IFS International, Inc. announced that its distributor, The GET Group, has
sold its first TPII
system to be a central resource based in Dubai for the UAE and GCC states.

Initially, this will be a central transaction processing switch and
settlement system with basic card generation and production facilities.
Products and services are to be offered via the switch to third parties, and
future e-commerce and m-commerce processing is planned.

This inaugural TPII implementation is a first step in a long-term GET
regional program, which is expected to result in considerable network
expansion over the next two years. Delivery and commissioning is expected
within the next six months.

Salim Abdullah, General Manager, GET Group, Dubai, said, “Since signing
the distributor agreement with IFS, we’ve had an extremely busy and productive
period, resulting in this first system in Dubai. Currently, we have a number
of proposals outstanding to provide TPII and TP-CMS systems in a number of
countries throughout the region. GET is expanding its support base for this
range of products with comprehensive training of staff to ensure banks,
financial institutions and other commercial customers will receive total end-
to-end systems and support for the IFS and complementary products that we

The GET Group of companies is also a supplier of cards, including chip
cards, card production, ATMs and POS systems working with companies such as
Data Card, Toppan, NBS, Oberthur, Nisca and Orga.

Alistair Clarke, Regional Director, EMEA, IFS International, added, “IFS
is delighted to have a new customer in Dubai and shows that the strategic
partnership between IFS and GET is already reaping rewards. Our partnership
aims to offer financial institutions exactly what is required to meet their
evolving business objectives and this new contract is an exciting start.
Looking at the number of proposals we have outstanding in the Middle East
region, we are extremely optimistic that we will soon have other new customers
to announce.”

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 U.S.A., U.K., Singapore 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.



First Data announced yesterday that its card issuing services subsidiary and San Diego-based ieWild Inc. are teaming to offer card issuers technology that provides insight into cardholder purchasing preferences with the opportunity for better retention and increased card usage. FDC has acquired the license and maintenance rights to provide ieWild’s patent-pending software solution exclusively to more than 1,400 card issuing clients worldwide under the First Data brand ‘FirstInsight’. ‘FirstInsight’ is a sophisticated data mining, analysis and reporting solution that merges merchant data with bankcard transactional data to give the card issuer better opportunities for one-to-one value offers.



Euronet Worldwide, a
leading provider of secure electronic financial transaction solutions, and
mobile operator Polkomtel S.A. have announced an
agreement that enables consumers to purchase prepaid mobile phone vouchers at
approximately 420 Euronet ATMs in Poland.

Polkomtel S.A. operates its consumer brand as Plus GSM and is one of three
GSM operators in Poland.

Plus GSM is the second largest mobile phone operator in Poland with more
than 2.5 million customers, 34% being prepaid,
and has the largest base of corporate customers.

Euronet Worldwide provides this service to all three GSM mobile operators
in Poland and to mobile operators in three other
Central European countries. This service is available on Euronet ATMs in Poland
for Plus GSM, ERA GSM, and Centertel
customers; in Hungary for Pannon GSM customers; in the Czech Republic for
EuroTel customers and in Croatia for VIPnet

With this ATM transaction option, Euronet offers added convenience to Plus
GSM customers who regularly purchase prepaid
airtime. Customers can purchase vouchers at Euronet branded ATMs throughout the
country. Available 24 hours a day, seven
days a week, this service allows customers to recharge their prepaid mobile
phone accounts. Their bank accounts are debited for
the amount of the voucher only with no additional transaction fee.

“The partnership with Plus GSM confirms the strength of our Euronet ATM
Mobile ReCharge product,” said Michael Brown,
Chairman and CEO of Euronet Worldwide. “Only three mobile phone operators exist
in Poland and we provide our ATM
ReCharge service to all of them. With the exploding growth of the mobile phone
industry, and particularly of the prepaid mobile
sector, this product provides cost savings and innovation for the GSM service

“We are very proud of our heritage in Poland. Starting in 1995, Euronet
brought electronic financial transaction convenience to
the country via our ATM network. Now through our relationship with mobile
operators in Poland, this service extends the level
of convenience we provide to mobile phone consumers.”

“By providing our customers with Euronet ATM ReCharge, Plus GSM is keeping
pace with industry trends and the demands
from our customers for a more convenient recharge option,” said Tomasz Mordel,
Plus GSM Product Specialist. “We believe
that our customers will appreciate the added convenience of being able to
recharge their phones without a transaction fee any
hour of the day at Euronet ATMs. All of our customers can reload their prepaid
accounts via an ATM by using their Visa and
MasterCard — the most popular cards in Poland.”

Since establishing a Polish subsidiary in 1995, Euronet Worldwide has
become the leading provider of secure electronic
financial transaction software and outsourcing solutions offering the most
comprehensive set of services and functionality in that
market. With a network of over 600 ATMs, four bank software customers and
providing our ATM ReCharge to all three mobile
operators in the market, Euronet becomes one of the largest transaction
processing service providers in the country.

As a global provider of secure financial transactions, Euronet continues to
expand its geographic and marketplace presence
throughout Europe, the Middle East, Africa, the Americas and Asia/Pacific. This
expansion allows our customers the ability to
provide their consumers a wide array of additional transaction touchpoints and
provides Euronet continued transaction volume

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, including
owning and operating 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 Polkomtel S.A.

Polkomtel S.A. was established in 1995. The shareholders are six Polish
companies, which represents 60.78% of share
capital and two foreign companies with share capital of 39.22%. Polkomtel
shareholders include Polski Koncern Naftowy
ORLEN SA, KGHM Polska Miedz SA, Vodafone Americas Asia Inc., Tele Danmark A/S,
Polskie Sieci Elektroenergetyczne
SA, Weglokoks SA, Tel-Energo SA and TelBank SA. During December 2000, over
111,000 new prepaid customers joined
Plus GSM. During 2000, Plus GSM was the first to provide WAP (Wireless Access
Protocol), GPRS (General Packet Radio
Service) and electronic customer service. In addition, 178 million SMS (Short
Messaging Service) were sent during 2000. Visit
the Plus GSM web site at www.plusgsm.pl.


DotComCash Phone Card

Saratoga International Holdings Corp., announced that its wholly-owned subsidiary, Saratoga Telecom which is headquartered in Hallandale Fla., has reached an agreement to become a master distributor for DotComCash, Inc. of Marietta, Ga.

Under the terms of the agreement, Saratoga will integrate the DotComCash ATM product into its prepaid telecommunications calling card product, creating a unique new traveling “all-in-one” service. The card will allow holders to send money economically, including internationally, make global long distance telephone calls at economical rates, make purchases both in person and over the Internet and manage personal finances from anywhere around the world.

“Increased mobility in our society has made it difficult for international travelers, business people and transportation employees to manage and organize their financial affairs,” said Michael Smith, president of DotComCash. “By combining our fully featured ATM product with the telecommunications services and distribution channels of Saratoga, we create a product that offers great financial mobility and flexibility for those who travel a great deal.”

The product will be rolled out initially into transportation sector markets, currently serviced by Saratoga, and will be expanded to other similar vertical markets. The integrated card will be offered in a 2 part package, allowing the traveler to share finances with family members located anywhere in the world. The card will also serve as a calling card for making calls around the world free of subscription fees, maintenance fees, access charges or surcharges. The cards will also offer access to enhanced VoIP services, like voice messaging, internet access and internet faxing, in contrast to calling card only products such as those offered by AT&T, MCI WorldCom, Sprint and other traditional carriers.

“This capability brings economy, flexibility and ease of use to travelers and transportation workers around the world, who would otherwise not be able to enjoy these benefits,” said Mario Lavadinho, sales vice president of Saratoga Telecom. “Traditional prepaid cards have so many conditions that it takes a lawyer to interpret all of them. We offer fast, economical and clear communications without a long list of terms. Added to that is the ability to send money back home, make purchases and arrange your personal finances in any part of the world.”

Questions about the product can be referred to Mario Lavadinho, Saratoga Telecom, at 954/455-7724.

About DotComCash

DotComCash, Inc. is the pioneer electronic cash solution provider featuring multiple-use stored value branded cards: DotComCash Card(TM), CashPreferred(TM) and Cash Ole(TM). DotComCash products have widespread applications but specifically target under-serviced markets, such as non-banked money transfer, teen markets and the college student market. DotComCash products are also attractive to consumers and retailers who can complement them with other incentive or loyalty programs. DotComCash products also offer enterprises solutions to money transfer for payroll, corporate travel and expense reimbursement. To learn more about this company, please visit their web site at [www.DotComCash.com][1].

About Saratoga International Holdings Corp.

Saratoga International Holdings Corp. is a publicly traded company, stock symbol SHCC:OB. Saratoga’s operating subsidiaries include Saratoga Telecom and SOLVOX Consulting Group, among others. Saratoga is a development stage company, focused on emerging telecom markets.

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



MediKredit Integrated
Healthcare Solutions (Pty) Ltd and OTI Africa announced a Pilot Project
for the introduction of OTI Africa’s Medical Management Application utilising
OTI’s EYECON dual interface (contact and contactless) smart card platform.
The pilot will be implemented in two phases commencing Q2, 2001, with
phase one involving pharmacies, followed by general practitioner (GP)
practices in phase two, anticipated in the third quarter.

MediKredit Integrated Healthcare Solutions (Pty) Ltd, a technology and
management company has a proven track record of 30 years in the pharmaceutical
industry and over 8 years business-to-business e-commerce experience. Through
its HealthNet Superior Technology, (HealthNet ST) it offers, speed, accuracy
and reliability via on-line real time claims processing of prescriptions in
Pharmacies and Dispensing GP practices. MediKredit currently manages in excess
of 3.4 million lives privately insured lives in South Africa. Used by over 95%
of pharmacies, it processes more than 60,000 on-line real-time transactions
per day. Contracted administrators include; Newmed, Sanlam Health, Bestmed,
Liberty Healthcare, Discovery Health, Old Mutual Health, CAMAF, Protector
Health, Multimed Administrators and Sovereign Health.

The MediKredit product differs from other competitor healthcare data
carriers in that it processes claims on a real-time basis. Claims are checked
and processed immediately by MediKredit utilising continuous availability
technology, the Stratus, whilst corrections are communicated back to the point
of service in seconds. Other on-line advantages for funders include MMAP
adjudication, price checking, upfront rejections, assured claim processing for
certain schemes, consistent application of scheme rules, data integrity and
pricing validation as per agreements between medical schemes and providers.
On provider level advantages include the reduction of payment turnaround,
claim logging and recording of claim submission dates and the reduction of
paperwork which results in reduced risk and improved cash flow.

“The decision to utilise the OTI technology was taken after a review of
available smart card platforms. The complex cryptography that the OTI
solution utilises satisfies the security requirements for Healthcare cards,”
says Ms. Wimpie du Plessis, CEO of MediKredit.

OTI’s EYECON technology is a microprocessor-based solution, which provides
customers with a multi-application platform with a full operating system on
board. OTI is the only company that can offer a field-tested combination card
where contact and contactless features use the same microprocessor and share
the same operating system. Regardless of whether the communication is contact
or contactless, the same microprocessor is activated, preserving data
integrity and security. The ability to alter the functionality of the card
through remote software updates enhances the flexibility of the card as an
e-commerce or mobile computing platform.

“In introducing the OTI Medical Management application the patient will be
authenticated by way of an off-line verification of the biometric information
stored on the card against the relevant biometric information of the holder of
the card. Moreover, the benefits to which the patient is entitled will be
verified without the need to go on-line. The implementation of smart card
technology will ensure that risks are reduced in a cost effective manner at
service provider level,” said Dr. Henry Muller, the Marketing Manager for OTI
Africa’s medical management application.

“This Agreement with MediKredit signifies a major breakthrough for OTI
Africa in the medical sector. We are confident that the EYECON technology
will deliver the business objectives and will place OTI Africa firmly on the
map not only as a provider of leading edge technology, but as a solution

provider. OTI Africa is in the process of developing business models which
will serve to illustrate the benefits of utilising a multi-application
platform through the introduction of marketing alliances between key players
in vertical markets,” said Charlotte Hambly-Nuss, Managing Director of OTI

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 product
solutions for mass transit, parking, gas management systems, loyalty schemes,
ID 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 http//www.oti.co.il.
OTI Africa, a subsidiary of OTI Limited, is responsible for the
distribution, installation and maintenance of OTI’s products and technology in
the African market. Users of the OTI technology have access to an experienced
and professional management team who lead and guide dedicated functions in
sales, marketing, installation, technical, development and support services.


Fraud Suite

iShopSecure Inc., a leader in e-commerce transaction security products, and Equifax Secure, the e-commerce solutions division of Equifax Inc.announced a partnership which offers online merchants and credit card issuers a complete suite of anti-fraud products.

This agreement will allow iShopSecure to create an environment for merchants that will enable them to readily utilize a payer authentication service without incurring installation costs or major implementation fees. Merchants who sign up for this authentication technology through iShopSecure can now receive a turnkey solution and obtain anti-fraud applications and services at a substantially discounted rate.

“We see this partnership as a major breakthrough in anti-fraud e-commerce platforms,” said Joseph A. McDonnell, chairman and CEO of iShopSecure. “Working with a major online security solutions provider like Equifax Secure allows us to deliver this new authentication technology to online merchants efficiently and effectively to help them eliminate consumer-related online fraud.”

This announcement also includes the launch of a new, innovative verification product – Transact-Secure(TM), a real-time payer authentication solution – which is scheduled for release to online merchants on March 1, 2001.

Equifax Secure’s authentication products involved in this reseller’s agreement include a wide range of digital certificates that protect access to Web-based applications, ensure secure online transactions, verify user identities and more.

According to a Gartner Group survey, fraud in the online world is more than 10 times more prevalent than in the off-line world. Online merchants who are interested in learning more about authentication products made available through this reseller’s agreement should call iShopSecure customer service at 888-533-5300 or visit [www.ishopsecure.com][1].

About iShopSecure

Headquartered in Davie, Fla., iShopSecure Inc., specializes in providing comprehensive, fraud preventive, real-time transaction technology solutions to safeguard credit cards issuers, consumers and e-tailers from online credit card fraud and privacy issues – the biggest barriers to the growth of e-commerce. Its technology prevents the fraudulent and unauthorized use of consumers’ credit cards and personal information, thus promoting consumer confidence and online spending. With its patent-pending technology, iShopSecure is dedicated to providing a safe, fraud-free, and secure shopping environment on the Internet.

About Equifax Secure

Equifax Secure, the e-commerce division of Equifax Inc, provides security, privacy and transaction management solutions that protect consumers and enterprises from the risk of identity theft and fraudulent transactions. Equifax Secure authenticates online consumer identity, secures business applications and manages digital certificates and directories for highly secure, private e-commerce over the Internet and other networks.

About Equifax

Equifax ([www.equifax.com][2]), a worldwide leader in enabling and securing global commerce, brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. Atlanta-based Equifax (NYSE:EFX) serves the financial services, retail, credit card, transportation, telecommunications/utilities, information technology and healthcare industries, as well as government. Equifax adds knowledge, expertise, convenience and security to provide value-added solutions and processes for its customers wherever they do business, including the Internet and other networks. Equifax employs about 12,000 associates in 17 countries with sales in almost 50 states and has $2 billion in revenue.

[1]: http://www.ishopsecure.com/
[2]: http://www.equifax.com/



Gemplus and IBM announced a services and
technology agreement to collaborate on providing smart card solutions to
customers of both companies worldwide.

As part of the agreement, Gemplus will combine their strength in card
personalization, issuance and logistics, with IBM’s
systems integration capabilities and Chip Management System solution to offer
robust, leading edge, smart card solutions across
every industry sector.

“The IBM and Gemplus agreement will provide customers with integrated, end
to end solutions that support their business
needs. This cooperation significantly enhances our capability to deliver smart
card solutions by drawing upon our respective
capabilities. Customers and business partners will have increased access to a
combination of multifunction smart cards, their
applications and lifecycle management,” said John Kirby, vice president,
Global, Mobile e-business Services.

“Using the strengths of both our companies, IBM and Gemplus will capitalize
upon this agreement to deliver best of breed
solutions to fit our customers needs,” said Gilles Michel, Executive VP
Financial Services Gemplus. “Smart Card lifecycle
management and integration services are crucial for a successful smart card
implementation. This agreement will allow for
one-stop shopping and an integrated approach.”

A major part of the companies’ agreement will focus on the deployment of a
Smart Card Life Cycle Management Application.
Through using IBM’s Chip Management System solution (CMS-e), subscribers will
be able to update authorized data elements
and add or delete entire applications directly onto the smart card. It will
also allow issuers to control, monitor, update, or delete
card applications such as the addition of new Public and Private Keys and
payment or loyalty applications. Coupling the CMS-e
system with the manufacturing, personalization, issuance, logistics and
customization services of Gemplus will provide smart card
customers a complete managed solution.

The IBM/Gemplus cooperation represents a significant step towards
fulfilling the benefits and value of multiple applications
being stored on a single card.

About Gemplus

Gemplus the world’s leading smart card solutions provider

Since its creation in 1988, Gemplus International S.A.(EuronextSicovam
5768 and NasdaqGEMP) has driven the global
marketing and deployment of smart card-based applications for
telecommunications, financial services and e-business security.

Gemplus is instrumental throughout the value chain — chip design, card
management systems, software development, and
consulting — delivering integrated custom-made solutions for the security,
personalization and privacy management needs of
clients and partners worldwide.

Gemplus technology has played a defining role in the development of
wireless telephony since the introduction of SIM cards
into the GSM standard in 1990. For more than a decade, Gemplus has pioneered
applications that enable network operators
around the world to answer the changing needs of their customers. Gemplus was
first to market with a 3G card and supplies a
product range compliant with new and emerging transmission standards — 2.5G,

In 2000, revenue was 1.205 BE, up 57% from the previous year’s 767ME. Net
income was 99 ME. Gemplus employs more
than 7800 people in 37 countries worldwide.
Since Dec. 11, 2000, Gemplus shares have been trading on Euronext Paris
S.A. First Market and on NASDAQ in the form
of ADSs.

About IBM

IBM is the world’s largest information technology company, with 80 years of
leadership in helping businesses innovate. IBM
offers a wide range of services, solutions, and technologies that enable
enterprises to take full advantage of the new era of
e-business. IBM has helped hundreds of companies deliver their services to
wireless devices . To extend e-business to mobile

e-business, IBM is exploiting its systems integration expertise, web hosting
experience, and e-business application capability
providing the reliability, scalability, global reach and security businesses
need to succeed.



Trintech Group plc, a leading provider of secure eCommerce payment
solutions, announced record fourth quarter and fiscal year revenues for the
period ended January 31, 2001.
Revenues for the fourth quarter ended January 31, 2001 were $15.5 million
compared with $9.0 million for the corresponding
quarter ended January 31, 2000, an increase of 72%. Revenues for the fiscal
year ended January 31, 2001 were $49.0 million
compared with $30.2 million for the corresponding fiscal year ended January 31,
2000, an increase of 62%.

The growth in revenue reflects demand for Trintech’s secure eCommerce
payment infrastructure solutions. This demand drove
fourth quarter software license revenue to $6.2 million, an increase of 80%
over fourth quarter license revenue last year of $3.5
million. License revenue for the fiscal year grew to $20.6 million, an increase
of 125% over the previous fiscal year’s license
revenue of $9.2 million. Services revenue for the fourth quarter grew 363% to
$2.6 million from $552,000 in the fourth quarter
last year while service revenue for the fiscal year grew 134% to $6.1 million
from $2.6 million in the prior fiscal year. Product
revenue in the fourth quarter grew 34% to $6.8 million compared with $5.0
million in the fourth quarter last year and grew 21%
to $22.3 million for the fiscal year over the corresponding period in the prior

Gross margin, including the cost of amortization of acquired technology of
$1.1 million, for the quarter was 39% ($6.1 million),
down from 47% ($4.2 million) in the corresponding quarter last year. Meanwhile,
gross margin, including the cost of amortization
of acquired technology, for the fiscal year ended January 31, 2001 was 46%
($22.4 million), up from 43% ($13.0 million) in the
corresponding fiscal year ended January 31, 2000.

On a proforma basis, excluding the cost of amortization of acquired
technology of $1.1 million, proforma gross margin for the
quarter was 47% ($7.3 million), compared with 47% ($4.2 million) in the
corresponding quarter last year. Meanwhile, proforma
gross margin, excluding the cost of amortization of acquired technology, for
the fiscal year ended January 31, 2001 was 48%
($23.6 million), up from 43% ($13.0 million) in the corresponding fiscal year
ended January 31, 2000.

“Our record fourth quarter and fiscal year revenues represent an important
milestone for Trintech and is encouraging to have
achieved such solid results,” says John McGuire, Chief Executive Officer. “We
are committed as a company to supplying our
customers with the most innovative and secure ePayment infrastructure solutions
to help them increase their revenues and reduce
their internal operating costs. Trintech has taken another leading step this
quarter and fiscal year as we strive towards our path to

In the fourth quarter ended January 31, 2001, Trintech continued to invest
in building a global organization and development of
innovative secure eCommerce payment infrastructure solutions. As a result,
sales and marketing expenditure grew 82% to $5.0
million, and research & development spending grew by 121% to $6.5 million over
the corresponding quarter last year.

Paul Byrne, Chief Financial Officer said “We continue to invest in research
and development, and sales and marketing to
strengthen the company’s leading position in the emerging mCommerce and
eCommerce marketplaces whilst focussing on the
path to profitability in this consolidating market.”

Basic and diluted net loss per equivalent American Depository Share (ADS)
for the quarter ended January 31, 2001 was
$(0.26) compared with the basic and diluted net loss per ADS of $(0.09) for the
corresponding quarter ended January 31,


In the quarter, the Company recorded a stock compensation charge of $1.2
million, equivalent to $0.02 per ADS, in relation
to stock options granted in 1999 at market value to the members of the
Company’s Advisory Board and to MasterCard as part
of a strategic alliance with the Company. The Company also recorded a charge of
$5.6 million for amortization of goodwill and
purchased intangible assets and a charge of $1.1 million in relation to the
amortization of technology, relating to the acquisitions of
Checkline plc, Sursoft, Exceptis Technologies and Globeset Inc. equivalent to
$0.11 per ADS.

Excluding the impact of the amortization of goodwill, purchased intangible
assets and technology and stock compensation
related charges, proforma basic and diluted net loss per ADS was ($0.12) for
the quarter ended January 31, 2001.

For the full year basic and diluted net loss per equivalent American
Depository Share (ADS) was $(0.59) compared with the
basic and diluted net loss per ADS of $(0.31) for the same period last year.
Excluding the impact of the amortization of goodwill,
purchased intangible assets and technology and stock compensation related
charges, proforma basic and diluted net loss per
ADS was ($0.35) for the full year period ended January 31, 2001.

Quarterly News

Trintech announced that National Bank of Kuwait (NBK), Kuwait’s leading
banking organization, adopted Trintech’s
payment infrastructure technology to provide an Internet acquiring solution
for the Bank’s online retailers. National Bank of
Kuwait is utilizing Trintech’s PayWare eHost to host online retailers
enabling them to accept and process credit card
transactions. These transactions are routed to PayWare eAcquirer, an
Internet Payment Gateway, residing at National Bank
of Kuwait. The bank then processes the authorization and settlement
requests from the online merchant. Trintech’s security
partner, Entrust Technologies, provides the digital certificate technology
used to secure the transactions between the
merchant and National Bank of Kuwait.

State Bank of Mauritius (SBM) is licensing products from the Trintech
PayWare suite as it plans to develop global
eCommerce capabilities and will use Trintech’s PayWare eAcquirer as its
Internet payment gateway solution and PayWare
eHost as its server based merchant payment system. SBM is a leading
commercial bank in Mauritius and has a network of
50 branches in Mauritius, including mainland Africa and in India. SBM
recently unveiled plans to establish itself as an
offshore, international eCommerce hub by providing online merchants with
multi-currency acquiring services.

This quarter we announced a security alliance with RSA incorporating
PayWare(R) and RSA BSAFE(R) SSL-C
encryption software. The combined software solution enhances security for
financial institutions operating in real and virtual
card-based transactions. Trintech will incorporate this enhanced security
technology into its PayWare(R) eAcquirer(TM)
payment gateway infrastructure solution for financial institutions, payment
processors, e-commerce service providers, and
card organizations, allowing Trintech’s customers to securely authorize,
capture, route and settle all card-based transactions
originating from both the physical and virtual worlds of commerce. PayWare
eAcquirer provides the technology
infrastructure necessary to take advantage of global-based
business-to-consumer (B2C) and business-to-business (B2B)
opportunities securely.

Trintech announces the resignation of Jim Bidzos from its Board of
Directors. Bidzos served as a Non- Executive Board
member since February 1999 and is stepping down in pursuit of other
professional endeavours. Since its founding in April
1995, Jim has served as Chairman of VeriSign, Inc., a public key
infrastructure (PKI) company, as well as serving as a

Director and Vice Chairman of RSA Security, Inc. (formerly known as
Security Dynamics Technologies, Inc.) a data
security company. His resignation from the Trintech Board of Directors
removes any potential conflict of interest with his
current executive duties given Trintech’s security alliances with Baltimore
Technologies and Entrust Technologies.

Acquisition News

— During this quarter we closed three of our acquisitions. The
acquisition of Sursoft, a privately held Latin American card
management software company was completed on November 15th.
Exceptis Technologies, a leading provider of B2B and B2C
Internet enabled payment infrastructure solutions for
automated payment card dispute resolution and fraud and risk
management for card issuers, financial transaction processors,
acquirers and merchants was completed on 20th November 2000.
We completed the acquisition of the primary assets of
Globeset, Inc., an Austin and Dallas, Texas based supplier of
secure ePayment infrastructure services and products for
buyers, sellers and financial service providers, on December
29th, 2000.

— This quarter we continued to execute our dual growth strategy
to plan. Our organic growth remains consistent and we are
currently focused on completing the integration of our four
acquisitions, Checkline, Sursoft, Exceptis, and Globeset. We
have already begun to experience many of the anticipated
synergies from the acquisitions such as increased cross
selling opportunities for new products to present and newly
acquired customers and demand for products in exciting new

— As Trintech continues to execute to plan to become the
dominant global provider of secure ePayment infrastructure for
the digital economy, we are investing and ensuring that we
educate our customers and partners while delivering on
shareholder value. With our substantial cash reserves and
comprehensive secure ePayment infrastructure solutions,
Trintech believes that it is well positioned to capture market
share in this consolidating market and lead our partners and
customers into the digital commerce economy.

About Trintech

Founded in 1987, Trintech Group PLC 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 94003 (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.



MIST Inc. reported results for the first quarter of the 2001
fiscal year.

Revenue for the quarter was $4.9 million compared to $6.5 million for the
same period in 1999. The decline was due to the
acceleration of purchases in 1999 in preparation for the Year 2000. In the
first quarter of fiscal 2000, the Company was
completing a number of certifications required to sell wireless units. Several
of the certifications were not completed until late in
the quarter, which delayed the Company’s ability to sell its wireless products
in the US.

Operating loss from continuing operations for the first quarter was
$1,800,000 compared to income of $661,000 for the same
period in the prior year. Income from discontinued operations was $928,000,
compared to a loss of $390,000 for the same
period in the prior year. Discontinued operations includes the results of the
US card facility up to November 14, 2000, the date it
was sold, the results of the Canadian card facility, which was sold in February
2001 and the results of NBS Holdings Limited.
The Company recorded a gain on the sale of the US card facility of $9.3 million
during the quarter. Net income applicable to
common shares for the quarter was $7.1 million, or $0.21 income per share on a
fully diluted basis, compared to a loss of
$124,000, or ($0.00) loss per share on a fully diluted basis for 1999.

Operating highlights include

The Company focused its efforts on completing wireless network
certifications in preparation for the introduction of two new
products FreedomGateTM and MIST Freedom III. MIST Freedom III (“FIII”) is
nearing completion and should be
available for sale in April of this year. FIII is a desktop, Internet
enabled, wireless point of sale transaction terminal with a
touch screen. FIII was designed to take full advantage of the features of
FreedomGate, our software platform for enabling
wireless transactions and eCommerce. FreedomGate should be available to
select customers during the second fiscal quarter
of this year, and more widely available in the third quarter of this fiscal
year. The Company was also successful in certifying
MIST Freedom II with several large US based transaction processors. These
certifications are essential to sell the product in
the US market.

Development of MIST FreedomSped was completed and will be available for sale
during the second quarter of the fiscal
year. FreedomSped is a secure pin entry device, or pinpad, that supports
smart card transactions. It is available for our
wired Turbo product, MIST Freedom III or may be attached to PC based cash
registers, allowing customers the
opportunity to cost effectively serve the growing smart card market.


“It is a very exciting time at MIST. Development of FreedomGate and MIST
Freedom III are nearing completion, and
customer reaction to our technology has been very positive,” stated Charles E.
Lee, President and CEO of MIST Inc. “We look
forward to bringing our customers great technology and innovation this year.
Our re-organization is nearly complete and our
energies are entirely focused on bringing our new wireless products and
services to market successfully.”

About MIST Inc.

MIST Inc. (TSE MIS), a leading global provider of wireless
transaction-enabling technologies, is in the business of designing,
manufacturing, and distributing wireless and wired Point-of-Sale (POS)
solutions, including FreedomGateTM, our wireless
enabling gateway platform. MIST’s clients include Canadian and international
banks, financial institutions, credit and debit card
processors, as well as retail, hotel, restaurant, healthcare, and loyalty
customers. The “MIST Freedom” family of wireless
transaction terminals was developed to complement its range of existing
products. MIST has business offices in Canada, and the
United States. For more information, please visit www.mistwireless.com.



Following a meeting of the VISA EU Board on February
23, Visa has committed to investing €168m to accelerate the migration to chip
cards and chip technologies in order to address concerns about escalating fraud

Under the scheme, the investment has been allocated to support a range of
initiatives targeting Visa card issuing banks, acquiring banks, retailers and
technology providers. These include

· Financial incentives to member banks for chip card issuance

· Support to vendors to increase the range of products and equipment

· Technical assistance to suppliers within the electronic point of sale (EPOS)

· The placement of terminals at large retail sites

· Targeting and supporting those retailers suffering from high levels of fraud

“We recognise there is increasing concern about fraud and anticipate the total
fraud reduction as a direct result of accelerating the move to chip will be
worth over 700 million euro. We expect over 180 million Visa and Visa Electron
cards to be carrying an EMV chip by December 2004,” said Mr Hans Van der Velde,
President, Visa EU.

“Indeed, in France, Carte Bancaire has recently announced an agreement with the
retailer community which will result in the upgrade of cards and terminals to
EMV standards. In the UK, over 8.5m chip cards have already been issued and
over 80% of payment cards are expected to be chip-based in the next two years.
Additionally, equipment suppliers are predicting that they will have phased out
the manufacturing of magnetic stripe only reading equipment within the next two
to three years,” added Mr. Van der Velde.

Chips are expected to transform existing payment cards to allow
multi-applications such as loyalty schemes and electronic banking to be added
on to the card, providing greater convenience and flexibility to cardholders.

“This investment will give a strong signal to the market that Visa and its
members are serious about eliminating payment card fraud in Europe. We are
committing this money because we believe that chip is the best way to combat
the escalation of fraud and hope that the other parties involved will follow
our lead,” said Eduardo Merigo, chairman of the Visa European Board.

As a result of the liability shift, retailers who deploy chip reading
technology stand to benefit from a shift in transaction liability through their
acquirers. Card issuers will become responsible for fraudulent transactions if
they have not implemented chip, where it can be demonstrated that chip would
have prevented the fraudulent transaction from occurring. Retailers are also
expected to benefit from the ability to utilise remote payment technologies and
to add proprietary loyalty schemes through partnerships with the banking

“This is great news for the retailing community. Chip technology not only cuts
fraud but is a key enabler in customer relationship management (CRM). As sales
gains become tougher to achieve through conventional methods, retailers will
increasingly have to rely on CRM and the related tools of tracking and reward
schemes to get more business from their customers,” said George Wallace, CEO,
Management Horizons Europe, (Retail Consultants).

– Ends –

Notes to Editors

The specific timetable for migration to chip in Europe can be summarised as

October 2001
· All acquirer systems and networks must be re-certified as capable of carrying
EMV/VISchip data in authorisation and clearing messages. This re-engineering
of the backbone infrastructure will ensure that all markets will have the
capability to place chip terminals

· Existing Visa debit/credit chip card programmes are to be converted to
as quickly as possible. All chip issuers must have developed EMV/VIS compliant
solutions and deployment of these must be underway. Special arrangements apply
to issuers implementing both EMV and the Common Electronic Purse Specifications

· All new Visa acceptance devices EMV and VIS compliant . Potential placement

EMV compliant acceptance devices at high fraud locations.
Jan 2005

· Changes to the Visa EU Regional Operating Regulations will become effective,
such that those Visa Members that have not implemented a chip infrastructure
will be liable for all fraud that could have been prevented through its use.
About EMV/VISEMV stands for Europay-MasterCard-Visa – a joint industry working
group created to facilitate the introduction of chip technology into the
international payment systems environment by developing joint specifications
for Integrated Circuit Cards (ICC) and terminals for Payment Systems. EMV’ 96
serves as the global framework for chip card and terminal manufacturers

VIS stands for Visa Integrated Circuit Card Specification. Simply put, VIS is
Visa’s customisation of the EMV specifications. It defines the specific
technical details/requirements that need to be implemented for the use of Visa
products within EMV.

About Visa International

As the “World’s Best Way to Pay,” Visa is one of the world’s leading payment
brands and the largest payment system worldwide with more volume than all other
major payment cards combined. Visa plays a pivotal role in advancing new
payment products and technologies to benefit its 21,000 member financial
institutions and their cardholders. Visa has more than 80 smart card programs
in 35 countries and on the Internet, with 23 million Visa chip cards, including
eight million Visa Cash cards. Visa is pioneering SET Secure Electronic
Transaction™ programs to enable and advance Internet commerce. There are over
one billion Visa, Visa Electron, Interlink, PLUS and Visa Cash cards, which
generate more than US$1.6 trillion in annual volume. Visa-branded cards are
accepted at over 19 million worldwide locations, including at more than 627,000
ATMs in the Visa Global ATM Network. Visa’s Internet address is http//www.visa.com.



Keycorp Ltd reported an operating loss after tax of $A14.7 million ($US7.7
million) for the year 2000. For 1999, Keycorp reported a net profit of $A7.28
million ($US3.81 million). The Company says it suffered delays in realizing
revenue last year. The delays resulted primarily from extended periods for
certification on certain contracts, delays in procurement to meet demand and
longer than expected finalization of large contracts. Smart card specialist
Keycorp says it spent $A29.9 million ($US15.67 million) on research and
development during 2000, a 45% increase over 1999.



Entrust Technologies, the leading global provider of Trust Relationship
Management for e-business,
and Egg, one of the UK’s leading e-commerce financial services companies, today
announced that they have won MIPS
Technologies “Best M-Commerce Implementation Category” at the Advanced Card

Egg’s use of Entrust Technologies’ getAccess Mobile Server enables Egg to
deliver secure, individualized web access to its
customers via WAP, and ensure its customers can access banking and shopping
services via mobile devices.

The Advanced Card Awards, now in its third year, is the UK’s foremost card
industry awards program. Its aim is to reward
pioneering implementations and technical innovation within the international
card industry. The best M-Commerce Implementation
category was introduced this year and recognizes the increasing importance of
smart card technology in secure m-commerce.
Entrust competed against other leading smart card manufacturers in this
category. The judges of the award included leading
figures from the Smart Card industry as well as other independent experts such
as Duncan Brown, Consulting Director at Ovum,
and Jack Schofield, computer editor at the Guardian.

“The Advanced Card Awards scheme was created to honor innovative
technologies in the card industry,” said Richard Kirk,
vice president and general manager, Global Wireless Solutions, Entrust
Technologies. “To have won this award is recognition of
our market-leading work with Egg-a collaboration that positions Entrust
Technologies at the forefront of wireless technology.”

“We are delighted to have won this award,” said Peter Marsden, chief
technology officer at Egg. “Through our long standing
relationship with Entrust, our customers can now enjoy unlimited access to
their account information at any time, wherever they
are. We are really pleased with our choice of getAccess and our continued
relationship will help build on our already hugely
successful banking service.”

The smart card industry is growing and the technology will play a
fundamental role in both leisure and commerce. The scope of
smart cards has already extended from banking cards to intrinsic security
elements in the arena of Internet and mobile services.
Entrust is leading the way in this arena by delivering innovative secure
solutions that enable companies to expand their e-business
capabilities and exploit the new opportunities offered by wireless commerce.

Schlumberger Test & Transactions, a business segment of Schlumberger Limited
announced it has
won the coveted Advanced Card Award for the “Best Loyalty Implementation”
with its Advantage Card powered by Egg. Based on the Schlumberger
EMV-compliant e-Galleon card, the Advantage Card combines loyalty points and
credit capabilities on one secure smart card – turning the potential of
multi-application card technology into practical reality.

The third annual Advanced Card Awards also selected the iSimplify! Card,
developed by Bull CP8 and announced at the Paris-based Cartes’1999 fair, as
the most innovative product of the year.

The iSimplify! card is based on an innovative technology which transforms
a smart card into a true node of the Internet network and is the first smart
card to integrate this concept.

The card is designed to simplify and secure personal access to the
Internet by integrating Internet protocol (IP) communications within the smart
card. The iSimplify! card stores each user Internet ID, enabling secure,
hardware-independent access to personal data such as bookmarks and e-mail
address books. The Oversoft technology used in the iSimplify! card is a
communication architecture that adds a new function to the smart card. The
card “talks IP”, is proactive and can achieve operations requested via the

iSimplify! selected by Dataquest
Dataquest highlighted the iSimplify! card as particularly relevant to
network security applications and as one of the most innovative developments
in the smart card industry in 1999. Dataquest identifies secure network
access as the fastest-growing smart card application, particularly in North
America, which will retain more than 56 percent of worldwide share throughout
1999-2004 period.

About the Advanced Card Awards

The Advanced Card Awards is the UK’s foremost card industry awards program,
rewarding excellence in all aspects of the
international card industry. Now in its third successful year, it is sponsored
by Bull, ORGA, STMicroelectronics, Oberthur Card
Systems, MIPS Technologies, Card Technology, RNIB, Smart Card 2001, Mortimer
Alexander, Knight & Charles, Bluefish,
Mondex International and Ctt. For further information, contact Jane Adams on
0044 205 226 9841.