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NOW PREPAY ANNOUNCES SALES
TO NEW CHANNEL PARTNERS
March
24, 2003 - VendTek Systems Inc. (TSX-V: VSI) ("VendTek"),
a leading provider of automated transaction technology,
is pleased to announce that its subsidiary Now
Prepay Corp. ("Now Prepay") has sold
432 POS terminal e-Fresh licenses to four new
channel partners.
The
sales represent more than 400 new Now Prepay distribution
points in British Columbia, Alberta, Ontario,
and Quebec that e-Fresh software will be installed
in.
Now
Prepay President, Doug Buchanan, said; "Our
Strategic Channel Partners each represent a unique
market or business strategy to us. These license
sales will allow our channel partners to deliver
our Now Prepay products with their payment application
in their customers' POS terminals throughout the
provinces, further increasing Now Prepay's distribution
base."
Visit
our new website www.vendteksys.com for additional
information.
For
more information, or to receive news and updates
as they become available, please contact Samantha
Haynes at 604.940.2239.
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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