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Non-Tech : Euronet Services Inc. ( EEFT )

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To: leigh aulper who wrote ()	3/26/1999 9:42:00 AM
From: leigh aulper	of 5

BUDAPEST, Hungary, March 26 /PRNewswire/ -- Euronet Services Inc. (Nasdaq: EEFT - news) announced today a major agreement with Service Bank GmbH & Co. KG (''Service Bank'') to acquire 252 installed ATMs in Germany and 35 ATMs in inventory. ''This agreement more than doubles the size of our network in Germany and makes Euronet a national market leader in off-bank ATM networks,'' said Euronet's CEO, Michael J. Brown. ''Germany has been one of the Company's fastest growing markets and this acquisition is expected to significantly accelerate that growth.'' The purchase price for this established ATM network was DEM 12.2 million (USD 6.7 million). Under the agreement, which was effective as of January 1, 1999, Euronet receives monthly fees based on revenues realized from the ATMs, less certain expenses and management fees payable to Service Bank. The revenues generated from these additional ATMs combined with Euronet's existing in-country network will make Germany the Company's largest market in terms of revenues. The agreement also provides that Euronet and Service Bank will cooperate in expanding the ATM network and promoting the delivery of new services over the network. The new agreements extend the existing arrangements under which Euronet has been providing services to Service Bank, and brings the total number of live ATMs owned and/or serviced by Euronet in Germany to approximately 450. Service Bank GmbH & Co. KG is a German bank and a subsidiary of General Electric Capital Corporation.

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