PTi Announces Internet Revalue Of Smart Cards; Enables Convenient, Secure Transfer of Electronic Cash At PCs and Interactive Kiosks Using SmartCity 4
(Business Wire; 04/23/98)

    MIDDLETOWN, Conn.--(BUSINESS WIRE)--April 23, 1998--Product Technologies 
Inc. (PTi) today announced that Internet revaluing of smart cards can now be 
accomplished using SmartCity(R) 4, its turnkey smart card-based e-purse 
(electronic purse) application that also provides a multi-application 
development platform and tools to systems integrators. This enhancement makes 
it possible for SmartCity smart card holders to load cash to their e-purse(s) 
via the Internet from such devices as PCs and interactive kiosks.

     To add more cash value, the user inserts a smart card into a PC/SC-
compliant smart card reader. The user then accesses the participating financial 
institution's Web site via a standard Web browser and selects the smart card 
revalue option. The application prompts the user for a smart card PIN and the 
amount of money the user wishes to add to the card's purse. Pertinent account 
information is then securely read from the card and transmitted with the 
revalue request to the financial host for routing to the appropriate 
authorization network. If authorized, the cardholder's account is debited or 
charged and the value loaded to the card's purse. In addition to the revalue 
function, cardholders may also view purse balances and their last 10 
transactions.

     The availability of this new technology means that a user no longer needs 
to travel to a bank to load e-purse funds; the card can be revalued securely 
without the user ever having to leave home. The demand for this kind of 
convenience is evidenced by a new study from Killen & Associates which 
forecasts a smart card revaluing market of $26.5 billion by 2005.

     "This advanced Internet-based technology that we have developed for 
SmartCity is a first, and it responds to a strong market need to provide the 
consumer with increased convenience, as well as security in electronic purse 
transactions," said Bill Mangino, PTi's president and chairman. "PTi remains 
committed to delivering these technological advances to our customers in 
anticipation of market demand."

     The Internet Revalue feature of SmartCity 4 will be demonstrated at 
CardTech/SecurTech `98 in Booth No. 1230. The show will be held at the 
Washington Convention Center in Washington D.C. from, April 28-30, 1998.

Pricing And Availability

     The Internet Revalue feature of SmartCity 4 will be available in June 
1998. Price varies according to customer's existing SmartCity installation.

About PTi

     PTi is a leading supplier to systems integrators of smart card-based e-
purse applications that can be used in combination with loyalty and other 
applications. It is headquartered in Middletown, CT, with a branch office in 
Moscow, Russia. Further information on the company can be found at: 
http://www.prodtech.com.