GCS IQ

Global Card Services has implemented several credit card management services for the T&E industry using Web-based systems powered by the ‘Sybase Adaptive Server IQ Multiplex’. ‘IQ Multiplex’ is a high-performance, relational database that provides scalable e-business intelligence for Web-enabled data warehousing. Global Card Services provides payment gateways to facilitate credit card processing; systems to automate retrieval and chargebacks; and management services to major hospitality companies across the world such as car rental companies, cruise lines, timeshares and ski resorts. GCS uses ‘IQ Multiplex’ technology to process information for all of its online credit card applications.

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Hypercom Funding

Hypercom said yesterday it has secured a commitment for $45 million in new financing. The refinancing package is being led by Wells Fargo’s Foothill Capital Corp. The company says the cash infusion, coupled with the recently completed securitization of the Golden Eagle Leasing portfolio, puts the firm on strong financial footing. The proposed $45 million facility will completely replace the existing principal lending facility. The funds will be used to refinance outstanding debt as well as for general corporate purposes, including working capital and capital expenditures. Hypercom says overall conditions for the payment terminals business are becoming favorable as the industry is starting to move into a “re-terminalization” cycle occurring partly because of the anticipated global adoption of smart cards. Last month, Hypercom said it expects to return to profitability during the latter part of the year. The company reported first quarter net revenues of $71.1 million compared to $77.3 million in the year-ago period. However demand for the advance technology Internet-enabled ‘ePic’ terminals has produced a backlog of $163 million, up from $158 million at the end of the fourth quarter of 2000. (CF Library 5/3/01)

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Wireless VIPdesk

VIPdesk, the leading Internet concierge service, announced the launch of their online personal assistant platform into the wireless market, offering enterprises the ability to provide their customers with wireless access to local city information and a live, personal assistant.

With this expanded service, customers can now review local city content and access live concierges through Web-enabled phones and PDAs using PALM operating systems.

With VIPdesk’s wireless application, an end-user can contact a live concierge anytime, anywhere who can help them conduct countless personal and business tasks. VIPdesk’s highly-trained network of concierges can do everything from simple tasks including making last-minute reservations at a five-star restaurant and ordering theater tickets to more complex endeavors such as planning the perfect weekend “get-away.”

In addition, during the initial roll-out, a customer can access pre-screened information that provides customized content on fourteen major cities. This pre-screened content will be expanded to fifty-two cities during phase-two to be completed the end of July.

“In an increasingly mobile society comprised of growing numbers of overwhelmed consumers, we anticipate the wireless coordination of personal and convenience services to be a leading customer retention and loyalty tool for today’s companies,” says VIPdesk CEO, Mary Naylor. “VIPdesk’s foray into wireless confirms our dedication to providing our corporate partners with the most high-quality, easily accessible, expedient service to help their customers to more effectively and effortlessly manage their everyday tasks.”

VIPdesk currently provides its concierge services through co-branded Web sites with blue chip partners including Freddie Mac, MasterCard, Citibank, e-Tenants.com and Diners Club. Through e-mail, live chat and telephony, VIPdesk’s professional, trained concierges serve more than 10 million users.

“Several large companies have turned to VIPdesk as an incentive tool because of its ability to go beyond high-quality content and bring a live, interactive service to the Internet,” says Naylor. “We anticipate that expanding this personal, customized service into the wireless arena will continue to increase usage and attract consumers. Moreover, we are finding that the wireless carriers are intrigued by our high tech, high touch offering which provides a value-add service for their customers while providing revenue opportunities for the company.”

About VIPdesk ([www.vipdesk.com][1])

VIPdesk helps busy people get things done through real-time web-based coordination of personal and convenience services. The VIPdesk concierge program combines state-of-the-art technology, a broad range of valuable products and services, exceptional personalized convenience services, deep technical expertise and industry experience to create a truly unique value-added service for customers and/or employees.

Users can access the service via phone, e-mail, web site, live chat, and wireless devices 24 hours a day, seven days per week. This innovative technology and centralized infrastructure of local concierges acts as a powerful retention and productivity tool that currently serves more than 10 million users. Founded in 1997 by Mary Naylor, a 14-year veteran of the concierge industry, this personal assistant infrastructure platform serves clients including, Freddie Mac, MasterCard, Citibank, e-Tenants.com and Diners Club.

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

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CHARGEBACK SYSTEM

Trintech Group Plc announced that it
has signed a deal for the implementation of its Issuer Chargeback System
(PayWare Resolve IS) with Corner Banca, one of Switzerland’s largest card
issuers. This contract underpins Trintech’s leadership position for dispute
resolution solutions in the Swiss market.

PayWare Resolve will transform the way that Corner Banca manages its
chargeback processing by automating an area that has to date been almost
entirely manual. Increased automation within the chargeback department will
help Corner Banca to increase processing efficiency and reduce costs while
simultaneously improving the level of service it can offer its cardholders
during the dispute process.

“As the level of payment transactions grows rapidly, exponential levels of
chargebacks are associated with that growth, making it no longer viable to
operate with a paper based system,” said Stefano Schmid, IT & Organization
Supervisor for Corner Banca. “PayWare Resolve will give us the tools to help
us scale up our card operation and aid us in maximizing the opportunities that
the growth in the payments industry presents.”

“We believe that Corner Banca will realize impressive benefits resulting
directly from the implementation of an automated chargeback management
system,” said John Harte, Trintech’s Executive Vice President of Sales and
Marketing. “The combination of improved productivity and enhanced customer
service has delivered impressive rewards to existing customers of PayWare
Resolve IS.”

PayWare Resolve differentiates itself from other exception management
systems with its built-in knowledge of national and international chargeback
regulations. The chargeback regulations for VISA and MasterCard/Europay have
been encoded into the application so that the system can recommend the
appropriate action and chargeback reason codes for each case, replacing the
need to navigate a series of intricate paper trails and complex and changing
regulations. Combined with the solutions ease of use, this dramatically
reduces the average training time for new staff to be fully operational.

PayWare Resolve Product Overview

Trintech’s Acquirer Chargeback System (PayWare Resolve) automates the
exception management process from end-to-end, increasing processing efficiency
and creating more opportunities for greater customer care.
PayWare Resolve combines a powerful decision-support environment with
compliant dispute regulations to enable optimum management of the entire
chargeback process using an easily understood graphical user interface, for
swift and informed decision-making.

The essential difference between PayWare Resolve and other exception
management systems is its built-in knowledge of national and international
chargeback regulations. The chargeback regulations for VISA and
MasterCard/Europay have been encoded into the application so that the system
can recommend the appropriate action and chargeback reason codes for each
case, replacing the need to navigate a series of intricate paper trails and
complex and changing regulations. Combined with the solutions ease of use,
this dramatically reduces the average training time for new staff to be fully
operational.

About Trintech

Founded in 1987, Trintech is a leading provider of secure electronic
payment infrastructure solutions for card-based transactions for physical
world commerce, eCommerce and mobile commerce. The company offers a complete
range of payment software products for credit, debit, commercial and
procurement card applications, as well as being a world leader in the
deployment of payment solutions for Internet commerce that are fully SSL and
SET(TM) compliant. Trintech’s range of scalable open systems architecture
solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant
and financial institution requirements for physical payments and the emerging
world of electronic commerce. Trintech can be contacted in the U.S. at
2755 Campus Drive, San Mateo, CA 94403 (Tel 650-227-7000) and in Ireland at
Trintech Building, South County Business Park, Leopardstown, Dublin 18
(Tel 353-1-207-4000). Trintech can be reached on the Web at
http//www.trintech.com .

About Corner Banca

Overview of the Group

Corner Banca is an independent, private, Swiss banking institution. Formed
in Lugano on 3 July 1952, it takes its name from the old family name of its
founder, Vittorio Cornaro (Corner). In addition to the parent company whose
head office and general management are in Lugano, with two branches in Locarno
and Lausanne, the Corner Banca Group has affiliates in Luxembourg and Nassau,
as well as Finanziaria & Valori, a trust and holding company, Navimar, a
shipping management company, Corner Trust, Guernsey (providing trust services
within Europe) and two representative offices in Sao Paulo (Brasil) and Monaco
(Principaute).

The qualified majority of the share capital is controlled by Swiss family
groups, with Credit Suisse Group holding 27%.

Bankers and Managers

The General Management of Corner Banca is entrusted to Paolo Cornaro and
Luigi Dell’Acqua. Both belong to the majority shareholder group. Corner thus
stands apart from the other main Ticino banks in that its directors are
bankers and managers.

Private Banking

Corner Banca operates in all traditional bank services.
Private Banking is its principal area of business since the foundation.
The long experience gained in this specific area has made the bank highly
competitive compared with the other banks in its region.

The Bank Card Center

Another important business activity of Corner Banca is the issue of credit
cards.

Corner has been the first Swiss bank to introduce VISA cards in
Switzerland, in 1975. Since then, the activity has grown steadily, as has its
profitability. The success achieved with VISA cards encouraged Corner to begin
issuing MasterCard in 1998.

Corner Banca can be reached on the Web at http//www.corner.ch

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TeamPoS 2000

Fujitsu Transaction Solutions Inc. announced the purchase and implementation of the Fujitsu TeamPoS 2000 point-of-sale system by brand-name specialty retailers worldwide. The popular POS system is widely available through Fujitsu’s expanding network of retail-specific, value-added resellers that can provide a range of software and services optimized for the TeamPoS 2000 and tailored specifically to specialty retailers’ needs.

“Specialty retailers are finding a competitive advantage with the Fujitsu TeamPoS 2000,” said Bruce Minale, vice president of indirect channel sales at Fujitsu. “They’re able to reduce costs, improve customer service and loyalty programs, and streamline their in-store technologies while gaining the extra advantage of working with some of the best VARs in the business.”

Among others, some of the specialty retailers recently selecting the Fujitsu TeamPoS 2000 include:

– Best Cellars, an eight-store chain based in San Diego, served by Kliger-Weiss Infosystems Inc. (KWI), based in Port Washington, N.Y.

– Felissimo Universal Corp., a five-store chain based in Tokyo, Japan, served by Tesoro Technologies Inc. based in Toronto, Ontario, Canada.

– Ferragamo, a 16-store chain based in New York, served by Point of Sale System Services Inc. (PSS), based in Leominster, Mass.

– Jysk Furniture, a 700-store chain based in Denmark, served by Malibu Systems Inc., based in Los Angeles.

– Kenneth Cole, a 70-store chain based in New York, served by KWI.

– London Fog, a 40-store chain based in New York, served by KWI.

– Shanghai Tang, a six-store chain based in Hong Kong, served by Tesoro Technologies Inc.

– Wicks’n’Sticks, a 220-store chain based in Houston, served by KWI.

During the next several months, Fujitsu and its channel partners will be implementing the TeamPoS 2000 in more than 300 different stores, primarily in the United States and Canada. The TeamPoS 2000 is a point-of-sale system that adapts easily for POS, customer kiosks, multimedia displays or management terminals. Its powerful, modular construction enables the system to grow and change with the retailing environment, resulting in the elimination of costly system replacements, maintenance and upgrades. It also interoperates with Windows 98, Windows NT and Windows 2000 operating systems and was the first to earn certification by Microsoft Windows Hardware Quality Labs (WHQL). Retailers can also choose from a wide range of configuration options – including processors, hard drives, CD-ROM and DVD – to fit their specific in-store objectives.

TeamPoS 2000 supports the most powerful POS applications for both fat and thin-client architectures. It features substantial memory and disk capabilities, plus on-board, high-speed LAN connectivity to help manage multimedia, CRM and e-business applications.

About Fujitsu Transaction Solutions Inc.

Fujitsu Transaction Solutions Inc. is a wholly owned subsidiary of Fujitsu Limited (Tokyo Stock Exchange: 6702), a leading provider of Internet-focused information technology solutions for the global marketplace. The company specializes in IT lifecycle solutions for the retail and financial systems markets. The company has almost 30 years experience in providing hardware/software solutions and services for retail point-of-sale (POS), specialized mobile computing and automated-teller-machine (ATM) applications. Its customer relationship management (CRM) solutions enable Fujitsu customers to build high-value, personalized relationships with consumers. Web site: [www.ftxs.fujitsu.com][1]

[1]: http://www.ftxs.fujitsu.com/

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FECC FEDS

First Ecom.com, Inc. announced that it had completed the acquisition of the remaining 50% of the outstanding shares that it did not previously own in First Ecommerce Data Services Limited (FEDS) from the Bank of Bermuda Limited (Bank of Bermuda) for US$ 4.25 million. The acquisition brings First Ecom’s ownership of shares in FEDS to 100% making it a wholly owned subsidiary of the Company.

First Ecom also announced that the FEDS Payment Switch is now operational. The Switch is a vital element of the payment process. The Switch performs a number of vital tasks, although its primary role is to route transactions delivered from the Internet Payment Gateway onto the Visa, MasterCard or other payment networks.

“The 100% ownership of FEDS by First Ecom is a significant step in our overall strategy of becoming a major player in the payment processing field,” said Gregory Pek, president and Co-CEO of First Ecom.com. “By wholly owning FEDS we can pursue our goals aggressively and unencumbered. The Bank of Bermuda was a great partner and early on in our relationship we drew heavily on its experience. Both First Ecom and the Bank felt that it makes business sense to have a processor that is independent of any bank.”

Pek continued, “When we announced the proposed transaction with Gasco Energy, Inc., we indicated that First Ecom’s electronic payment processing business would continue. This acquisition of the remaining ownership of FEDS is an indication of First Ecom’s commitment to building a strong payment processing business.”

“FEDS is now truly an independent third-party payment processor, providing both e-commerce and traditional Point of Sale Processing services,” said David Lema, president of FEDS. “As such we can start to fulfill our potential, operating in the Americas and Caribbean region utilizing our multi-currency payment processing platform. We will be working closely with our colleagues at First Ecom Data Services Asia to provide a state-of-the-art global payment processing solution for banks and their merchants. In addition, FEDS is uniquely positioned to provide its services to other processors, saddled with aging and inflexible legacy systems.”

FEDS was formed early 2000 as a joint venture operation between Bank of Bermuda and First Ecom. During the ensuing year FEDS developed its payment processing platform, which is capable of processing electronic payments in multiple currencies in a secure and tax-neutral environment.

About First Ecom.com

As a global provider of electronic payment processing, First Ecom.com provides secure, easy-to-implement and low-cost online payment processing services to banks and their merchants worldwide. Through strategic partnerships with banks, ISPs, e-commerce product suppliers, system integrators and storefront solution providers, First Ecom.com will process credit card transactions made over the Internet in multiple currencies, either domestically or offshore in a tax-neutral jurisdiction.

About First Ecommerce Data Services Limited (FEDS)

A wholly owned subsidiary of First Ecom.com Inc. (NASDAQ FECC, BSX FECC, FECC BH), FEDS provides banks and financial institutions in the Americas and Caribbean region with universal, secure, cost efficient electronic payment solutions.

FEDS is an independent third-party processor. It works with financial institutions to provide the institution and its merchants with a multi-currency, advanced electronic payment processing solution. The FEDS Processing Solution features online and batch transactions, processing for credit and debit cards as well as authorization, electronic data transmission for settlement and full transaction reporting.

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Wireless Ventures & TrackPower

Wireless Ventures, Inc. announced that it is a party to an exclusive three year services agreement with TrackPower Inc. under its acquisition of 4CASH ATM Services.

Under the terms of the agreement Trackpower grants to 4Cash the exclusive right to act as their Automated Teller Machine (ATM) partner to install, maintain and operate ATMs in locations that Trackpower contracts with at any Racetrack or Gaming related facility. 4CASH will supply, install and commission the ATM’s to process transactions and other services at its expense, with surcharge and revenue sharing structure as set out in the agreement.

4CASH grants to Trackpower the exclusive right to act as their sales and marketing representative to any Racetrack or Gaming related facility.

Stephen Cussons, President & CEO of Wireless Ventures stated, “The signing of this agreement with TrackPower is very important to the growth of the company. This is our first major contract and it will provide us with an entry into very high profile locations across North America. Not only do Racetrack and Gaming locations typically have high volume transactions, the strengths of TrackPower and the Post Time technology will allow us to be innovative in creating multiple revenue streams from these locations.”

Hardave Gill, President of TrackPower stated, “We are very excited about this partnership with 4Cash and look forward to establishing TrackPower as the market leader in delivering interactive kiosks and ATM’s to the gaming industry.”

Wireless Ventures Inc. is involved in the marketing and management of ATMs and related services throughout Canada and the United States. Wireless Ventures Inc. through its operating division 4CASH ATM Services intends to be a leader in the self-service market space in North America by acquiring retail space to offer and deliver products and services that will provide revenues to retailers and bring value added benefits to consumers.

TrackPower, Inc. is currently launching an enhanced interactive video and information service for horseracing. TrackPower will combine leading-edge kiosk technology, provided through its Exclusive Worldwide Distribution Agreement with Post Time Technologies, Inc., with ATM’s to effectively deploy an integrated information service at racetracks, OTB’s and other gaming facilities. The kiosk/ATM system will deliver information, cash, advertising content, loyalty programs, integrated race information, entries and results, live and archived video, e-commerce and other future applications.

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KNTO MARKETING

Visa International signed an exclusive marketing partnership with the Korea National Tourism Organization (KNTO), building on an already strong partnership between that country’s national tourism body and the world’s leading card payment brand.

Under the three year partnership agreement, Visa is granted exclusive advertising, promotional and marketing rights in connection with consumer payment services, title sponsorship of KNTO events, and preferred brand status for online sales and reservations on KNTO websites.

The partnership also covers the mutual use of both organizations’ brand logos as well as cooperation on merchant signage and promotions targeting major tourist areas in Korea.

At the signing ceremony in Seoul today, Rupert Keeley, President of Visa International Asia Pacific, emphasized the significance of the partnership, commenting, “The exclusive marketing partnership with the KNTO is not simply the culmination of the joint efforts between our organizations to date. It is a new and much broader platform from which Visa will leverage the power of Korea’s, and the world’s, number one consumer payment brand, to launch powerful marketing initiatives to promote Korea as a travel destination to Visa cardholders globally, and to increase tourist spend post arrival.”

Specifically, Visa will run print and other media advertising campaigns, to achieve a target of over 30,000 tour package sales and other travel incentive packages through tie-ups with airlines and travel agencies, and promote specific marketing campaigns through its global network of member financial institutions. The value of this marketing activity is an estimated US$26 million.

In addition to international promotions, Visa will run a merchant partner programme in major tourist belts in Korea aimed at improving customer service for overseas visitors.

Keeley further added, “At Visa we believe that long term alliances with national tourism organizations produce a winning formula. The emphasis is on long term benefits to everyone involved – not just the short terms gains of a single event sponsorship.”

In 1998, Visa formed a three year marketing partnership with the Australian Tourism Commission, and this year Visa will forge a partnership with the Singapore Tourism Board for the “Great Singapore Sale” for the same term.

As the unchallenged leader in the global payment industry with over one billion cards on issue, generating over US$1.9 trillion dollars in card sales volume – Visa is well positioned to add significant value to these marketing partnerships.

For the fourth consecutive year, Visa was voted “The World’s Leading Credit Card” by the World Travel Awards, an annual award that celebrates excellence in world’s travel and tourism industry. Over the past year, nearly US$317 billion was spent for Travel and Entertainment worldwide by Visa cardholders.

Mr. Cho, President of the Korea National Tourism Organization also emphasized the benefits of the partnership for Korea, saying, “The KNTO has worked closely with Visa to promote Korea as a tourism destination to Visa cardholders globally. By leveraging the unsurpassed global reach of the Visa brand, we are confident that the partnership signed today will see tangible benefits – in increased exposure of Korea as a tourism destination as well as in incremental increase in revenue – to both the domestic tourism industry and the broader Korean economy.”

As part of a long-term commitment to Korea, Visa has worked in close partnership with the KNTO to promote Korea as a tourist destination since the launch of the successful destination marketing program “Korea Welcomes Visa” in 1998. In 2000 alone, this marketing program contributed to over US$740 million in tourists’ Visa Card spending in Korea.

In May, with the cooperation of the KNTO, Visa launched the Visa Customer Center Seoul, a full-service information and travel booking center for tourists and business travelers.

About Visa International

Visa is the world’s leading payments brand and the largest payments system worldwide. Visa-processed more than US$1.9 trillion in sales volume in 2000, and Visa cards are accepted at over 22 million physical locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders.

Visa is the number one payment brand in Korea, with over 24 million cards on issue generating over KRW100 trillion (US$84 billion) in card sales volume.

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BEETLE OnePOS

TX-based Wincor Nixdorf will unveil this morning a new, advanced and integrated point-of-sale system. The ‘BEETLE/OnePOS’ system combines an integrated POS unit with the flexibility and reliability of a modular system. Among the key features of the solution: choice of Windows or Linux operating systems, integrated LAN and video, audio interface, and cash-drawer independence for flexible mounting possibilities. Wincor Nixdorf’s BEETLE family of POS terminals range from thin-client POS terminals, to lean- and fat-client POS systems, kiosks, lottery terminals, and mobile POS devices. BEETLE systems include standard retail interfaces, accept a wide range of peripherals, and are compliant with established retail software standards. Last month Wincor Nixdorf added support for dual-screen video to its BEETLE Family of POS systems. The firm also introduced an untethered POS system in May. (CF Library 5/9/01; 5/31/01)

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WORLD

For the fourth consecutive year, the World Travel Awards, the prestigious awards ceremony that acknowledges significant achievements in all areas of the travel and tourism industry, has named Visa the “World’s Leading Credit Card.”

Visa was recognized for its commitment to the traveller and the travel industry, and is considered by many as “the World’s Best Way to Travel.” Criteria used in evaluating companies and organizations include scope of distribution, convenience, and overall best services.

Candidates for nomination in 152 categories were based upon the previous year’s voting. Throughout 2000, travel agents from more than 25,000 agencies in 182 countries registered millions of votes online at the official World Travel Awards website at www.WorldTravelAwards.com, with most of the leading travel Internet sites offering additional online voting facilities.

“We are delighted that Visa has again captured the distinction of `World’s Leading Credit Card’ by the World Travel Awards, for a fourth year in a row,” said Tom Shepard, executive vice president, Global Marketing Partnerships and Sponsorships, Visa International. “With Visa’s acceptance at more than 22 million locations around the world, cardholders enjoy the convenience and confidence that Visa provides. It is a true honor to receive this distinction from one of the industry’s most important awards programs.”

“The World Travel Awards has become the event for the `who’s who’ of the global travel community,” said Manon Han, the Organising Director of the World Travel Awards. “We’re extremely proud to play a role in both celebrating the past achievement and encouraging the future services and products in the industry. The World Travel Awards is now being recognised as the best endorsement that any travel product could receive.”

Established in 1993, the World Travel Awards held its eighth-annual ceremony in conjunction with the Pacific Asia Travel Association’s 50th Anniversary Conference at the Shangri-La in Kuala Lumpur, Malaysia, on April 10, 2001. The World Travel Awards honors leading travel-related organizations in worldwide and regional categories that range from airlines, hotels, beaches and cruise lines to credit cards, car rental companies and hotel reservation services.

Visa International is a strategic partner with many of the leading global corporations and merchants, creating retail and T&E promotions that deliver extraordinary values to Visa cardholders worldwide. Visa’s extensive merchant relationships and marketing partnerships, as well as its unsurpassed acceptance in nearly 300 countries and territories, are driving Visa’s growth in the retail and T&E arenas.

For more information on the 2000 World Travel Awards or for a complete list of winners, visit www.WorldTravelAwards.com.

About Visa

Visa is the world’s leading payment brand and the largest payment system worldwide. Visa-branded cards generate more than US$1.9 trillion in annual volume annually and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce – or universal commerce – the ability to conduct commerce anytime, anywhere, over any type of device. Visa’s Internet address is www.visa.com.

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E-SECURITY BANKS

Baltimore Technologies, a global leader in e-security, announced yesterday that
HypoVereins Bank in Germany, Staalbankiers in The Netherlands, Zagrebacka
Banka in Croatia, Allied Irish Bank and Anglo Irish Bank in Ireland and Dexia
Bank in Belgium have all chosen Baltimore’s solutions to provide the level of
security necessary to give customers and employees the confidence needed to
transact and communicate securely online. These customers are further
endorsement that financial institutions worldwide are using Baltimore
e-security to enable secure, authenticated online banking and internal
communication. In addition, these contracts are a solid indication of
Baltimore’s ability to provide e-security solutions for enterprise
applications such as Microsoft Windows 2000.

Baltimore would, however, like to make clear that these particular
contracts were signed over a period of time and yesterday’s announcement
should not be interpreted as being indicative of material incremental license
revenue for the company. However, Baltimore is exploring additional future
revenue opportunities from these customers.

About Baltimore Technologies

Baltimore Technologies develops and markets security products and services
to enable companies to develop trusted, secure systems for e-business, the
Internet and mobile commerce. Its products include a wide range of Public Key
Infrastructure (PKI) products and services, access control and authorisation
solutions, content security (MIMEsweeper) products, wireless e-security
solutions, cryptographic tool-kits, security applications and hardware
cryptographic devices. Baltimore’s global professional services organisation
offers a wide variety of consulting, training and deployment support to its
customers worldwide. Baltimore Technologies markets and sells its solutions
worldwide directly and through the TrustedWorld partner program. Baltimore
TrustedWorld includes many of the world’s leading technology companies and a
wide variety of global, regional and local business alliance partners.

Baltimore Technologies plc is a public company with dual listings on
NASDAQ (BALT) and the London Stock Exchange (BLM).

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MORE FUELMASTERS

OTI announced that its wholly owned subsidiary, OTI Africa, has received orders from BP Zambia and BP Tanzania to install 26 FuelMaster stations servicing commercial customers to their networks.

Thousands of additional vehicles are expected to be installed as a result. Additionally, both companies will install systems on-site for a number of prominent fleet customers, enabling them to use FuelMaster for refuelling both at home and on the road. The installations will be completed in Zambia during the third quarter, and the company intends to launch the product in the fourth quarter. FuelMaster is BP’s chosen brand name for OTI’s Gasoline Management System (GMS) in the African market.

These orders are part of a three-year agreement between the two companies to extend the FuelMaster network throughout the southeastern portion of the continent. OTI receives transaction fees based on fuel volumes through the FuelMaster system, in addition to on-going service fees. FuelMaster’s expansion throughout Africa is a result of the system’s success in South Africa, where more than 10,000 vehicles have been installed and over 6,000 FuelMaster Express tags have been issued since its launch late last year. As a result of the FuelMaster system, BP has increased its market share in these African markets. While the FuelMaster program provides convenient fuel management for fleet customers, the FuelMaster Express program targets the private motorist market.

“OTI has proven the success of FuelMaster in South Africa, generating additional demand by fleet companies throughout southern Africa,” said Charlotte Hambly-Nuss, Managing Director of OTI Africa. “Continuing our expansion into Zambia and Tanzania with both on-road and home-base installations offers our fleet customers unmatched support wherever their business takes them.”

“These new sites expand our ongoing partnership with BP South Africa while continuing to fulfill our objective of generating multiple revenue streams from our projects, including support fees and transaction fees,” said Oded Bashan, President and CEO of OTI. “GMS is a proven success around the world, including Turkey, Ecuador, South Africa, and beyond.”

OTI has been appointed by BP to provide encoding, installation, driver training, maintenance, repair, quality control, customer care, technical support, and development services for the FuelMaster program

How FuelMaster Works

Each FuelMaster vehicle is fitted with an antenna mounted around the fuel tank inlet, connected to a smart card installed in the vehicle. The smart card provides unique identification for each vehicle, and is also capable of recording information such as odometer readings. A matching antenna installed on the pump nozzle, is connected to the site computer. When the pump nozzle enters the fuel inlet, the smart card communicates with the site computer. Once the computer is satisfied that a legitimate driver is attempting to fuel an authorized vehicle with the proper fuel grade, the pump will begin dispensing fuel. During refuelling, operating data from the smart card is transmitted to the computer for reporting purposes. Removing the nozzle will immediately stop the flow of fuel. Comprehensive fuel management reports are generated and provided to fleet operators on a regular basis.

How FuelMaster Express Works

The FuelMaster Express program uses an OTI smart key fob to carry a driver’s payment information. The key fob is simply presented to the reader located on the pump nozzle. The reader electronically authorizes the data from the key fob, and if valid, initiates the fueling process. When fueling is complete the key fob is returned to the driver who can depart immediately. It is not necessary to sign a receipt, but a receipt may be requested.

About OTI

Established in 1990, OTI (On Track Innovations) designs and develops contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include products for mass transit, parking, gas management systems, loyalty schemes, identification, and secure campuses. OTI has regional offices in the US, Europe, Asia Pacific, and Africa to market and support its products. The company was awarded the prestigious ESCAT Award for smart card innovation in both 1998 and 2000. Visit OTI on the Internet at www.oti.co.il.

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