To: Panita who wrote (63752 ) 3/23/1999 11:55:00 AM From: ErnestPoe Read Replies (2) | Respond to of 119973
DCTI starting to Fly on news! Should see $7.00 today. Digital Courier to Acquire Secure-Bank.Com Acquisition of Internet Credit Card Processing Gateway Will Expand DCTI's Merchant Base PARK CITY, Utah, March 23 /PRNewswire/ -- Digital Courier Technologies, Inc. (Nasdaq: DCTI) announced today that it has signed a letter of intent to acquire Secure-Bank.com of Clearwater, Florida. Secure-Bank is a processing gateway for secure credit card transactions over the Internet. Digital Courier will issue 4,500,000 shares of common stock in the acquisition of Secure-Bank, which handles merchant traffic for both US and international banks. "The acquisition of Secure-Bank accelerates our strategy of becoming a leading Internet-based credit card processor, both internationally and in the United States," said James Egide, Chairman of Digital Courier. Digital Courier announced earlier this month that it had agreed, subject to shareholder approval, to acquire DataBank International SKB. Upon consummation of the two acquisitions, Digital Courier expects to generate revenues of over $1.4 million per month from Internet credit card processing. Secure-Bank presently handles over 1 million transactions per month for US and international banks through a variety of credit card processing portals, which connect Internet merchants to the credit card networks. The gateway combines secure real-time access with sophisticated fraud prevention features that regulate and manage customer and merchant activity. Secure-Bank has also developed the RISC (Risk Interface Security Control) system, which is being marketed to financial institutions pursuing Internet based commerce. The RISC technology and several key processing modules will be fully integrated with Digital Courier's existing netClearing technology. "The combination of Digital Courier's netClearing technology with our risk management software and large merchant base will create a vertically-integrated and operationally efficient e-commerce solution, superior to presently existing models" said Stephen Cannon of Secure-Bank. "The addition of Secure-Bank will consolidate Digital Courier's position in the Internet payment processing industry, securing strong revenue streams from both domestic and international sources," said Mitchell Edwards, Chief Financial Officer of Digital Courier. "Successful consummation of the DataBank and the Secure-Bank acquisitions will enable us to report significant revenue earlier than originally forecast," Edwards said. Digital Courier Technologies, Inc. supplies businesses and major web portals with sophisticated e-commerce, payment processing and content delivery software. Its netClearing division offers sophisticated and secure credit card and payments processing services and technology on the Internet. Its current content offerings, which utilize the powerful e-commerce and content delivery software, include: WeatherLabs, a premier on-line weather information service (www.weatherlabs.com), Videos Now, (www.videosnow.com), and Books Now (www.booksnow.com). Among Digital Courier's strategic partners utilizing the Company's software and/or services are major Internet companies such as America Online, Excite, Netscape, @Home and Preview Travel. 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 acquisition and integration of Secure-Bank.Com and DataBank International SKB, the potential for increased competition which could affect pricing and profitability, and the Company's continued ability to create or acquire programming and products that customers will find attractive. SOURCE Digital Courier Technologies, Inc. CO: Digital Courier Technologies, Inc.; Secure-Bank.com; DataBank International SKB ST: Utah, Florida IN: CPR MLM SU: TNM 03/23/99 10:28 EST prnewswire.com