TCF & Mcard

The University of Michigan and TCF Financial Corporation announced that TCF National Bank has been designated as the official financial service provider to the Mcard campus card program at the University of Michigan.

“This is a tremendous honor for us and a great business opportunity with over 64,000 prospective customers. TCF was chosen because of our deep experience in campus card programs across the country, our unique product line that features Totally Free Checking, and convenient distribution in the Ann Arbor area,” commented Thomas Wagner, President of TCF National Bank, Michigan, which has 13 offices in the Ann Arbor area. TCF National Bank sponsors similar campus card programs at the University of Minnesota, Northern Illinois University, St. Cloud State University in Minnesota, and Saginaw Valley State University in Michigan.

“TCF Bank was an ideal fit for the University,” said Tim Slottow, Associate Vice President, Business and Finance for the University of Michigan. “The TCF team aggressively pursued our relationship, demonstrated a high degree of expertise in campus programs and developed a customized product and service mix that should benefit all members of the University community.”

The Mcard is the University of Michigan’s single campus card program that combines many features including identification, library privileges, building access, meal plans, and banking services. Each student, faculty member, staff member, and other members of the University community are eligible to receive an Mcard. Additionally, staff and faculty members will qualify for discounts on loans, bonus rates on Certificates of Deposit and other free services. Upon their first account deposit, students will receive a free Michigan(R) sweatshirt.

TCF is a Minnesota-based national financial holding company with $11.8 billion in assets. TCF has more than 350 banking offices in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana. Other TCF affiliates provide leasing, mortgage banking, and investments and insurance sales.

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GLOBAL ATM ALLIANCE

The French bank BNP Paribas announced that it will join Bank of America, Barclays, Deutsche Bank/Deutsche Bank 24, Scotiabank and Westpac in a Global ATM Alliance to create innovative financial services expressly for their customers who travel internationally.

The group’s first major initiative is to offer free access to the alliance’s 23,000 cash machines in Australia, Canada, France, Germany, the United Kingdom and the United States. Bank of America customers can begin using BNP Paribas’ ATMs without charge on August 1. Additionally, Bank of America customers can access the other four alliance banks’ ATMs without charge on July 1. Ultimately, the Global ATM Alliance aims to expand its service to every continent.

“We are very pleased that BNP Paribas has joined the Global ATM Alliance,” said Bill Raymond, manager of ATM Management & Development, Bank of America. “Extending the ATM network into France is a terrific added value for our customers who travel in Europe.”

Initially, the access fee waiver will apply to transactions performed at member ATMs in the following locations

·Bank of America – more than 12,000 ATMs throughout the United States

·Barclays – more than 3,000 ATMs throughout the United Kingdom

·BNP Paribas – 2,700 ATMs throughout France

·Deutsche Bank 24 – 1,800 ATMs throughout Germany

·Scotiabank – more than 2,100 ATMs throughout Canada

·Westpac – 1,500 ATMs throughout Australia

One of the world’s leading financial services companies, Bank of America is committed to making banking work for customers like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation’s largest financial services network, including approximately 4,400 domestic offices and 13,000 ATMs, as well as 38 international offices serving clients in 190 countries, and an Internet Web site that provides online access for more than 3 million customers, more than any other bank. Bank of America stock (ticker BAC) is listed on the New York, Pacific and London stock exchanges.

BNP Paribas the leading banking group listed in France has more than 2,000 domestic offices and a network of 2,700 ATMs. It is number 1 in France in e-banking. BNP Paribas ranks number 2 in Euroland in terms of earnings (4.124 billion in 2000) and has assets of 694 billion (Euros). The group employs 80,000 people worldwide and has one of the world’s largest international networks, extending in more than 80 countries. Its core businesses are retail banking, corporate and investment banking, international private banking and asset management.

Barclays Barclays PLC is the UK’s fourth largest bank and has total assets of £316 billion. Barclays has over 16 million customers, over 2,129 UK branches, 624 branches overseas and 3,800 ATMs in total. The group also operates in over 60 countries around the world and is a leading provider of co-ordinated global services to multinational corporations and financial institutions in the World’s main financial centres. Barclays has been involved in banking for over 300 years and has 75,300 employees world-wide.

Deutsche Bank/Deutsche Bank 24 One of the world’s leading financial institutions with total assets of 940 billion (Euros) and more than 98,000 employees worldwide. Within the “Private Clients and Asset Management” Group, Deutsche Bank provides its more than 11 million private and retail customers an extensive offer of Private Banking and Personal Banking (Deutsche Bank 24) services.

Scotiabank This is one of North America’s premier financial institutions with about CAD 275 bn. in assets and approximately 52,000 employees worldwide including affiliates. It is also Canada’s most international bank, with more than 2,000 branches and offices in over 50 countries and a network of 2,100 ATMs in Canada.

Westpac Banking Corporation Westpac is Australia’s first bank and a leading provider of financial solutions to eight million customers in Australia, New Zealand and the Pacific region. The Westpac Group (including Bank of Melbourne and Challenge Bank) employs 29,000 people around the world, with total assets over AUD $184 billion and has 1,500 ATMs throughout Australia.

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Precis Name Change

Precis Smart Card Systems, Inc. announced the June 8 shareholder approval of an amendment of Precis’ Certificate of Incorporation to change its name to Precis, Inc. The name change is reflected on the Company’s newly redesigned web site at [www.precis-pcis.com][1].

The new web site features an updated look for Precis including a revised logo design. The site now also features a “Virtual IQ” site where potential investors can find a variety of information regarding the Company including stock quotes, officer information and press releases.

The site also features links to Precis’ subsidiaries, Care Entree and Foresight, Inc. Care Entree markets a national healthcare membership program that provides its members with significant savings on physicians, hospitals, dentists, prescription drugs, vision care, hearing and chiropractic services. Foresight provides product enhancements or “club benefits” to financial institutions, rental purchase dealers, consumer finance companies, retail outlets, employee groups and member-based associations.

For more information on Precis, its subsidiaries Foresight, Inc., or Care Entree, visit [www.precis-pcis.com][2], [ www.foresightclub.com][3] and [www.careentree.com][4], respectively.

[1]: http://www.precis-pcis.com/
[2]: http://www.precis-pcis.com/
[3]: http://www.foresightclub.com/
[4]: http://www.careentree.com/

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UNICREDITO JOINS CLS

UniCredito Italiano, Italy’s second largest banking group has become the sixth major new shareholder of the CLS Group this year, bringing the total number of financial groups as shareholders to 62. It joins a shareholder group that consists of many of the world’s largest commercial and investment banking organizations which collectively account for a substantial majority of the cross-currency trading in 16 countries.

UniCredito in due course will apply to become a Settlement Member of CLS Bank International, a “bankers’ bank”, which will provide a new global infrastructure for multi-currency payment clearing and settlement services. The process of continuous linked settlement (CLS™) will eliminate settlement risk in cross-currency payment instruction settlement making cross-currency settlement simultaneous for the first time.

Joseph De Feo, Chief Executive Officer of the CLS Group and President and Chief Executive Officer of CLS Bank, said
“CLS Group is gaining momentum and the announcement of another significant new shareholder in UniCredito endorses the strength of support for CLS amongst the global banking community.”

UniCredito Italiano was formed in 1998 when five Italian banks were brought together into a single group, with two more joining in 1999. Today, the organisation comprises seven banks in Italy and four banks in central and eastern Europe, positioning it amongst Europe’s leading banks, where it ranks 17th in term of market capitalisation.

Luigi Parrilla, Head of Group Treasury, UniCredito, comments

“UniCredito has international aspirations and FX plays an important part in our ability to compete effectively with other European banks. All of the banks within the group are set to benefit from CLS in terms of reduced risk and improved liquidity, and we see this as the beginning of a trend in Italy.”

The following banks were announced as shareholders of CLS Group earlier this year Banca Intesa, the largest Italian bank; Banco Popular Espanol, Spain’s third largest banking group; Dexia Banque Internationale á Luxembourg, Luxembourg’s leading bank; leading Japanese bank Sumitomo Trust (STB); and Zurcher Kantonalbank, Switzerland’s third largest bank.

About CLS

‘Continuous Linked Settlement’ (CLS™) is a process that enables two legs of a cross-currency transaction to be settled simultaneously. Representing a significant shift in the way cross border settlement has been done for centuries; it is a real-time, global settlement system that eliminates the settlement risk caused by delays arising from time-zone differences.

The continuous linked settlement service is offered by CLS Bank International (CLS Bank), a “bankers’ bank” that will provide a new global infrastructure for multi-currency payment clearing and settlement services, initially in foreign exchange.

CLS Bank is supported by 62 of the world’s largest financial groups, which account for a substantial majority of the cross-currency transactions in 16 countries and have invested more than $300 million to develop the settlement service.

CLS Bank is based in New York, regulated as a bank by the Federal Reserve Bank of New York, and is a wholly owned subsidiary of CLS Group Holdings, incorporated as CLS Services Ltd., a UK company based in London.

Further information on CLS, including shareholder details, can be obtained at www.cls-services.com

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Coinstar Board

Coinstar Inc. announced the nomination of Keith Grinstein, Fran Conley and Ronald Woodard to its board of directors, as well as a new date for its annual meeting.

The three nominees would replace Robert O. Aders, William D. Ruckelshaus and Coinstar founder and chairman Jens Molbak, whose terms expire this year.

“Over the past eleven years, I have enjoyed building Coinstar into a vibrant company,” said Coinstar chairman Jens Molbak. “Going forward, I have made a personal decision to spend more time with my family. The current management team has done a tremendous job running the business since I stepped down as CEO more than a year ago. Coinstar has a bright future with exciting growth opportunities and I look forward to continuing to serve Coinstar as a consultant.”

Mr. Molbak has decided to step down as chairman effective June 20, at which time board member Ronald A. Weinstein will assume the role of chairman.

The nominees would bring a strong and diverse mix of experience to Coinstar’s board. Mr. Grinstein is vice chairman of Nextel International. He is also a partner at two Seattle-based venture capital companies, Second Avenue Partners and Madrona Investments. His past experience includes work at AT&T Wireless Services (formerly McCaw Communications), where he served as president and CEO of the Aviation Communications Division. Mr. Grinstein currently serves on the board of directors for several public and private companies including The Ackerley Group, Car Toys, F5 Networks, Nextel International, and Terabeam.

Ms. Conley is founder and president of Roanoke Capital, a financial consulting firm, and a general partner of Roanoke Investors Limited Partnership. Prior to founding Roanoke Capital in 1982, Ms. Conley held a variety of positions at Rainier National Bank, including senior vice president and chief administrative officer of the bank’s Washington Division. She currently serves as a director for REI and Cutter & Buck.

Mr. Woodard is president and CEO of MagnaDrive Corporation. Mr. Woodard co-founded MagnaDrive after a 32-year career with the Boeing Company where he held numerous positions including president of the Boeing Commercial Airplane Group. He currently serves on the board of directors for Atlas Air. “Coinstar’s board of directors is looking forward to adding this new talent to its board,” continued Molbak. “At the same time, I’d like to thank Bob Aders and Bill Ruckelshaus for their superb service to Coinstar.” Coinstar’s annual meeting has been rescheduled from September 20, 2001 to August 10, 2001.

About Coinstar Inc.

Coinstar Inc. (Nasdaq:CSTR) owns and operates the only nationwide network of supermarket-based machines that offer coin counting and other electronic services. Linked by a sophisticated interactive network, the company has more than 8,500 machines throughout North America as well as in the United Kingdom. Meals.com, the company’s majority-owned subsidiary, is an infrastructure provider that helps supermarket retailers and packaged goods manufacturers communicate directly to consumers through the use of online and in-store technologies.

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WELCOME UPDATE

Catuity, Inc. announced its intention to appeal the decision of the judge in the Federal Court of Australia in legal proceedings commenced by Welcome Real Time for patent infringement in Australia.

In the last several weeks Catuity has consulted with its partners, customers and legal counsel. Many of these organizations have reviewed a range of relevant patents and the WRT proceedings. These organizations have urged Catuity to pursue an appeal, despite Catuity’s view that the decision has limited impact on its current or future business.

Catuity has been advised by Australian legal counsel that the decision applies only to smart cards in Australia used in accordance with the patent claims. Catuity has obtained U.S. legal counsel opinion that states inter-alia that WRT has no counterpart U.S. patent issued and that the judge’s opinion on infringement is contrary to accepted rules of claim construction under U.S. patent law. Patent law in Australia is different to the U.S., as are legal proceedings, and the situation in Australia has little relevance or impact on the development of the loyalty market in the United States.

It is clear Catuity can make changes to its systems and continue to develop, operate, market and sell its systems in all countries, including Australia. In a press release dated May 29, 2001, WRT acknowledged that Catuity could make such changes and avoid the patent. Catuity has reviewed possible technical changes and is satisfied that such changes will have very limited or no impact on the functionality and efficiency of its systems.

Catuity and its partners believe the courts are neither the best nor the proper place to resolve issues of this nature. There are a number of Australian and foreign patents issued and pending, some or all of which may impact Catuity, WRT and other market participants. Catuity and its partners agree that no single patent (or group of patents owned by one organization) will stand the test of legal challenges or allow any party to obtain a sustainable competitive advantage in the loyalty software market.

Catuity and its partners are working toward creating common, freely available, open standards that will allow loyalty programs to evolve from being small, proprietary, fragmented systems to being large, open, interoperable systems available to all. Key industry participants believe this goal is realistic and achievable (and has been achieved in other areas such as the EMV standard for smart card payments and the CEPS standard for smart card electronic purse). As part of this process, Catuity is holding discussions with many key industry participants and WRT. Catuity’s appeal of the decision of the Federal Court in Australia is considered necessary, at this stage, to achieve the industry’s goal.

Catuity, Inc. (www.catuity.com) is a leading provider of loyalty software systems. The Catuity software includes an integrated suite of applications that provide loyalty, ticketing, access control, and membership. The Catuity Loyalty System is ubiquitous in that it can operate on any device, any card program, and with any payment process, including stored value, smart cards and wireless applications. Catuity unites the brick-and-mortar retailer with the Internet to enable cross-sell capabilities with consistent brand imaging across all channels.

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ICBC PROFITS

ICBC (Asia) says it expects to make a profit within the next two years. Managing director Chris Chan told the Hong Kong Economic Times that the bank will work with parent Industrial and Commercial Bank of China to set up a joint venture for credit card business expansion. Chan also said ICBC (Asia) is expected to invest additional 30 mln hkd in the credit card business.

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VISA ELECTRON

Euronet Worldwide announced the implementation of outsourcing services for Bank Wspolpracy Regionalnej (BWR) in Krakow S.A., a member of the Deutsche Bank group in Poland.

Under the terms of the multiyear agreement, Euronet will manage the daily issuance of VISA Electron cards, authorize and process debit transactions, and provide the bank a gateway to the VISA network. The bank will monitor daily transactions on the network through a remote terminal access system developed by Euronet, enabling the bank to provide real-time information to cardholders whose inquiries come into the bank’s call center.

“Euronet helped us to achieve our objectives of capital investment cost reduction and quick implementation of a solution which was vital to our bank’s service strategy,” said Dr. Friedhelm Herb, Bank Wspolpracy Regionalnej S.A. CEO. “In addition to avoiding the expenditure for software application and hardware, we avoided the necessity of spending on internal infrastructure. Our product offering is focused on both individual and corporate clients. After implementation of these new card products, our offering will be among the most comprehensive on the banking market in Poland.”

“Euronet is very pleased to increase our outsourcing options with BWR/Deutsche Bank Poland,” said Michael Brown, Euronet Worldwide Chairman and CEO. “We have been providing comprehensive ATM outsourcing to BWR for quite some time. With the addition of the debit card program, BWR can now offer additional retail services to its clients, which in turn will drive more transactions across our network. We enjoy helping progressive financial institutions like BWR become leaders in their markets.”

About Euronet Worldwide

Euronet Worldwide is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. These solutions enable their customers to access personal financial information and perform secure financial transactions — any time, any place. The company has processing centers located in the United States, Europe and Asia, and owns and operates the largest independent ATM network in Europe. Euronet was recently ranked number two on the Deloitte & Touche Technical Fast 500, a ranking of the fastest-growing technology companies in North America. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary, Euronet serves more than 200 clients in 60 countries. Visit our web site at www.euronetworldwide.com.

About Bank Wspolpracy Regionalnej S.A.

Bank Wspolpracy Regionalnej S.A. is a bank specializing in services to small and medium-size companies and individual clients. Bank Wspolpracy Regionalnej S.A. has 32 branches located mostly in the Southern part of Poland and employs approximately 800 people. The bank is a part of the Deutsche Bank group, and in the near future will be incorporated into the pan European structures of Deutsche 24.

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EQUIFAX ACQUISITION

Equifax Inc. announced
it has acquired Clearing de Informes (CDI), Uruguay’s leading provider of
consumer credit information to businesses. CDI, a subsidiary of Argencard
S.A. in Argentina, is headquartered in Montevideo, Uruguay, with annual
revenues of approximately US$5 million and 73 employees.

“This transaction reinforces our global strategy of geographic growth in
regions with good economies where strong financial and credit systems exist,”
said Bill Catucci, executive vice president and group executive for the
Americas. “Equifax brings state-of-the-art technology to the market to
provide quality products and services to our international and local
customers.”

With the addition of Uruguay, Equifax now conducts business in six Latin
American countries, including Argentina, Brazil, Chile, Peru and El Salvador.

Equifax enables and secures global commerce through its information
management, consumer credit, marketing services, business information,
authentication and e-commerce businesses. As the leader in information
services, Equifax adds value wherever customers do business, including the
financial services, retail, telecommunications/utilities, information
technology, brokerage, insurance and business lending industries and
government. Equifax also enlightens, enables and empowers consumers to manage
and protect their financial health with services offered at http//www.equifax.com .
The company ranked in the top five in return on equity among Business Week’s
Best Performers for 2001. Equifax employs 12,000 in 18 countries, has sales
in 50 countries and has $2 billion in revenue.

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CELL BANKING

Starting next fall, members of the Desjardins caisses will be able to use wireless technology to check their account balances, make bill payments, funds transfers and line of credit payments from their cellular phones at any place and time. With this new
initiative, it will even be possible for members to view the most recent
transactions on their accounts and see other financial information, such as a
display of current interest rates.

The Mouvement des caisses Desjardins and its partner, Wysdom Inc., a
leader in wireless technologies, made this announcement today during a seminar
entitled “Tendances, impacts et defis de l’Internet sans fil” (Mobile
Internet’s Trends, Impacts and Challenges) presented in Montreal by the
Institut international des telecommunications (the International
Telecommunications Institute).

Earlier this year Bell Canada, one of Desjardins’ long-time partners,
signed a strategic alliance in the area of telecommunications through which
Bell Mobility subscribers will become the first ones to use the new
technology.

“The wireless technology to be implemented by Desjardins is one of the
best to handle financial transactions,” said Mr. Eric Lemieux, Vice-President
Electronic Access and Payments at Desjardins. “Wysdom’s technology, along
with its vast experience in the field of wireless financial services, will
enable us to provide optimal service to our members,” he added.

“Through this ground-breaking innovation, Desjardins will occupy the
leading position in the field of wireless financial transactions in Quebec,”
said Mr. Kashif Hassan, co-founder and Chief Executive Officer at Wysdom Inc.
“With Wysdom’s technology, Desjardins is offering its members higher
efficiency and a more competitive advantages for their financial
transactions,” he added.

Wysdom is a wireless software and infrastructure company that enables its
customers to offer comprehensive, user-centric mobile products and services.
Wysdom licenses its Mobyle Application Platform(TM) (MAP) to enterprises,
e-businesses and carriers allowing them to deploy applications that empower
users to manage information, commerce and communications on any device.
Wysdom has operations in Montreal, Toronto, Boston, San Jose, and Belgium,
employing more than 200 people worldwide. For more information, please visit
http//www.wysdom.com.

With total assets of $80 billion and more than 36,000 employees, the
Mouvement des caisses Desjardins is the top financial institution and the
largest private employer in Quebec. It is the only one to offer, through its
network of caisses located throughout Quebec, a complete range of financial
products and services. Desjardins is a Quebec leader in terms of e-commerce.
With more than 1,500,000 visits per month, http//www.desjardins.com is the
most highly frequented financial site in Quebec and second in Canada. The
Mouvement Desjardins’ mission is to contribute to the economic and social well
being of individuals and communities.

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DoD Smart Cards

Oberthur Card Systems and Litton PRC have been awarded a contract to supply an additional 600,000 ‘Common Access’ ID smart cards to the Department of Defense. The chips on the new cards store digital certificates and digital signatures for authorized personnel who may do paperless contracting and require secure access to buildings and networks. Because the smart cards use a Java-technology based open platform, additional programs and applications can be added in the future to meet the stringent requirements of the DoD.

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