CASH TECHNOLOGIES, INC. SIGNS E-COMMERCE CONTRACT (PR Newswire; 01/06/99) LOS ANGELES, Jan. 6 /PRNewswire/ -- Cash Technologies, Inc. (Nasdaq: CHNG), announced today that it has signed a contract with Quest Telecom, Inc. to provide real-time activated prepaid phone card services for CTI's E-Commerce Platform. The contract establishes CTI's exclusive right to offer Quest phone cards on its ATM-X(TM) and CoinBank(R) machines. "This contract adds Quest, a leading provider of telecommunications services, to the group of application partners participating in CTI's E-Commerce Platform," said Cash Technologies Chairman and CEO Bruce Korman. "The advancements that CTI brings to financial transaction kiosks, such as ATMs or the CoinBank(R) coin deposit machine, allow the Company to harness Quest's state-of-the-art real time activation capability; that is, the ability to electronically issue a phone card in an amount determined by the user at the time of its purchase. This eliminates the inventory costs and risk of theft associated with vending live phone cards, a problem that has long plagued the $4 billion prepaid phone card market." "Presently, CTI has the only demonstrated solution that allows ATMs to perform electronic commerce transactions, such as electronic bill payment, event ticket, phone card or other purchases; and that provides consumers with the ability to obtain e-commerce products and services using cash." "For the nearly 60% of the U.S. population that have no PC and the 75% that have no Internet access kiosks are the only way to purchase goods or services over the Internet. With current forecasts calling for e-commerce sales to exceed $2.5 trillion early in the next millennium, we believe that kiosks will become an essential e-commerce avenue. A phone card is one of many products that can be offered through this medium." The Quest agreement includes provisions for renewal at the end of its initial three year term and certain minimum unit requirements. Cash Technologies, Inc. develops and markets innovative e-commerce kiosks, including advanced self-service coin counters and the 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.