Cash Technologies Signs Agreement to Install Coin Machines at Shaw's Supermarkets

11:29 a.m. Oct 07, 1998 Eastern

LOS ANGELES, Oct. 7 /PRNewswire/ -- CoinBank Automated Systems, Inc. ("Coinbank"), a wholly owned subsidiary of Cash Technologies, Inc. (Nasdaq: CHNG), announced today that it has reached an agreement with Shaw's Supermarkets, Inc., to install 50 CoinBank(R) self-service coin counting machines in Shaw's stores in Connecticut, Massachusetts and Rhode Island. Shaw's is one of New England's largest supermarket operators, and is wholly owned by J Sainsbury's PLC, England.

A milestone in CoinBank's aggressive marketing program for the New England area, the Shaw's agreement establishes CoinBank as the exclusive provider of coin counting kiosks to the supermarket chain for the next three years.

"We're pleased that Shaw's has selected CoinBank(R) coin counting machines over the competition for installation in their supermarkets," said Cash Technologies Chairman and CEO Bruce Korman. "CoinBank's research indicates that New Englanders redeem unusually large quantities of loose coin, making Shaw's extensive retail network in that region of particular value."

Cash Technologies, Inc. develops and markets innovative e-commerce kiosks, including advanced self-service coin counters and multifunction ATM-X(TM) automated teller machine. The Company also provides computerized cash processing services to banks, armored carriers, rapid transit agencies and other cash-intensive businesses. SOURCE Cash Technologies, Inc.

Copyright 1998, PR Newswire

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