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WIRELESS
PRODUCTS MARKETING ORDERS MORE CLIENT LICENSES
July
10, 2003 - VendTek Systems Inc. (TSX-V: VSI) ("VendTek"
or "The Company"), a leading provider
of software for prepaid service distribution,
is pleased to announce that Wireless Products
Marketing Inc. ("WPM") has purchased
an additional 100 e-Fresh client licenses.
WPM
has ordered more than 200 e-Fresh licenses since
March 2003 for their network of Verifone POS terminals.
WPM's terminal deployment using VendTek's e-Fresh
technology continues to grow in the United States
as their customers benefit from the electronic
delivery of prepaid services..
"WPM's
additional orders are an excellent testament to
the ease of use of
e-Fresh and the US market's adoption of purchasing
prepaid products through POS terminals",
says Paul Brock, President of VendTek Systems
Inc.
According
to Atlantic-ACM, the prepaid wireless segment
will remain a hot spot in the US telecommunications
industry for the next few years since more than
a third of consumers who apply for wireless telephones
are declined because of bad or nonexistent credit
and rely on prepaid alternatives for their cellular
airtime.
The
estimated market in the US for prepaid wireless
is US$4.4 billion in 2003 growing to US$10.0 billion
by 2007 according to Atlantic-ACM.
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 and licenses e-Fresh software
and related technologies, which provides electronic
distribution of prepaid telecommunication and
financial services.
VendTek is commercializing the e-Fresh software
under license to create sustainable and recurring
revenues. VendTek's customers and its subsidiaries,
Now Prepay Corp. (in Canada) and VendTek Systems
Technologies
(in China), 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
e-Fresh 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.
About
Wireless Products Marketing
Wireless
Products Marketing Inc. ("WPM") is a
Bloomington, Minnesota based corporation founded
in 1997. WPM distributes to convenience stores,
specialty retailers, mass merchandisers, and provides
electronic pin infrastructure for other distributors.
In 2002, WPM activated 20,000 customers for Verizon
in the Minneapolis / St. Paul area and generated
over $3.5 million in sales revenue. For further
information, please contact the company directly
at 952-346-1000.
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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