PREPAID PHONE CARDS

Verso Technologies, Inc., an integrated switching solutions
company that is adapting the cost savings of IP networks to the unique
requirements of voice, announced it has completed the planning,
installation and testing of a fully integrated, turnkey prepaid solution for
Formula One International, a switch-based provider of prepaid long distance
services.
Verso’s state-of-the-art switching technology will enable Formula One to
launch
the first prepaid long distance services into Bangladesh, the eighth most
populated country in the world, one year after the country’s government
deregulated the telecommunications industry for prepaid service.

Verso’s turnkey solution, which included Verso’s highly scalable intelligent
gateways, integrated provisioning and billing software and a full suite of
configurable prepaid, long distance and calling card applications was tested
and approved by the incumbent provider, the government-controlled Bangladesh
Telegraph and Telephone Board, in January of 2002. Formula One launches
its service on March 7th, just months after being awarded one of only five
prepaid services licenses issued by the Ministry of Post & Telecommunications.
As the first licensee to purchase and install equipment for its
prepaid
network, Formula One underwent rigorous testing of its Verso switch, which
directly interconnects over SS7/C7 with the BTTB network. Formula One plans to
expand its Dhaka City-based network to other cities, such as Chittagong and
Sylhet, using Verso’s integrated platform which includes SS7/C7 signaling to
enable Formula One to seamlessly interconnect to BTTB’s network with no
additional testing required.

“From a business perspective, our decision to take prepaid long distance to
the
consumer-rich, yet completely untapped Bangladesh market was an obvious one,”
said Mazher A. Masud, Chairman of Formula One International. “Still, our
first-mover advantage came with many challenges, in terms of both business and
technology issues. Verso’s experience as the leader in prepaid telephony made
them the clear choice for this venture. Not only were they able to offer a
variety of telephony applications based on a low cost VoIP and TDM
infrastructure, but they had the experience and the expertise to lead us
through the process of launching into a new and untapped market.”
“Deregulation in countries throughout southern Asia and Africa is creating
enormous opportunity for service providers who are willing to navigate
uncharted territory,” said Steve Odom, Chairman and CEO of Verso. “For those
who do, the number one challenge continues to be interconnection with the
local
PTTs – a challenge which our prepaid solution can uniquely address because our
technology includes country-specific SS7/C7 signaling software, something most
of our competitors simply can’t offer.”

To quickly drive new traffic on their network, Formula One finalized an
exclusive distribution agreement with four area-based marketing companies in
Bangladesh, which will resell privately branded calling cards through its
8,000
outlets across Greater Dhaka.

Globally, usage of long distance minutes is experiencing double-digit annual
growth, with prepaid long distance continuing to be the most popular way to
pay
for long distances services outside of North America. 2001 Census figures
report Bangladesh’s population at more than 130 million, while as many as
150,000 emigrate to Asia, Europe and North America each year in search of
better economic and social conditions. Bangladesh’s large population of both
residents and geographically dispersed emigrants make it particularly
well-suited for the benefits of prepaid long distance services.

About Verso Technologies

Verso Technologies provides integrated switching solutions for communications
service providers who want to develop IP-based services with PSTN scalability
and quality of service. Verso’s unique, end-to-end native SS7 over IP
capability enables customers to leverage their existing PSTN investments by
ensuring carrier-to-carrier interoperability and rich billing features.
Verso’s
complete VoIP migration solutions include state-of-the-art hardware and
software, OSS integration, the industry’s most widely used applications and
technical training and support. For more information about Verso Technologies,
contact the company at www.verso.com or by calling
678.589.3500.

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FRAUD ALERTS

724 Solutions Inc. announced a strategic alliance with HNC Software Inc. to
help credit and debit card issuers reduce operational costs and improve fraud
detection services primarily through wireless alerting technology. HNC will
integrate its Falcon Fraud Manager technology with 724 Solutions Alerts to
automatically deliver to card holders highly personalized, time-critical
information about potentially fraudulent use of their credit cards through a
variety of methods – including wireless devices.

The combined software is expected to enable credit and debit card issuers to
proactively and inexpensively alert their cardholders to suspicious
transactions via a variety of wired and mobile devices. Card holders will be
able to easily send a reply message to verify the validity of the transaction
or connect immediately to a fraud investigation agent. By combining
automated,
multi-channel alert delivery and easy, immediate customer response, card
issuers can cost effectively expand their fraud protection activities and
accelerate their fraud response time. As a result, the solution is expected
to
lower card issuers’ call center expenses and further reduce card fraud, while
expanding issuers’ customer service initiatives.

“Fraud detection wireless alerts are a high value service for both the
customer
and the card issuer,” said Alistair Rennie, Senior Vice President, Corporate
Development, 724 Solutions. “Cardholders will be notified almost anywhere,
anytime of a potential fraud concern, and they can respond instantly with a
few
key strokes. For the card issuer, this solution is expected to lower call
center costs and the risk of fraud and give card issuers new opportunities to
leverage the value of their HNC software and interact with their customers.
HNC
is a leader in its space and we’re delighted to be working with the company
to
provide this solution.” 724 Solutions will begin offering the solution to
current HNC customers in the second quarter of the year.

“Teaming with 724 Solutions is another example of HNC using its expertise to
fill a need within the marketplace that further helps our customers improve
their financial performance and enhance relationships with their customers …
the consumers,” said Michael Chiappetta, Executive Vice President of HNC
Analytics Products. “By combining HNC’s and 724 Solutions’ advanced
technologies, card issuers can better protect cardholders while obtaining
maximum and immediate return on investment from their technology investment.”
A valuable piece in the mobile transactions value chain, 724 Solutions Alerts
addresses the need to provide personalized notification services and the
ability for users to immediately act upon that notification using two-way
messaging, particularly where card fraud detection is involved. Strategic to
its focus on mobile transactions, 724 Solutions’ alliance with HNC Software
helps consumers become comfortable interacting with credit card issuers by
using mobile devices to quickly handle account activity. By fostering
increased
mobile communication between consumers and credit card issuing companies, 724
Solutions plans to help drive awareness and increase adoption of the wireless
Internet for mobile transactions.

HNC’s Falcon Fraud Manager is a neural network-based predictive software
system
that examines transaction, cardholder and merchant data to detect a wide
range
of payment card fraud. Falcon Fraud Manager protects more than 400 million
credit cards, which accounts for approximately 84 percent of U.S. credit card
transactions and 60 percent of percent of all transactions worldwide.

About 724 Solutions Inc.

724 Solutions Inc. (NASDAQ: SVNX; TSE: SVN) is a leading provider of mobile
Internet infrastructure software and applications. It makes m-business happen
globally by powering the delivery of secure mobile transactions for financial
institutions and mobile operators. With headquarters in Toronto, Canada, the
company has development and sales offices around the world. For more
information, visit
http://www.724.com.

About HNC Software.

HNC (NASDAQ: HNCS) is a leading provider of high-end analytic and decision
management software and tools that enable global companies to manage customer
interactions by converting data and business experiences into real-time
recommendations. HNC’s proven software empowers Global 2000 companies in the
financial services, insurance, telecommunications, health care, and other
industries and governments to make millions of the right mission-critical
customer decisions, and take action in real time, substantially improving
financial performance, reducing costs and decreasing risk. For more
information, visit
http://www.hnc.com.

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MIST 4Q/01

Toronto-based MIST reported that 4Q/01 revenue for transaction services, which includes the POS terminals group, increased 96% to $3.9 million from $2.0 million. Sales of ‘MIST Freedom SPD’, a new smart card enabled pin pad and the ‘MIST Freedom II’ wireless POS terminal led the strong increase. Consolidated revenue for the first quarter was $12.2 million, a decrease of 11.3% compared to $13.8 million for same quarter one year ago. Revenue in the Smart Card Issuance business declined year-over-year from $12.5 million to $8.8 million, with the decline accounted for by relatively strong sales in 2001 and a slowing, post September 11th, in the casino/leisure market. Net income for the quarter was $996,000 compared to income of $7.1 million in the same period in the prior year. The company is currently integrating the Transaction Services and Smart Card Issuance businesses to leverage the customer base of the two operating groups. For complete details on MIST’s latest results visit CardData ([www.carddata.com][1]).

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

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CORILLIAN POWERED

At The Asian Banker Summit 2002,
Corillian Corp., a leading global provider of eFinance
solutions, announced that Arab-Malaysian Banking Group,
Bumiputra-Commerce Bank Berhad and RHB Bank Berhad, three of
the top five commercial banks in Malaysia, have all launched Internet
banking sites powered by Corillian.

All three projects involved the implementation of the Corillian Voyager
Internet banking platform, a robust and secure system with the ability to
handle large volumes of online customer traffic. The platform enables the
banks to offer their customers Internet banking, including paying bills,
viewing account balances and transactions online. As the banks develop
their systems, customers will be able to take advantage of funds transfer,
secure messaging, portal facilities, alerts and personalized financial
management tools.

Corillian Voyager – The Operating System for eFinance(tm) – is a
high-performance platform that allows for the delivery of financial
services to customers over the Internet. Voyager provides a link between a
financial institution’s legacy host system and its consumers, using
Internet browsers, personal financial management software and
Internet-ready wireless devices. Voyager’s open architecture design allows
an institution to quickly integrate emerging technologies, deploy the
platform in-house or in a secure data center, and customize the entire
Internet banking presentation to its customers.

Corillian, already a leading player in the U.S. with a strong track record
for providing cutting-edge eFinance solutions to financial services
institutions, is demonstrating that eFinance solutions developed for the
U.S. market can be adapted for other markets. With over 50 financial
institutions already licensing the Voyager product around the world, the
Corillian Voyager platform offers unparalleled levels of scalability for
leading banks that are planning to enhance their Internet operations
internationally.

“These launches represent the next major step forward for us in Asia,”
said Giles Hewson, Corillian International’s business director for Asia.
“The competitive nature of South East Asian markets is resulting in a
greater liberalization and the rapid adoption of new technologies such as
Corillian Voyager. Domestic banks that do not invest in world-class
eFinance software may find that international banks are soon able to
‘cherry-pick’ its best customers with online services, leaving the
domestic banks with unprofitable business. Corillian Voyager is proven,
reliable and quick to install and this combination has enabled forward
thinking banks like AMBG, BCBB and RHB to take the initiative and provide
the benchmark for Internet banking in this region.”

About AMBG (www.ambg.com.my)

The Arab-Malaysian Banking Group, established in August 1975 as a joint
venture bank between Malaysian Industrial Development Finance Berhad
(35%), Arab-Investment for Asia (Kuwait) Ltd (45%) and Malayan Banking
Berhad (20%), is a leading financial services provider in Malaysia. It
offers an extensive range of banking and financial services, including
investment banking, commercial banking, retail financing, leasing,
stockbroking, insurance, asset/fund management, futures and options
trading, and offshore banking.

About BCBB (www.bcb.com.my)

BCBB was established on October 1, 1999 by the merger of Bank Bumiputra
Malaysia Berhad and Bank of Commerce Berhad. Bank Bumiputra Malaysia
Berhad has been a client of PKTech since 1994. BCBB, the second largest
commercial banking group in Malaysia, offers a comprehensive range of
financial services, and is a part of Commerce Asset-Holding Berhad, a
leading financial services group listed on the Kuala Lumpur Stock
Exchange. BCBB has a large network of more than 250 branches throughout
Malaysia and a worldwide presence with offices in London, New York,
Singapore, Hong Kong and Tokyo.

About RHB Bank (www.rhbbank.com)

RHB Bank is Malaysia’s third largest commercial bank and offers a
comprehensive range of financial products and services ranging from
retail, commercial and corporate banking to Islamic products and services
and electronic banking. With its Head Office at RHB Centre in Kuala
Lumpur, Malaysia, RHB Bank has built an extensive branch and Sales and
Service Outlets (SSOs) network of over 200 offices throughout Malaysia.
RHB Bank also has a regional presence in the region with branches in
Singapore, Bangkok and Negara Brunei Darussalam.

About Corillian International

Corillian International is a leading provider of eFinance-enabling
software for the financial services industry and is a subsidiary of
Corillian Corporation, which is based in Oregon, USA. Corillian
International is headquartered in the UK, and has offices in Italy,
Malaysia and Australia, managing the group’s business in all territories
outside the Americas. Corillian applications support Internet banking,
bill delivery and payment, brokerage, targeted marketing (eCRM), enhanced
data aggregation, and small business transactions through Corillian
Voyager. This product can be deployed on-site at the financial firm or at
a secure data center. Corillian technology also enables Open Financial
Exchange (OFX) access by personal finance management software packages
such as Quicken(r), QuickBooks(r) and Microsoft(r) Money.

Details

EDS IT DEALS

EDS announced two contract signings valued at over US$100 million with
European
clients.

Today’s announcements, terms of which were not disclosed, include:

— A contract with Sal. Oppenheim jr. & Cie., one of the largest privately
owned banks in Europe, renewing its IT outsourcing contract with EDS.
Under the new contract, EDS will continue to deliver operational and
project services for the IT infrastructure environment through
June 2007.

— A three-year contract renewal with KBC Bank and Insurance Holding
Company for development and management of software applications for
KBC’s operations in credit, payments, savings, clearing/settlement,
capital markets, trade, finance, securities, and life insurance.

About EDS

EDS, the leading global services company, provides strategy,
implementation and hosting for clients managing the business and technology
complexities of the digital economy. EDS brings together the world’s best
technologies to address critical client business imperatives. It helps
clients eliminate boundaries, collaborate in new ways, establish their
customers’ trust and continuously seek improvement. EDS, with its management-
consulting subsidiary, A.T. Kearney, serves the world’s leading companies and
governments in 58 countries. EDS reported revenues of $21.5 billion in 2001.
The company’s stock is traded on the New York Stock Exchange and the London
Stock Exchange. Learn more at
http://www.eds.com.

Details

ATM MANAGEMENT

Transoft International,
Inc., the leading innovator in currency management, has announced today that
Mayne Logistics Armaguard has acknowledged the success of Transoft’s
OptiCa$h software after significant improvements in the past 12 months.

As a result of the implementation of currency management software, Mayne
Logistics Armaguard was able to drive significant operational efficiency
improvements via the management of its ATM service bureau.

“Over the 12 month period, we have been able to reduce our cash outages
from approximately 3% to a holding pattern of 1% or better,” said Roy Russell,
National Administration Manager of Mayne Logistics Armaguard.

“Meanwhile our cash re-banks (surplus cash at the time of each
replenishment) have been reduced from the mid thirty percentiles down to
approximately 20%, with a future focus of achieving a 15% target in mind,” he
said.

“We at Transoft are extremely pleased to hear this news,” said Bo
Holmgreen, President and CEO. “It is great to see quantitative evidence that
our products are delivering value to our customer’s bottom line.”

About Mayne Logistics Armaguard:

Mayne Logistics Armaguard is Australia’s largest and most sophisticated
cash transport and processing business, providing on-time delivery with
accurate reporting and maximum security.

About Transoft:

Transoft is the world’s leading provider of currency supply chain
management analytical applications for the commercial banking industry. Based
in Cary, North Carolina, Transoft, founded in 1992, develops software that
provides large recurring cost savings in the ATM, branch and vault networks of
banks, by applying Operations Research and statistical analysis to the cash
inventory management and balancing of all cost components.

The company’s products include OptiCa$h(C), the industry’s leading
integrated set of analytical applications for predicting currency demand at
each cash point, while optimizing cash deliveries and clearings; and eATM(C),
the next level of NDC/912 ATM software that is hardware independent, thus
offering the capability to operate and manage and entire ATM network with one
software application.

The components of the OptiCa$h(C) suite are: OptiCa$h(C), the leading
optimization and end-to-end processing tool for Currency Management;
OptiNet(C), an integrated web-enabled branch and carrier communications tool
that extends the functionality of OptiCa$h(C) to intranets; and OptiVault(C),
a vault consolidation analytical application that optimizes currency and coin
ordering, denomination management and clearing methods for bank money rooms
and carrier vaults.

Transoft is a privately held company with more than 40 customers in
production across 6 continents, managing cash for over 40,000 ATM’s and
14,500 bank branches. Transoft can be reached at 919.876.9192 and
http://www.transoftinc.com.

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Certegy Renews CSCU

Certegy Inc., the leading provider of card processing services to credit unions in the U.S., and Card Services for Credit Unions, Inc., the nation’s largest credit union processing association, jointly announced a three-year extension, through 2007, of Certegy’s contract to provide payment services processing.

Through its contract with Certegy, CSCU processes for more than 1,800 credit unions across the United States. This three-year contract extension, added to the two and one-half years remaining on the current term, ensures continuity and critical services support to the nation’s credit unions by the two organizations. The contract terms provide for the continuation of Certegy’s full array of card products including debit and credit card processing, merchant processing, and various support services. “Once again, we are extremely pleased to extend this long-standing partnership with CSCU,” stated Larry Towe, executive vice president and COO, Certegy Inc. “We are committed to providing quality card and merchant processing services to CSCU’s membership, delivered with the same high standards that we’ve provided over the past 12 years,” said Towe.

CSCU and Certegy’s partnership began in 1989. From just under 500 card- issuing credit unions and 1.3 million cardholder accounts, together the two companies have become the major player in the credit union card services business processing for over 1,800 credit unions serving over 7.6 million cardholder accounts.

“The contract extension with Certegy assures that the CSCU membership will continue to receive state-of-the-art card and merchant processing services, cutting edge products and various related card services for many years to come,” said John Fiore, chairman of CSCU and CEO of Motorola Employees Credit Union in Schaumburg, Illinois. “Our long-term relationship with Certegy is a testament to CSCU’s commitment to support our membership’s card processing needs. We are staying current with the new technologies and systems to allow credit unions to compete head-to-head on a level playing field with the largest financial institutions,” concluded Fiore.

CSCU and Certegy, through Web-based applications such as eZCardInfo(SM) (which delivers 24/7 cardholder access to account information) and E- Reports(SM) (which electronically delivers card program operating results to credit unions), are keeping credit union offerings competitive. CSCU’s membership also benefits from the industry’s first suite of online portfolio analysis tools, with the Virtual Card Consultant(SM) (VCC). VCC offers CSCU members 24/7 access to 24 months of comprehensive portfolio reports and graphs, to track and compare key performance indicators with peer group and industry averages and to identify program growth and profit opportunities.

CSCU, based in Clearwater, FL, is the nation’s largest credit union card processing association with nearly 1,800 credit unions representing 7.6 million MasterCard and Visa credit and debit card accounts. For additional information about CSCU, please visit [http://www.cscu.net][1] or call (727) 536-6800.

Certegy provides credit and debit processing, check risk management and check cashing services, and merchant processing to over 6,000 financial institutions, 175,000 retailers and 140 million consumers worldwide. Headquartered in Alpharetta, Georgia, Certegy maintains a strong global presence with operations in the United States, Canada, United Kingdom, Ireland, France, Chile, Brazil, Australia and New Zealand. As a leading payment services provider, Certegy offers a comprehensive range of transaction processing services, credit risk management solutions and integrated customer support programs which facilitate the exchange of business and consumer payments. Certegy generated $851 million in revenue in 2001. For more information on Certegy, please visit [http://www.certegy.com][2].

[1]: http://www.cscu.net/
[2]: http://www.certegy.com/

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EUROPAY SECURITY

Computer Associates International, Inc. announced that Europay
International, Europe’s leading payment system, will deploy CA’s award-winning
eTrust solutions to strengthen the security of its infrastructure and support
an extensive new business-critical IT fraud security initiative.

“With IT fraud attempts increasing globally by 25 percent a year, security
isn’t just an IT issue for Europay — it’s a business imperative,” said
Christophe Stenuit, Europay’s manager of IT security. “That’s why we need an
effective system for proactively detecting and preventing anyone who would
want to crack our system.”

Europay is already using eTrust Access Control, and will deploy eTrust
Intrusion Detection, eTrust Audit and eTrust Policy Compliance as part of a
central IT monitoring program. eTrust will help collecting, in a common
format, all corporate computer log files. In combination with Europay’s
Aristion(R) fraud detection software, this new initiative will provide
efficient and proactive positioning against internal and external computer
threats, network abuse, misuse and intrusions. It will offer Europay better
access control to its critical systems by streamlining security administration
to ensure superior enforcement of security policies at a lower cost and with
fewer person-hours.

Europay International has a global vision and a proactive process for IT
infrastructure security. “CA’s eTrust solutions, together with support from
CA Services, will help us to address one of the most complex of our security
issues,” said Stenuit. “Working with our Aristion(R) fraud detection
software, CA eTrust will help Europay significantly reduce its potential IT
risks.”

“It is extremely rewarding to us that a company with Europay’s
environmental complexity and worldwide reach has selected CA as its strategic
security partner,” said Dominique Bedeur, regional vice president, CA
Brussels. “We look forward to working with Europay’s outstanding eBusiness
security team to address the challenges of minimizing risk as their payment
services continue to evolve and expand.”

About Europay International

Europay International, headquartered in Waterloo, Belgium, is Europe’s
leading payments organization, dedicated to providing a tailored product range
and support services to its more than 9,000 Member banks. At present,
291.1 million cards (Eurocard(R)-MasterCard(R), Maestro(R), Cirrus(R) and
eurocheque) provide European and global debit and credit card services, and
offer cash access to Europe’s largest network of more than 305,800 ATMs in
43 countries. Through its alliance with MasterCard International, over
600,000 ATMs and more than 22 million retail locations worldwide accept
Europay products. Europay’s website gives a detailed view on the company’s
products and services and shows how Europay offers its Member banks both
support and leadership on issues including virtual commerce, chip technology,
security & risk management, and the advent of the euro. For more information,
visit http://www.europay.com.

About Computer Associates

Computer Associates International, Inc. (NYSE: CA) delivers The Software
That Manages eBusiness. CA’s world-class solutions address all aspects of
eBusiness management through industry-leading brands: Unicenter for
infrastructure management, BrightStor for storage management, eTrust for
security management, CleverPath for portal and business intelligence,
AllFusion for application life cycle management, Advantage for data management
and application development, and Jasmine for object-oriented database
technology. Founded in 1976, CA serves organizations in more than
100 countries, including 99 percent of the Fortune 500 companies. For more
information, visit http://ca.com.

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Web Site Addiction

Major financial Web sites, such as CardWeb.com, Schwab.com, and Bankrate.com, took the #1 spot as the most addictive online destination at-home and at-work in January according to a top Internet audience measurement service. Nielsen//NetRatings found more than 44% of the active Web population visited a finance Web site last month, attracting nearly 51.6 million unique visitors. On average, surfers spent more than 21 minutes browsing finance and investment sites, with males comprising 53% of the total audience. Nielsen//NetRatings says financial Web sites attract serious and engaged consumers who go beyond casual Internet activity. CardWeb.com served more than 250,000 user sessions in January.

Most Addictive Web Categories
(Time Per Person and Unique Audience)
1. Finance & Investment – 21.5 minutes and 51,586,000 visitors
2. News & Information – 15,8 minutes and 64,822,000 visitors
3. Family & Lifestyles – 14.5 minutes and 45,922,000 visitors
4. Search Engines/Portals & Communities – 13.5 minutes and 110,673,000
visitors

5. Travel – 12.0 minutes and 41,523,000 visitors
Source: Nielsen//NetRatings, January 2002

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EMV PRIME

Gemplus announced the launch of its “EMV Prime” suite of solutions. “EMV
Prime”
comprises a suite of solutions catered towards financial institutions in
various geographies and segments. It aims to provide a simple and cost-
effective path for achieving EMV compliance. Solutions include best-practice
implementation methodology, optimization tools, pre-integrated hardware and
software, smart cards and card issuing services.

EMV migration is a given, a mandate that must be fulfilled. While the
need for compliance is clear, financial institutions have repeatedly expressed
concerns in defining an optimal migration path to EMV. Since the EMV standard
was created in 1996, very few financial institutions have implemented it.
However, considering the payment associations’ mandate timelines, the time has
come for choosing a migration strategy and the right partner to work with.
Gemplus’ “EMV Prime” is aimed at addressing these upcoming challenges and
concerns.

Leveraging its experience of EMV projects over the past three years,
Gemplus has designed “EMV Prime” to reduce total cost of migration by up to
25%. Solutions are crafted to meet the repeated customer requests for
packaged products and services that reduce migration complexity, limit
operational risks and reduce time to market. In addition, it paves the way
for the delivery of high-value, differentiating services to cardholders. As a
result, this enables financial institutions to make a step beyond EMV to
extend their marketing reach, increase brand affinity and generate higher
revenue.

“By working closely with our customers and sharing with them our
competencies and knowledge, Gemplus is able to fine-tune its offering at each
step of the migration, from solution discovery to deployment,” said Gilles
Michel, Gemplus VP Financial and Security Services. “This enables us to
continuously enrich `EMV Prime’ with new features, acknowledging the diversity
of our customers’ needs and drivers.”

“EMV Prime” optimizes each solution with the combination of its own proven
technology bricks with components from other key industry players. “EMV
Easy”, an EMV migration solution developed with ACI Worldwide and Compaq to
provide a comprehensive package of products and services targets medium sized
financial institutions, and marks the significant first step in providing EMV
solutions to the market. EMV solutions targeted all remaining tiers of banks
will be announced over the next few months.

GEMPLUS: the world’s number one provider of solutions empowered by Smart
Cards

Gemplus helps its clients offer an exceptional range of portable,
personalized solutions that bring security and convenience to people’s lives.
These include mobile Internet access, inter-operable banking facilities,
e-commerce and a wealth of other applications. Gemplus is the only completely
dedicated, truly global player in the Smart Card industry, with the largest
R&D team, unrivalled experience, and an outstanding track record of
technological innovation. Gemplus trades its shares on Euronext Paris S.A.
First Market and on the Nasdaq Stock Market as GEMP in the form of ADSs. Its
revenue in 2000 was 1.205 Billion Euros. It employs 6721 people in
37 countries throughout the world.

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Semtek Nails Harrington

Semtek Innovative Solutions Corporation, a manufacturer of magnetic card stripe readers, announced the hiring of Don Harrington as national sales manager.

Semtek has recently developed card-swipe readers for handheld devices including the Compaq Ipaq, the Casio CASSIEOPIA EG-800 and several of the Palm handheld computers. Targeting industries requiring m-commerce, age/ID verification, mobile point of sale, or lead retrieval, these devices are a cost-effective solution for large and small organizations alike. Industries with specific applications for these devices include restaurants/bars, professional consumer services, law enforcement and healthcare among others. “Semtek represents an excellent opportunity because of the promise behind the company’s products,” Don said. “Semtek is positioned nicely in the handheld market with products for both the Palm and Pocket PC models. What I find exciting is that the handheld market as a whole grew nearly 20 percent in 2001, while the much of the broader market declined. The future will only get better from here.”

Previously, Don was the executive vice president of the Wholesale Division of the National Bankcard Association for 12 years. The National Bankcard Association specializes in electronic credit card processing and payment systems and ATM processing services. Prior to the National Bankcard Association, Don served as the regional vice president of sales for Hypercom, which provides electronic payment solutions.

“We are delighted to have someone of Don’s background and expertise on board,” said Dennis Mos, Semtek’s director of sales and marketing. “Don has many contacts in the bank and credit card industry, which is an area that we anticipate a tremendous amount of growth in the next few years.”

About Semtek Innovative Solutions Corporation

Founded in 1998, Semtek Innovative Solutions Corporation is a developer and manufacturer of magnetic stripe and smart card readers and terminals. The company’s mission is to bring new technology into the card reader market to support the growing e-commerce and financial transaction markets. In 1999, Semtek introduced a family of magnetic card readers that works with all standard digital interfaces and protocols. Available to OEMs and VARs, these readers are available in single reader or hybrid magnetic card and smart card configurations. Semtek’s competitive advantage: its products are cost effective and easily customizable. The company recently made its first foray into the wireless & handheld arena with its PDA Swipe(TM), a card reader that works with Palm Powered(TM) handheld devices. For more information call 858-278-6003, or visit [http://www.semtek.com][1].

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

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CYOTA ENTERS MARKET

Cyota, a leading payment
security company, is expanding its global reach and announced a new
distribution partnership with Intelligent Wave Inc., the largest
software
developers and system integrators for credit card authorization in Japan, with
more than 70% share of that market. The agreement will allow Cyota to quickly
and effectively penetrate the Japanese market, using IWI’s market position and
reach. The first products to be jointly marketed are Cyota’s Verified by Visa
product Cyota SecureVbV and the Cyota SecureSuite platform. Triangle
Technologies Ltd., a leading business development advisory firm for
non-Japanese firms in the Japanese market, played a key role in developing the
partnership agreement.

Cyota recently launched SecureSuite at First USA, Bank of America and TSYS.
Cyota is delivering SecureVbV, a certified Verified by Visa solution, as the
first part of SecureSuite to their clients. SecureSuite is an integrated
online
payment security platform designed to seamlessly integrate a wide range of
authentication and credit card security products including Verified by Visa,
MasterCard SPA and Cyota’s surrogate number solution called SecureClick into a
single user experience. SecureSuite allows banks, with a single backend
integration, to offer consumers a unified front end that supports association
standards, payment security and transaction products. This risk-free approach
helps issuers start a payment initiative without any integration efforts or IT
investment in equipment.

“We view Cyota as a best-of-breed technology company. The SecureSuite platform
is unmatched in the industry. IWI focuses on partnerships with leading
technology companies and we believe Cyota completes our product offerings for
our leading customers,” said Mr. Kazuhiko Adachi, Chairman of IWI.

“IWI is well regarded as the leading credit card software services vendor in
Japan, and we have been impressed with their technical leadership and market
dominance. SecureSuite is a perfect fit for IWI’s customers and
representatives
and we are pleased to be working such a well regarded firm,” said Naftali
Bennett, Cyota President & CEO. “We look forward to bringing our market
leadership experience in the US to the Japanese market.”

“The Japanese Internet commerce market has been growing rapidly, but one of
the inhibitors has been the lack of security with which consumers can make
online payments,” commented Yoshinori Oikawa, Vice-President of Triangle
Technologies. “Cyota’s market leadership in payment security is viewed very
positively by Japanese credit card issuers, and we believe that it will help
stimulate the further growth of e-commerce.”

About Cyota

Cyota
(http://www.cyota.com) is a leading payment security
company that is dedicated to helping financial institutions strengthen their
customer relationships through reliable, flexible, easy to use online
security,
payment and transaction products. Cyota SecureSuite is a revolutionary
platform
designed to serve as the backbone for integrating numerous e-payment
initiatives. Cyota services multiple clients in North America and worldwide.
Founded in 1999 by leading card and security industry experts, Cyota is
headquartered in New York with offices worldwide. Cyota is led by a respected
management team with extensive experience in the security, Internet and
banking
industry and is supported by an international Advisory Board comprised of
world-renowned financial and security experts.

About IWI

IWI is a leading software developer and related systems provider with
dominance
in on-line credit authorization systems, enjoying more than 70% share among
major card issuers in Japan.
IWI has gained an impressive customer base by value-added, “best of breed”
solutions over the past 17 years. IWI supplies software and professional
services to a number of industries including banks, bank-affiliated companies,
large-scale retailers, credit companies, non-financial institutions,
information processing centers, electronic commerce, world cashing services,
consumer finance companies, securities businesses, telecommunications and so
forth.

About Triangle Technologies

Triangle Technologies is a leading business development firm specializing in
the Japanese market. Headed by Dr. Daniel Isenberg (1981-1988 on the
faculty of
the Harvard Business School) with a professional team of 14 people in and out
of Japan, Triangle Technologies has facilitated over 80 technology related
deals between Japanese and non-Japanese companies. Triangle Technologies helps
non-Japanese clients build strategic alliances, raise capital and create new
ventures. For more information please visit our website at
http://www.triangletech.com.

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