IPAT Kiosks Expanding

ObjectSoft Corporation has retained the services of two major organizations to raise additional capital and to market nationwide the firm’s interactive public access terminals, housed in modular kiosks, Chairman David E.Y. Sarna announced today.

Infusion Capital Partners, LLP has been retained by ObjectSoft to raise $5 million in debt financing. This financing is to provide the company the necessary funds to expand the distribution of kiosks in New York City and other cities throughout the U.S.

The prominent real estate firm of Julian J. Studley, Inc. will seek locations for at least 50 more IPAT kiosks in New York City over the next six months. Managing Director Marc Miller will spearhead this effort. Additionally, ObjectSoft plans entry of the IPAT kiosks into the top ten media markets including San Francisco, Seattle, Los Angeles, Chicago, Philadelphia and Memphis within the next twelve months.

“We are starting to receive an enormous amount of attention and inquiries,” explained Sarna. “We are assembling this team to respond to this attention and move strategically with further development and deployment.”

“People are interested in our products and service,” said President George J. Febish. “These two resources will assist in our development and help us to reach our goals efficiently and with the best possible product on the market today. People who use our IPAT kiosks should find the information useful and enjoy the experience.”

ObjectSoft currently maintains SmartStreet IPAT kiosks as a part of the CityAccess program in New York City. SmartStreet IPATs bring information and regulations, forms and services to New Yorkers directly from City mainframe computers using multi-media technologies. Using an ATM-type screen, visitors and residents also can access hundreds of pages of information on attractions, dining, theater, hotel accommodations and customized transit maps.

SmartStreet also allows the user to design and print custom maps. ObjectSoft currently has SmartStreet IPAT kiosks in the Department of Health building at 125 Worth Street, Manhattan; The St. George’s Terminal of the Staten Island Ferry, The Bronx and Brooklyn Municipal Buildings, Queens Borough Hall and the New York Hall of Science in Queens.

About ObjectSoft

Founded in 1990, ObjectSoft is a leader in providing information and Internet-based services and has pioneered secure credit card processing of electronic commerce. ObjectSoft is a publicly held company listed on Nasdaq. For more information on ObjectSoft, visit their website at .

This press release contains certain forward-looking statements concerning ObjectSoft which are subject to a number of known and unknown risks that could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Among such risks are those discussed in the Company’s Registration Statement on Form SB-2 and its Quarterly Report on Form 10-QSB and include, but are not limited to, limited operating history, recent establishment of new business divisions, dependence on new and untested product, risks related to technological factors and potential manufacturing difficulties.

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Kiddie Bank Accounts

Would a typical American parent move their banking and brokerage accounts to a financial institution that offered special terms for child-oriented services? This question is being posed in the first “My Kid Counts!” survey on the Kids Own America Web site at www.kids-own-america.com>.

Kids Own America President Clifford L. Brody said: “This survey is important because the reality today, quite simply, is that kids don’t count for much in the eyes of many banks and brokerage firms. In almost all cases, they get lousy deals in terms of low-interest ‘kids accounts’ and no break whatsoever from brokerage firms. The results from our focus groups indicate that the vast majority American parents are sick and tired of financial institutions taking the loyalty of their families for granted. Fortunately, a few bank executives already recognize this huge untapped market as the genuine opportunity it represents.”

In addition to the survey, Kids Own America is also using its Web site to sign up parents eager to help their children learn the importance of savings and responsible financial conduct. The most popular feature so far with new members: the “Private List” service under which Kids Own America researchers survey a child’s area marketplace to find the best existing terms among financial institutions. For more information on the “Private List” service, parents interested in joining Kids Own America may call 1-888-KIDS-OWN (543-7696) or visit the Web site at http://www.kids-own-america.com.

Kids Own America recently announced that it has succeeded in signing exclusive mulit-year agreements with two major airlines, Continental and American, allowing frequent flyers to redeem award miles as a way to put more cash in banks accounts for children. Frequent flyers will be able to use small amounts of accumulated miles to open and pay for all fees for special Kids Own America bank and brokerage accounts at participating financial institutions.

The “My Kid Counts!” survey question may be found on the Kids Own America Web site at http://www.kids-own-america.com. Brody indicated that survey results will be reported after results are collected from the first 500, thousand, and then five-thousand respondents.

State(s) Bank Name of Productfor Children MinimumStartingDeposit MinimumBalance InterestRate VAGeorge Mason BankMinor Savings Account/Kids Savings AccountNone$05.25% AZ, FL, WIMarshall & IsleyPersonal Savings Account$20$202.78% ID, NV, M, OR, UT, WYFirst Security BankStatement Savings Accounts$50$02.75% NYRepublic National BankBank for Kids$1.00$02.75% MDProvident Bank of MarylandMinors Savings Account$25$02.69% IL, IN, OH, MIFirst ChicagoFirst Generation Savings Account$10$02.53% NC and 33 other statesNationsbankMinor Savings Account$25$02.50% AL, FL, GA, TNAmSouth BankMinor Savings AccountNone$02.47%

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AmEx Smart Cards

With significant smart card pilots underway with Hilton Hotels, Continental Airlines, and American Airlines, American Express kicked off yet another smart card test Friday the latest one involving US West Public Services. More than 100 US West employees at a company facility in Seattle will test the re- loadable smart cards to pay for purchases at company’s gift shop, cafeteria and vending machines. US West, the first U.S. telco to introduce smart cards in 1994, is developing a multi-functional smart card with global interoperability. The company already operates 20,000 advanced payphones in WA, OR, CO, AZ and MN, that accept US West’s chip-based phone card: ‘US West Telecard’. Both firms are members of the Global Chipcard Alliance.

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Holiday Crystal Ball

Arthur Andersen says consumer are bullish on the economy with 77% of American expecting to spend the same or more this year on holiday gifts. As a result overall 1997 retail sales will increase 3%-5%. The ‘Arthur Andersen Holiday Outlook Survey’ says the average holiday budget is $774 per shopper. “Baby Boomers” will increase spending about 12% this year while “Generation Xers” will spend about 32% more this year. The survey also showed gift certificates are growing in popularity.

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Smart Card Study

London-based SJB Services projects the number of worldwide smart cards issued will approach four billion by the year 2000 compared to 800 million issued last year. The company released a study this morning simply called “The Smart Card” study that examines 425 smart card installations around the world and details 63 case studies. The report, available in hard copy or CD-ROM, also covers 280 firms engaged in the smart card business.

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NYC Pilot Expands

The ‘VISA Cash-Mondex’ Upper West Side/New York City smart card pilot expanded to more than 700 merchants Thursday. Yesterday the U.S. Postal Service joined the pilot jointly conducted by Citibank and Chase Manhattan. The stored value cards can be used for all retail postal transactions except for C.O.D.s and passport fees. NationsBank and First Data are processing the USPS pilot transactions. Citibank is allowing ‘VISA Cash’ cards to hold up to $500 in value while Chase is limiting ‘Mondex’ cards to a maximum of $200. ‘Mondex’ cards can be reloaded at 41 designated Chase ATMs while ‘VISA Cash’ must be reloaded via special kiosks located throughout the Upper West Side, including the participating post offices.

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New Mall Card

The apparent success of PNC’s ‘Mall V.I.P. Visa’ has prompted at least one East Coast mall owner/operator to issue a new rewards ‘MasterCard’. Johnstown, Pa.-based Crown American launched the ‘Crown Rewards MasterCard’ yesterday via MBNA America. The new card will be offered through 25 shopping malls operated by Crown American in PA, MD, WV, VA and NJ. The card offers monthly rebates (1% of purchases) in the form of $10 coupons redeemable for mall gift certificates. Consumers applying through the end of this year will receive free stroller rental and gift wrapping for one year.

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Ameritech Phone Cards

Feeling the competitive heat in prepaid phone cards Chicago- based Ameritech launched two new phone cards yesterday. The new Ameritech ‘A+’ phone card features flat rate pricing for all domestic calls regardless of destination. The company also announced a cobranded phone card, called ‘Family Memories’, which doubles as a birth announcement for new parents and offers partners a pocket billboard. The ‘Family Memories’ card will be available in 3,900 hospitals nationwide and enables new mothers and fathers to send family and friends free phone time on a card bearing the photo of the newborn. Ameritech recently issued a phone card featuring the Renoir exhibit underway in Chicago.

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Calypso is Born

The first national, independent, ATM/EFT banking network in more than ten years will go online early next year. ‘Calypso’ is targeted to medium-sized and smaller financial institutions as well as non-bank ATM owners. Consultant Del Tonguette, who is handling the development, indicates this morning the network was founded as an answer to the growing frustration of ATM owners in developing new, market-responsive ATM services amidst “pages and pages of rules” and fee requirements. Calypso Systems LLC, to be based in Louisiana, expects to have more than 5,000 ATMs in operation within the first year and plans to expand to POS and e-banking by 1999.

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BankAtlantic Exxon ATMs

BankAtlantic announced today that it had entered into an agreement for BankAtlantic to install by mid-1998 as many as 57 ATMs in Exxon facilities operated by Miami-based Exxon distributor Estevez Oil Corporation. Under terms of the agreement, the first phase of the ATM installations will be operational in the next 60 to 90 days, and will include placement of 25 BankAtlantic ATMs in Exxon facilities located in Dade, Broward, Palm Beach and Monroe counties, said BankAtlantic Senior Vice President for Sales Alex Garcia. Phase two of the agreement gives BankAtlantic exclusive rights to install 32 more ATMs in other tri-county Exxon locations, in Exxon facilities in the Florida West Coast community of Naples and in the Florida Keys.

“We are excited to offer BankAtlantic and Exxon customers the value-added convenience of access to their cash on a 24-hour basis, as well as account transfer and account balance services,” said Mr. Garcia. “When the Exxon installations are completed, BankAtlantic will have more than 300 ATMs in operation throughout Florida. Currently, BankAtlantic ATMs are located in 62 BankAtlantic branches, inside Wal*Mart and Wal*Mart Supercenter stores statewide, aboard 15 Carnival and Celebrity cruise liners, and at various South Florida malls and college campuses. This agreement continues BankAtlantic’s strategy of enhancing BankAtlantic’s name recognition and increasing its market penetration throughout Florida,” Mr. Garcia added.

“Public demand for ATM services in non-traditional locations continues to grow,” said Mr. Anthony Estevez, president of Estevez Oil Corporation. “BankAtlantic ATMs at Exxon locations will provide a popular service to our existing customers, as well as a competitive draw for added business at our Exxon facilities.”

BankAtlantic’s parent company, BankAtlantic Bancorp (NYSE: BBX), is publicly traded on the New York Stock Exchange under the symbol BBX, and on Nasdaq under the symbol BANC. BankAtlantic — which has assets of $2.8 billion and operates 62 full-service branches in Broward, Dade, Palm Beach, Sarasota, Lee, Charlotte, Osceola, Flagler and Manatee counties — will be the largest financial institution based in Florida after the pending NationsBank/Barnett merger.

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Citibank Card Bonds Rated

Duff and Phelps Credit Rating Company (DCR) has assigned a AAA (Triple-A) rating to the Citibank Credit Card Master Trust I Series 1997-10 $500 million class A credit card participation certificates, and a AA (Double-A) rating to the $32 million class B certificates. The three-year issue has a coupon of 1-month LIBOR for the class A certificates and 1-month LIBOR plus 0.16 percent for the class B certificates. Both have a final maturity date of November 15, 2001.

DCR’s ratings reflect the benefits of the socialized structure of the master trust, wherein all series aggregate collections and share in any excess or shortfall to the same degree. The credit enhancement levels for his series are identical to the other series issued by the master trust, relying on 11 percent enhancement for the A class and 7 percent for the B class. A New Financing Report Summary detailing this transaction is available on Bloomberg at DCR “GO” or by calling the DCR Hotline at 312-368-3198 or by e-mail at hotline@dcrco.com.

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