IFS International, Inc.announced that following the
acquisition of TSB Bank Ireland by the Irish Life and Permanent Group plc
(IL&P) in Ireland, TPII has been selected to manage the entire network of
Automated Teller Machines (ATM) for the new group. As a result of the
acquisition IL&P are to create a new banking entity branded as Permanent TSB.
TPII was originally installed at TSB Ireland in 1994 and will continue to
run and manage the network of ATMs for the Permanent TSB network. The
existing Irish Permanent ATMs are now being migrated from the current
outsourced processing center solution to TPII.

IL&P carried out a thorough evaluation of the existing TPII system, based
on the technical architecture of the product, its performance, the cost of
ownership and potential to meet future requirements. As a result of this
evaluation, IL&P has confirmed that the existing TPII system will be expanded
to accommodate the requirements of the newly enlarged bank.

Alistair Clarke, Regional Director, EMEA, said, “IFS is delighted that
TPII has been chosen by the IL&P Group as the long-term solution for
transaction processing. IFS is looking forward to working and cooperating
with IL&P Group as this forward-thinking organization works toward its
ambitious goals.”

Maurice O’Connor, Head of IT at TSB Bank, commented, “We are pleased to
continue our relationship with IFS International, Inc. We have found TPII to
be a resilient product ideally suited to support the expanding ATM network of
Permanent TSB.”

In additional unrelated news, in a press release dated June 6, 2001, the
Company indicated that the outstanding convertible notes, originally issued
over 12 months ago, had been reduced to $118,000. The Company is now pleased
to inform shareholders that the outstanding balance of these convertible
notes, with an original value of over $1,000,000, has been converted and is no
longer outstanding.

About IFS International Holdings, Inc.

IFS International, Inc. and Network Controls International, Inc. are
subsidiaries of IFS International Holdings, Inc., which has headquarters in
the USA and subsidiary offices in the USA, UK and Australia.
IFS International, Inc. develops, markets and supports software products
for the electronic financial market. IFS International’s TPII and TP-CMS
products provide support for ATMs, Point of Sale devices, network switches,
smart cards and card management. IFS International’s subsidiary, Global
Insight Group, is a supplier of strategic business and technical
implementation support services to the Retail Finance Industry.

NCI, Inc. develops innovative retail delivery applications like NCI
Business Centre(TM) which combines network centric and browser-based
technologies in “One Application” to automate all delivery channels such as
branch teller, platform service, call center, Internet banking and customer
relationship management.


PULSE Returns

The unprecedented shutdown of an ATM network caused by massive flooding in the Houston area is nearly over. PULSE EFT reported yesterday that its primary link between more than 60 million cardholders and 2,700 financial institutions across 22 states has been restored. Operations resumed at the company’s Houston headquarters around midnight Monday after utilizing a secondary processing site in Dallas until power was restored and the computer systems were tested at its primary data center. PULSE’s data center in downtown Houston lost both its primary power source and the use of its emergency backup system early Saturday morning due to the flooding. PULSE says it was the most serious interruption in the network’s 20-year history, which is comprised of more than 76,500 ATMs and more than 300,000 POS terminals.



ID Data plc wins ISO9001 and GSM Association and ETSI membership.
ID Data plc, the UK’s largest supplier of secure transaction
systems and smart card services, has gained full membership of both the
European Telecommunications Standards Institute and the GSM Association
following ISO9001 approval for all its sites by Lloyd’s Register Quality
Assurance. The Company’s admission to these two bodies is in line with ID
Data’s strategy to focus on higher margin business in the telecommunications

ETSI, based in Sophia Antipolis, the silicon valley of the South of France, has
889 members from 54 countries and has aided the definition of harmonized
technical standards for telecommunication products and services.

ID Data joins 500 other organizations in the GSMA, the leading body in the
wireless industry. The GSMA, working in close co-operation with government and
industry, has been instrumental in the development of GSM from the
association’s foundation in 1987.

The ISO9001 is a code of practice used as a common reference standard for
inter-company trading, sub-contracting and the procurement of services or
products. There is one approval and certificate across the whole of the ID Data
Group and the scope is now defined as ‘providers of secure transaction systems
and support services for retail, banking and telephony using magnetic and smart
card technology on a global basis.’

Peter Cox, CEO of ID Data commented; “ID Data is pleased to be admitted to both
ETSI and the GSM Association, which indicates the expanding position of the
company on the global stage. These memberships come on top of having completed
this new ISO 9001 standard, which is better for ID Data, as it is easier to
use, with less focus on bureaucracy and more on management involvement, and
continuous improvement.”


Magnet Conference

Magnet Communications, Inc. , the Internet Business Banking Authority, will host executives from 25 leading banks including SunTrust Banks, Inc. and First Citizens BancShares to discuss the future of Internet business banking and innovative technologies at the Grand Hyatt Hotel in Atlanta, beginning today, June 12 through Thursday, June 14.

Joining banking leaders will be Ray Graber, a senior analyst with TowerGroup, a research and advisory firm for the financial services industry, who will discuss the needs and trends in business banking. According to TowerGroup , the number of US banks offering Internet-based services will double over the next two years, and close to 90 percent of institutions polled regarded Internet banking as “essential” to their businesses.

To meet the growing demand for Internet business banking services, the Second Annual User Conference will help Magnet determine what services bank executives need to provide their customers to maintain their competitive edge. Magnet will also survey these executives to discover the feedback that banks receive from their business customers regarding services that are most important to them. Magnet will use the responses to continue developing products that will best address business banking needs. Following the conference, an overview of the findings will be available.

“The conference will be a forum for our customers to discuss technology and service innovations that are re-shaping the banking industry,” said Dan Myers, Magnet’s chief quality officer who founded the company in Atlanta six years ago. “This conference enables us to examine the different issues facing banks of all sizes, and help determine how Magnet’s products can best meet their needs.”

The two-day conference will offer product focus groups covering topics such as infrastructure, electronic funds transfer, payments and reporting, and Automated Clearing House (ACH), as well as sessions led by Magnet’s strategic partners in wireless services and Web-enabled billing and payment. First Citizen Bank will also head a customer panel and present a case study detailing their successful adoption of Internet business banking and their innovative marketing approaches.

“We view the User Conference as an excellent forum for discussing the next evolution of business banking,” said Rendall Howell, vice president of eCommerce and Business Online Banking product manager of Raleigh, North Carolina-based First Citizens Bank. “This is a great opportunity to bring industry leaders together to discuss ways to enhance products and services, and make banking more convenient to meet the growing needs of businesses.”

About Magnet Communications

Magnet Communications, Inc., the Internet Business Banking Authority, was founded in 1995 and is a leading provider of business-centric Internet banking infrastructure to banks of all sizes. Magnet’s Internet Banking Suite is one of the most comprehensive Web-based business banking solutions in the market today and allows financial institutions to serve business customers of all sizes. The suite offers more than 15 cash management and business banking applications, including digital signatures, image-based lockbox delivery, and foreign exchange. Magnet’s iPortBiz, a bank-branded hosted services portal, combines digitally secure cash management services with essential business services, including business-to-business bill payment, bill presentment, and tax filing, as well as integration with business financial management packages such as QuickBooks® and wireless channels. For more information regarding Magnet Communications or its products and services, please call 404-892-9300, visit [www.magnetbanking.com][1] or email sales@magnetbanking.com

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



Baltimore Technologies, a global leader in e-security, announced that Bankenes BetalingsSentral, the clearinghouse and payment service provider for the Norwegian banking industry, has chosen Baltimore SelectAccess to allow secure and authenticated Web-based file transfer. This announcement follows the latest release this week of Baltimore SelectAccess v3, with significant enhancements to its personalization, security and audit control features.

Based in Oslo, Norway, BBS has over 800 employees and is the market leader in payment services, with almost 100 percent market share in giro and 68 percent market share in card services. The company also runs Norway’s national Electronic Funds Transfer point-of-sale system, with 60,000 terminals nationwide.

Baltimore SelectAccess enables BBS to closely manage which online transactions each customer is authorized to conduct while ensuring that customers can only access their own account information. In addition, BBS is using Baltimore UniCERT, an award-winning Public Key Infrastructure (PKI) system, to issue digital certificates to authenticate users for online communication and transactions. The combination of SelectAccess and UniCERT enables BBS to address the security needs of e-business, namely strong authentication of users with fine-grained authorization management.

According to Ms. Wenke Skjerve, Head of IT Security at BBS, “Baltimore SelectAccess not only meets our requirements for fine-grained access, but also provides the flexibility and ease of use that will help us bring this new offering to market quickly. SelectAccess, combined with UniCERT, means that we know who we are conducting business with while ensuring that only authorized people can transact business online. In addition, SelectAccess allows us to take our service to a new level by providing customers with personalized information.”

“Every organization needs to put in place policy-based mechanisms to securely leverage online assets as they open up their networks for e-business. Secure extranet management reduces administrative costs internally while improving the customer experience through personalized services,” commented Seamus Gill, Business Development Manager for SelectAccess at Baltimore Technologies. “Using Baltimore’s e-security technology, BBS can now offer new personalized online services with the confidence that only authorized and authenticated users can access private and confidential information.”

The combination of SelectAccess and UniCERT offers unparalleled ease of management, featuring intuitive drag-and-drop interfaces. Both solutions are also flexible, policy-driven and are based on open standards. In addition to digital certificates, SelectAccess supports multiple authentication methods, such as PINs and passwords, to meet the diverse needs of the market.

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 authorization solutions, content security (MIMEsweeper) products, wireless e-security solutions, cryptographic tool kits, security applications and hardware cryptographic devices. Baltimore’s global professional services organization 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).

For further information and press releases on Baltimore Technologies, please visit www.baltimore.com.

About BBS

BBS – The Norwegian Banks Payment Services Company – is the market leading provider of payment services to the Norwegian banks. BBS’ mission is to enable banks, companies and private individuals to make and receive payments efficiently and securely. BBS is owned by the Norwegian banks. The company’s operations are divided into four product lines Card services, Giro services, Interbank services and Trusted services. BBS is presently involved in major projects aimed at developing and launching leading-edge solutions for payments and information processing through the Internet, and to establish market-leading trusted services for e-business based on digital certificates and technology from Baltimore Technologies.


Debt Restructuring

Hypercom announced this morning it has entered into a series of financial transactions to increase its liquidity and position itself to complete its debt restructuring. Among today’s developments, a $15 million loan agreement from a bridge investor; loans totaling $3.4 million from a local investor group; and a $1 million loan from the company’s chairman of the board. The proceeds from these new loans will be used to meet the increasing demand for the company’s new epic family of products and to reduce the principal balance under its credit facility by $8.0 million, which includes $500,000 from the company’s cash flow from operations. The company also secured an extension to its Forbearance Agreement with its principal lending group through July 31, 2001.



Europe’s leading payments association – has launched a
unique prepaid debit card using Maestro® – the world’s leading debit brand.
Today, over six hundred delegates received these cards at the Europay fifth
Members’ Meeting in Munich, Germany. Branded with the HypoVereinsbank logo,
each card is preloaded with €10, which can be spent at the Europay stand or at
any of the five million Maestro outlets worldwide.

This unrivalled card offers Europay issuing banks a no-risk, flexible programme
that presents attractive market opportunities. Banks can now target consumers
who do not have a bank account and can offer many types of cards including gift
cards, payroll cards or shopping cards. In addition, there are many co-branding
and promotion opportunities available.

Like other Maestro cards on the market, these prepaid cards are accepted
globally at ATMs or retailers, wherever the Maestro and/or Cirrus decals
appear. Transactions are authorized on-line using PIN or signature, which means
that cardholders and issuing banks benefit from the same high level of security
as offered by traditional Maestro debit cards. Because the money stays in a
pool of funds with the issuing bank, banks remain in control of the card.
Acceptance at retailers can be restricted to hotels, restaurants and travel,
which means that Maestro prepaid cards can also be used as corporate travel &
entertainment cards. Moreover, they are ideal for holidaymakers who do not want
to overspend when away. Airlines, insurance companies, travel agencies and
retail chains also have something to gain from this programme as it presents
new co-branding options.

In the coming months, BBVA – Banco de Bilbao Vizcaya Argentaria (Spain) will
begin to issue these prepaid cards. Other leading banks are also in the process
of signing up for this programme.

MasterCard International, Europay’s strategic partner, has developed a new
processing platform for banks to use for this new programme. Any bank that is
licensed to issue Maestro can issue the Maestro prepaid debit card with a short
lead-time, once they enrol in the programme.

“Our Member banks now have the chance to enter new market segments, as this
innovative programme offers maximum flexibility to target specific markets,”
commented John Bushby, Marketing Director at Europay International. “It also
creates more business opportunities within a greater number of specific
customer areas,” he added.


Chase Comm Card Head

J.P. Morgan Chase & Co. announced Monday that Gene Ryzewicz will assume the management of the JPMorgan Chase Commercial Card Group. In this role, Gene will continue to enhance JPMorgan Chase’s position in one of the fastest growing segments of the payment systems industry.

Ryzewicz has most recently served as the Business Executive for the International Consumer Business at Chase. In addition, he has held senior marketing positions over a span of 15 years at Chase, Chemical and Citibank. At Citibank, he started the Commercial Card business and ran Diners Club Corporate Card business.

“To compete in this high-growth industry, we are emphasizing the importance of providing our premier client base with innovative products, best-in-class technology and unsurpassed customer service, as well as robust e-procurement solutions for their business-to-business purchases,” said Richard Srednicki, Chase Executive Vice President in charge of its credit card business. “We will leverage Gene Ryzewicz’s leadership skills and broad range of experience in the credit card industry to proactively serve the needs of our commercial card customers and continue to build momentum for the business.”

The JPMorgan Chase Commercial Card Group offers customized MasterCard and Visa Purchasing Card, Corporate T&E and Fleet Card, and integrated functionality One Card programs. The commercial card offerings are issued by Chase Manhattan Bank USA, N.A. Chase’s credit card portfolio has more than 20 million accounts and over $37 billion in outstandings. Chase is the fourth largest bank card issuer in the United States, and its joint venture with First Data Corporation makes it the largest merchant processor in the U.S.

J.P. Morgan Chase & Co. (NYSE: JPM, www.jpmorganchase.com) is a premier global financial services firm with assets in excess of $714 billion and operations in more than 50 countries. The firm is a leader in investment banking, asset management, private equity, custody and cash management services, retail and middle market financial services and e-finance. Headquartered in New York, JPMorgan Chase serves over 30 million consumer customers and the world’s most prominent corporate, institutional, and government clients.


FUSA Counsel

Bank One Corporation named Lynn A. Goldstein, 52, senior vice president and deputy general counsel with responsibility for the company’s First USA credit card unit. She will report directly to Bank One’s Chief Legal Officer Christine A. Edwards.

“Lynn has demonstrated time and time again that the Bank’s most significant legal issues are in good hands in her care,” Edwards said. “First USA will benefit greatly from her talent and experience.”

Goldstein has headed the Litigation Practice Group at Bank One and predecessors since 1988. Before joining the bank in 1983, she was an associate at the Chicago law firm of Sonnenschein Carlin Nath & Rosenthal and clerked for Joel M. Flaum, now chief judge of the U.S. Court of Appeals for the Seventh Circuit.

“I’m delighted to welcome Lynn to our senior management team here at First USA,” said Philip Heasley, chairman and chief executive officer of First USA. “She already knows our organization and will help our efforts to build First USA into the nation’s premier payment systems company.”

“I look forward to working directly with First USA’s ambitious and talented management team, and to further improving its excellent legal staff,” Goldstein said.

Goldstein earned her law degree with Highest Honors from the Chicago Kent College of Law in 1978 and a bachelor’s degree from the University of Iowa in 1970.

Bank One (NYSE: ONE) is the nation’s fifth-largest bank holding company, with assets of more than $270 billion. Bank One offers a full range of financial services to commercial and business customers and consumers. It can be found on the Internet at [www.bankone.com][1] .

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


SA Cash

The University of Hartford in Connecticut has chosen Student Advantage’s ‘SA Cash Program’ to launch a stored-value program. Hartford joins Dartmouth, NYU, Quinnipiac University, American University, Marquette University, West Texas A & M, and Washington St. University in offering the cash-less porgram. More than 6,800 undergraduate and graduate students at Hartford will be enrolled in the ‘SA Cash Program’ for the fall semester. ‘SA Cash’ is a feature of the stored-value account already on the university ID. ‘SA Cash’ enables students, faculty and staff to purchase services and specialty foods, and pay for entertainment at off-campus merchants. Students use their university IDs to make purchases on-campus from vending machines, dining halls, the bookstore and to do laundry, among other on-campus applications. Three other universities will join the program in the fall including Johns Hopkins University, Eastern Michigan University and the University of Wisconsin at Stevens Point.


NPC Signs Lone Star

National Processing Company announced this morning the signing of a multi-year processing agreement with Lone Star Steakhouse & Saloon, Inc. Under the terms of the agreement, NPC will provide merchant processing solutions for all Lone Star restaurants’ VISA and MasterCard transactions.

Lone Star Steakhouse & Saloon, Inc. is a unique category of restaurants that feature a limited menu, concentrating on high quality USDA choice-grade steaks, and embrace a Texas-style concept that is popular among the 25 to 54 age group. NPC will provide Lone Star front-end authorization and settlement services, as well as years of experience processing credit card transactions for the Travel & Entertainment industry.

“NPC is delighted to be processing credit cards for the Lone Star family of steakhouses,” said Drew Soinski, senior vice president of Travel & Entertainment Services for NPC. “Lone Star has carved a niche in the high- growth restaurant industry where NPC has recently made substantial investments in providing industry-specific processing solutions. This partnership equates to a win-win for everyone involved.”

“Lone Star’s success formula is similar to NPC’s — excellence in operations and quality of products and service,” said Mark Pyke, executive vice president of Merchant Services for NPC. “NPC offers one of the best values in the industry for total cost of card acceptance. Lone Star is poised for significant growth, and we are excited regarding the possibilities our processing solutions can offer.”

“We are excited about partnering with NPC,” said Randy Pierce, chief financial officer of Lone Star Steakhouse & Saloon, Inc. “NPC has remained successful by keeping itself focused on its core product — payment processing. NPC embraces our philosophy of providing superior customer service, and this relationship will enable us to continue providing our customers with superior quality in an accurate and timely manner.”

About Lone Star Steakhouse & Saloon, Inc.

Lone Star Steakhouse & Saloon is a unique category of restaurants offering high-quality service and food. Lone Star owns and operates 243 domestic and 26 international Lone Star Steakhouse & Saloon restaurants; 15 Sullivan’s Steakhouse restaurants; and five Del Frisco’s Double Eagle Steak House restaurants.

About National Processing, Inc.

National Processing, Inc. through its wholly owned operating subsidiary, National Processing Company (NPC(R)) is a leading provider of merchant credit card processing. National Processing is 87 percent owned by National City Corporation (NYSE: NCC) ( http://www.nationalcity.com ), a Cleveland based $91 billion financial holding company. NPC supports over 500,000 merchant locations, representing nearly one out of every five Visa(R) and MasterCard(R) transactions processed nationally. NPC’s card processing solutions offer superior levels of service and performance and assist merchants in lowering their total cost of card acceptance through our world-class people, technology and service. Additional information regarding National Processing can be obtained at http://www.npc.net .