intuit GreenPoint, a division of Intuit Canada
Limited, announced the official
launch of the Intuit GreenPoint ProFile Credit Card Service, powered by
SureFire’s Bill Presentment and Payment solution. The service will enable many
of the 11,000 tax preparation experts using Intuit GreenPoint’s ProFile
Financial Application Suite customers to accept VISA, MasterCard and FirePay
from clients for the first time. Over 4,000,000 tax returns are expected to be
prepared by GreenPoint’s customers during the upcoming tax season.

Based on technology developed by SureFire Commerce for other Intuit
Canada products, such as Quicken and QuickBooks, the ProFile Credit Card
Service will enable tax preparation experts to accept credit card payments
online, in person, by telephone or by mail, without the need for credit card
swipe terminals, a dedicated telephone line or lengthy applications with
multiple credit card issuers. The solution also empowers tax preparation
experts to send invoices by e-mail with only a few keystrokes and allows their
customers to make payments online without having to write a cheque or mail an
envelope.

“SureFire Commerce’s payment technology has contributed greatly to
QuickBooks and Quicken, allowing users of these solutions to get paid faster
and to grow their small businesses,” said Stephen King, Vice-President of
Intuit Greenpoint. “We strongly believe that tax professionals will benefit
from the ProFile Credit Card Service’s ability to increase (and simplify) cash
flow and therefore continue to turn to Intuit for their software needs.”

“SureFire is thrilled by the continuous development of our relationship
with the Intuit family of companies,” said Rory Olson, President and CEO of
SureFire Commerce Inc. “Our private-label relationship with Intuit Canada
allows us to reach a significant portion of the offline small business market
with our payment enabling solutions. We are proud of our ability to provide
small businesses with a simple way to accept credit card payments and also of
our ability to add significant value to Intuit’s suite of tax, personal
finance and small business management applications.”

The new credit card service will further SureFire’s penetration into the
offline business market, which represents approximately 96% of all credit card
transactions. Small businesses using SureFire’s solutions can accept over-the-
counter credit card payments simply by entering a customer’s credit card
information into the Profile software application.

SureFire’s payment enabling solutions have now been integrated into many
of Intuit Canada’s leading software products, such as QuickBooks 2001/2002,
Quicken 2002 Home & Business, and ProFile, as well as into QuickBooks 2002
from Intuit UK. Merchants who have signed up for the Intuit-SureFire payment
solutions are already processing in excess of $1M per month.

ABOUT INTUIT CANADA

Intuit Canada Limited is headquartered in Edmonton and has offices in
Calgary, Toronto, and Montreal. The company is a leading developer of finance
and business management solutions, including personal finance management,
business management and accounting, and tax preparation software, as well as
Web-based services. Intuit’s products and services include Quicken(R),
www.quicken.ca, QuickBooks(R), QuickBooks logiciel
comptable(R) QuickTax(TM),
ImpôtRapide(R), and QuickWealth Planner(TM). Through Intuit GreenPoint, the
company offers ProFile(TM), professional tax preparation software, and ProFile
FP(TM), professional financial planning software. Together, Intuit Canada and
Intuit GreenPoint enable individuals, small businesses, and financial
professionals to better manage their financial lives and businesses. Visit
Intuit Canada Limited at
www.intuit.com/canada and
Intuit GreenPoint at
www.greenpointsoftware.com.

ABOUT SUREFIRE COMMERCE

SureFire Commerce Inc. is a global provider of secure online payment
solutions and e-commerce support, processing over US$1.2 billion of online
transactions annually. The Company specializes in payment solutions in three
core areas: Internet payment processing for online businesses and licensed
Internet gaming companies, bill presentment and payment processing for
physical businesses, and corporate billing solutions. SureFire Commerce’s
online payment solutions are marketed to consumers and merchants through
strategic partnership agreements with companies that have significant brand
recognition and distribution channels. SureFire Commerce is headquartered in
Montreal (Quebec) with offices in Hull (Quebec) and London (England).

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Clarity Powers Ins Card

Clarity Incentive Systems, a leading developer of payment solutions and processor of payment transactions for emerging and specialty markets, announced that American Skyline Insurance Company, a property and casualty insurance firm, has chosen its payment platform to power a debit-card based Rapid Claim Disbursement Card program customized to meet their specific needs. ASIC chose Clarity because they deliver a sophisticated payment platform that enables ASIC to issue monetary payments instantly to policyholders onto an ASIC-branded Visa debit card – radically increasing the speed funds are available to individuals. The debit cards are typically distributed to clients when a policy is issued, but may be issued at a later date. Payments are deposited directly onto the debit card at the time of the claim allowing individuals to begin using funds immediately at locations wherever Visa is accepted.

“By eliminating the need for our customers to wait days or even weeks for claims to be processed is a breakthrough for the insurance industry,” said Earnie Hines, President and CEO of American Skyline Insurance Company. “Utilizing Clarity Incentive Systems technology to achieve this demonstrates ASIC’s commitment to technological innovation and unparalleled service to America’s cities.”

“Clarity’s payment technology allows us to cost-effectively deliver claims proceeds to our customers in a more efficient and convenient manner while also giving our customers the piece of mind that comes with the ability to access funds immediately in emergency situations,” continued Kim Lewis, Public Relations Manager for ASIC.

Clarity will also provide ASIC with a suite of Web-based program administration tools including communication, tracking, and CRM capabilities that are available entirely online, making implementation and modification of policy claims quick and easy for both ASIC and its policyholders. Policyholders may access their card balance information any time, 24/7.

“Insurance companies have a long history of using cumbersome, paper-based procedures to handle claims. ASIC was looking for a solution to significantly improve this process,” said Anil Aggarwal, CEO of Clarity Incentive Systems. “The flexibility of our payment platform coupled with the functionality of the program, allowed us to create a signature program that improves the claim experience for both the insurance company and its customers.”

About Clarity Incentive Systems

Clarity Incentive Systems develops electronic payment solutions and processes payment transactions for emerging and specialty markets. The Company provides solutions for companies in numerous vertical markets that include incentives, customer promotions, healthcare, insurance, teen payments and payroll, transforming their legacy, paper-based payment processes into efficient and cost-effective electronic systems. The Company’s proprietary payment processing platform supports multiple payment vehicles such as debit, stored value, chip and private label, and incorporates Internet-enabled and other technologies that are specifically designed to provide competitive advantages within each market. Clarity Incentive Systems is headquartered in New York City with European operations based in Lisbon, Portugal. For more information visit [http://www.clarityis.com][1].

About American Skyline Insurance

American Skyline Insurance Company (ASIC) is a new Property and Casualty company specializing and focusing on the insurance needs of America’s cities. ASIC provides high quality Automobile, Property, Small Business insurance, and Surety Bond products for city residents and their businesses. American Skyline Insurance Company is a fully licensed insurer domiciled in the state of MD. ASIC has plans to expand its coverage to other Eastern seaboard cities in 2002. ASIC is currently putting the finishing touches on it’s CityChoice(SM) brand of homeowner and businessowner insurance products. More information about ASIC can be obtained on the web [http://www.americanskyline.net][2].

[1]: http://www.clarityis.com/
[2]: http://www.americanskyline.net/

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