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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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