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VENDTEK ANNOUNCES NOW PREPAY HAS DEPLOYED 4000 e-Fresh POS TERMINAL CLIENTS IN CANADA

May 25, 2004 - VendTek Systems Inc. (TSX-V: VSI) ("VendTek" or "The Company"), a leading provider of software for prepaid service distribution, is pleased to announce its wholly owned subsidiary Now Prepay Corp. has reached 4000 e-Fresh™ POS terminal clients in Canada.

"We continue to be extremely pleased with the growth rate of e-Fresh clients in Canada through our Now Prepay subsidiary. We are striving to be the leading provider of technologies for automated and electronic distribution. The success of Now Prepay is helping us work towards our goal. Now Prepay is quickly becoming the most recognized name for prepaid distribution amongst the retailers of prepaid products and services in Canada." said Paul Brock, President of VendTek Systems Inc.

The POS terminals have been deployed in a wide range of retail sites throughout Canada including several major retail chains. The Now Prepay POS terminal clients and server create recurring transaction revenues from the sale of prepaid services. The Company has demonstrated continued revenue growth with the ongoing deployment of terminals. Based on existing business objectives for the next 6 months, the Company expects to reach 10,000 terminal clients deployed before the end of December 2004. Now Prepay began selling services through POS terminals in December 2002.

For more information, or to receive news and updates as they become available, please contact Samantha Haynes at 604.940.2239 or 1-800-806-4958 or investment@vendteksys.com.

 

About VendTek and Now Prepay
(www.vendteksys.com / www.nowprepay.com)

VendTek Systems Inc. develops, markets, and sells e-Fresh, which is a suite of software applications use to electronically distribute prepaid telecommunication products and financial services. Commercialization of
e-Fresh under license is VendTek's strategy to create sustainable and recurring revenues.

VendTek's customers and its subsidiaries, Now Prepay Corp. and VendTek Systems Technologies (Beijing), are using e-Fresh software to build electronic, prepaid services networks which enable consumers to purchase prepaid services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to the traditional distribution paradigm. e-Fresh reduces shrinkage and inventory requirements while improving consumer access to prepaid services since it is completely electronic and eliminates physical cards and vouchers.

 

This release contains forward-looking statements within the meaning of the "safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company assumes no obligation to update any forward-looking information contained in this news release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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Now Prepay Corp.  |  Last updated 2003-02-11