To: Ron who wrote (85498 ) 7/20/1999 11:27:00 AM From: VeloSpeed Respond to of 119973
DCTI news out: biz.yahoo.com -VeloSpeed July 20, 1999 11:15 Digital Courier Technologies, Inc. Revenues Exceed $800,000 from netClearing's First Full Month of Internet Payment Processing Operations PARK CITY, Utah, July 20 /PRNewswire/ -- Digital Courier Technologies, Inc. (Nasdaq: DCTI) announced today that its Internet payment processing service, netClearing, reported unaudited June 1999 revenues of over $800,000 on approximately 1.5 Million transactions in its first full month of operations. The revenue derives from the recently completed additions of Secure-Bank.com, Inc. and Access Services, Inc to DCTI's netClearing operation. "These results validate our decision to reposition the company by divesting the other divisions and concentrating on the Internet payment processing industry," stated Jim Egide, Chairman and Chief Executive Officer of DCTI. "This is just the tip of the iceberg as over the next several months we complete the acquisition of Databank International, SKB and implement our worldwide distribution agreement with ACI," he added. ACI is a subsidiary of Transaction Systems Architects, Inc. (Nasdaq: TSAI), a global leader in the payment processing industry. "During our next fiscal year (commencing July 1, 1999), we expect our revenues to propel us into a position as a major player in the Internet payment processing arena," stated Mitchell Edwards, Executive Vice President and Chief Financial Officer of Digital Courier. Digital Courier is currently in the process of finalizing the announced acquisition of DataBank International, an international Internet payment processing company, subject to compliance with the SEC's proxy solicitation rules and shareholder approval. Digital Courier supplies financial institutions, businesses and major web portals with sophisticated e-commerce, payments processing and content delivery software. Its integrated netClearing product provides an end to end Internet payment gateway to the credit card networks, provides payment processing management, and combines real-time access with sophisticated fraud prevention features. For more information about the netClearing product, visit Digital Courier on the internet at www.dcourier.com or www.netclearing.com. This press release contains forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties which could significantly affect expected results in the future from those expressed in any such forward-looking statements made by, or on behalf of the Company. Certain factors that could cause actual results to differ materially include, without limitation, risks relating to the integration of Access Services Inc. and Secure-Bank.com, Inc., risks relating to the acquisition and integration of DataBank International, SKB and the potential for increased competition which could affect pricing and profitability. SOURCE Digital Courier Technologies, Inc.