New AmEx Expense Management Solution

American Express Corporate Services, the world’s largest corporate card and business travel services provider, today announced a strategic alliance with Portable Software Corporation, the worldwide leader in travel expense automation solutions based in Redmond, WA, to integrate Portable Software’s automated expense management system into its corporate travel product set for companies in the U.S. and around the world.

This alliance enables American Express Corporate Services to offer an integrated set of intranet-based travel management tools — from travel reservations to management reports to expense management — as part of RoundTrip Services(SM), a variety of products and services designed to help companies better manage travel and entertainment.

American Express will offer Portable Software’s Xpense Management Solution(TM) (XMS) in place of the Expense Manager software American Express developed for an e-mail platform, introduced in 1996.

The Xpense Management Solution, in use by more than 65 Fortune 1000 and multinational companies today, is an enterprise-wide solution that enables companies to reduce administrative costs by automating the entire T&E expense management process.  XMS gives business travelers convenient access to electronic data, including information on charges to their American Express Corporate Cards.  The software enables them to easily complete and file expense reports from their PCs and speeds reimbursement by seamlessly integrating with corporate accounting systems.

XMS will be the first enterprise expense management system to be released in a multi-platform Windows and intranet version in March of this year. Future versions of XMS will include additional enhancements for American Express Corporate Card customers and fully integrate with American Express’ AXI(SM) (American Express Interactive) corporate online travel reservation system, which was jointly developed with Microsoft Corporation.

“We’ve seen a dramatic shift in demand in recent months toward intranet-based T&E systems as companies took for ways to integrate travel booking with expense management in an easy-to-use application that employees can access any time, from any place,” said Mike Mulligan, Senior Vice President and General Manager, American Express Corporate Services Interactive group.  “Portable Software’s XMS, integrated with AXI for trip booking, will enable us to meet this growing demand with an intranet-based solution that supports multiple languages, currencies and international expense practices.”

“We’re excited about working with the industry leader in corporate card programs,” said Steve Singh, President and CEO of Portable Software Corporation.  “Many of our existing Fortune 1000 and multinational customers are American Express Corporate Card customers.  This alliance will enable us to work with American Express to build in product features that fully leverage the advantages of an integrated end-to-end travel and expense management system.”

Controlling Corporate Travel Costs

Travel and entertainment (T&E) is typically a company’s third-largest controllable cost, and the average company spends an additional 5% of its annual T&E budget just processing the paperwork related to expense reports.  A manual process costs the average company $36 per expense report, according to a recent in-depth American Express study.  Automating the process can cut that cost to $8 or less and reduce the time employees spend per expense report from 55 minutes to 15 minutes or less.

By integrating XMS with American Express’ full array of RoundTrip Services, including Web-based travel booking system AXI and its traditional travel agency services, American Express offers companies a comprehensive way to ensure that corporate travel guidelines and negotiated rates are applied consistently, whether reservations are initiated by PC or telephone.  And, companies can reduce the time and effort travelers spend making reservations and filing expense reports.

“My goal as a travel and financial director is to implement solutions that streamline and reduce the overall cost of travel,” said Elliot Grissom, Director of Accounts Payable, Travel, and Financial Systems for Solutia Inc., formerly the chemical businesses of Monsanto Company.  “The integration of American Express’ Corporate Card and AXI solutions with Portable Software’s XMS solution will ease the strain on a company’s travelers. It will encourage them to follow spending guidelines and use corporate discount rates, as well as provide companies with the information to better manage travel budgets and vendors.”

American Express Travel Related Services Company, Inc., is a wholly owned subsidiary of the American Express Company — a diversified worldwide travel, financial and network services company founded in 1850.  It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance, and international banking.  More information on American Express Corporate Services may be found on the World Wide Web at [http//www.americanexpress.com/corporateservices][1].

Since 1993 Portable Software Corporation has been developing and marketing travel and entertainment automation software and services that serve the entire enterprise, from business travelers to corporate accounting departments.  Its flagship product, the Xpense Management Solution (XMS), has been chosen by more Fortune 1000 and multinational companies for enterprise-wide T&E expense automation than any other travel expense solution. As the recognized worldwide leader in T&E expense automation, Portable Software has already automated travel expense management processes in over 250 companies around the world.

[1]: http://www.americanexpress.com/corporateservices

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NCR & CyberCash Partner

NCR Corporation today added CyberCash as an online bill payment supplier for its SmartEC Billing Plus, making it a total billing access solution that allows businesses to pay telecommunications bills securely online from any existing checking account, just as they do today with paper bills.

CyberCash’s Internet payment solutions will be incorporated into NCR’s SmartEC Billing Plus to allow businesses to review, analyze, and pay their telecommunications bills right at their desks via the Web, with no additional software required.

“We chose to partner with CyberCash to enable the Internet bill payment capabilities of our SmartEC Billing Plus solution because we recognized that our customers are looking for complete solutions,” said Paul O’Brien, vice president of NCR’s Communications Industry Business Unit.  “SmartEC Billing Plus is a complete online billing solution for telecommunications companies, providing online access to billing details with review and analysis tools, and online bill payment.”

The bill presentment and payment process begins with the customer inputting a password to access his/her account information securely via the telco’s own Web site.  When the amount due is presented, the customer simply clicks on a PayNow(TM) button.  The standard check book interface is familiar to anyone who has paid bills with a paper check.  The bill payment screen on the Web site enables encrypted transactions to move between consumers, businesses, telecommunications companies and their bank.

“NCR’s SmartEC Billing Plus solution provides telcos with compelling content which guarantees recurring visits to their Web site,” said Richard Crone, vice president and general manager of PayNow Secure Electronic Check Service for CyberCash.  “Deploying a ‘direct to the biller’ service like NCR SmartEC Billing Plus on the telco’s Web site is key to learning how to deepen its own branded relationships with customers.”

NCR SmartEC Billing Plus also includes

* Online Bill Summary Allows customers to view a summary bill with call and cost information, similar to a printed billing statement summary page.

* Online Bill Analysis Allows customers to sort, filter, highlight, save and print as they analyze their billing detail records from within a spreadsheet-like interface.

* Security & Data Privacy  Supports multiple-level authorization and enhanced user session authentication using TrustedPASS(TM), an NCR-developed technology.

About CyberCash

CyberCash, Inc., headquartered in Reston, Virginia, is a technology-driven company that provides software and services to enable secure financial transactions on the Internet.  The Company offers a complete suite of Internet payment services including a credit card service, an innovative micropayment service, which enables cash transactions, and a secure electronic check service, which allows consumer-to-business  payments from a bank account. CyberCash is traded on the Nasdaq Stock Market under the symbol CYCH. CyberCash’s Web address is .

About NCR

NCR is the leader in delivering commercial open computer systems for transaction processing and decision-support solutions to customers in all industries.  The company, with headquarters in Dayton, Ohio, has 38,000 employees, including 20,000 service professionals in 1,100 locations and 130 countries. More information on NCR can be found on the World Wide Web .

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Chargeoffs Flat

Chargeoffs for the November collection period among card bonds notched up one basis point to 6.66% according to the ‘Fitch IBCA Credit Card Performance Index’. Delinquencies (60+ days) also edged up slightly to 3.46% from 3.38% in the previous month. Fitch projects bankruptcies will hit 1.5 million for 1998. Among card securitizations posting chargeoff increases Capital One, Chevy Chase, First Chicago and Sears.

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Discover Dinosaur Contest Winner

Justin Hofmann, 6, of Newton, New Jersey, knows why long-necked dinosaurs have long tails, understands the difference between the Triassic and Cretaceous periods and has his own theory of why dinosaurs vanished from the earth 65 million years ago.  Because of his knowledge, this young dino expert won the unique honor of having a new dinosaur named in his honor.  As the grand prize winner of Discover(R) Card’s Junior Paleontologist Discovered Contest, Hofmann was named Discover Card’s Official Junior Paleontologist.  Now, as the contest winner, a newly found species of dinosaur will be named in his honor.

Hofmann, who’s been a dino-enthusiast since age 4, was thrilled to be selected as Discover Card’s Official Junior Paleontologist.  “I really like digging for dinosaur bones in my backyard and pretending to dissect fossils findings,” said Hofmann.  “Now, I’m very excited about having my very own dinosaur named after me and sharing my dinosaur stories with other kids!”

![][1]     The new species of dinosaur is named Nedcolbertia justinhofmanni.  It was a meat-eating dinosaur with a relatively long neck, sharp teeth, grasping hands, long swift legs and a balancing tail.  Nedcolbertia justinhofmanni lived during the early Cretaceous period, about 125 million years ago.  It was recently excavated in east central Utah by James Kirkland, Ph.D., senior paleontologist, Dinamation International Society.

The Junior Paleontologist DISCOVERed contest, launched in conjunction with Universal Studios Home Video release of The Lost World  Jurassic Park(R), is part of Discover Card’s DINOSAURS DISCOVERed program.  The program is designed to stimulate children’s interest in learning more about dinosaurs.

“We are delighted to honor Justin by naming a dinosaur for him,” said Lisa Lampert, vice president, Discover Card marketing, NOVUS Services, Inc.  “We hope our DINOSAURS DISCOVERed program will inspire many more children to take an interest in science and see how much fun learning is.”

To enter the contest, children were asked to explain why they think dinosaurs vanished from the earth 65 million years ago, and why they should be selected as Discover Card’s Junior Paleontologist.

Hofmann was selected from 11 finalists to become Discover Card’s Official Junior Paleontologist.  Hofmann and another first prize winner, Colin Lenehan from Chelsea, Michigan, received a family vacation to Universal Studios Hollywood(R).  Nine runners-up received a $500 savings bond.

The Junior Paleontologist DISCOVERed contest was open to children 6-12. To enter, participants could download a contest entry form from the Discover Card Web site at .  Children entered the contest via the Internet and direct mail.  Entries were judged based on originality and creativity of essay, appropriateness to the subject and knowledge of subject matter.  Winners were selected from the 11 finalists by a panel of Discover Card judges under the supervision of D.L. Blair, Inc., an independent judging organization.

As part of the DINOSAURS DISCOVERed program, Discover Card also created a free, 24″ X 36″ activity poster (call 888-311-DINO) for children interested in fascinating facts about the life of dinosaurs.  The DINOSAURS DISCOVERed poster, available through January 16, 1998, includes exciting dinosaur-related games for children to play such as “Din-O-Maze,” “Are Birds Really Dinosaurs?,” and “Break the Code.”  The poster also contains dinosaur pictures children can color.

Discover Card, issued by a business unit of Morgan Stanley, Dean Witter, Discover & Co., is a general purpose credit and financial services card that is accepted nationwide wherever the NOVUS(R) sign is displayed.

[1]: /graphic/discover/kid_dino.gif

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Micron Low-Cost RFID

Micron Communications, Inc., today announced that it has signed an Authorized Systems Integrator agreement with the Range and Information Systems Group of Science Applications International Corporation (SAIC), authorizing the company to use Micron Communications’ developing MicroStamp remote intelligent communications (RIC) family of products to provide integrated systems solutions for its customers.

As a Micron Communications ASI, SAIC, the largest employee-owned high-technology company in the United States, intends to offer RIC systems solutions for end users by providing site-specific design, system design, software adaptation and development, and comprehensive systems integration and support skills.

“We’re pleased SAIC is now part of the Micron Communications ASI team,” said Michael W. Bokan, Director of Worldwide Sales for Micron Communications. “We believe its reputation as a world-class systems integrator and commitment to deliver quality solutions will expand the number of applications that may benefit from the flexibility and power of our high-frequency MicroStamp and low-frequency MicroTag technologies.”

“In the emerging technology of low-cost RFID, we have seen opportunities for tracking and remote monitoring applications for commercial and defense needs. We have been a charter member using Micron’s products, and are pleased to now formalize the relationship,” said Steve Childress, Senior Systems Engineer at SAIC’s Range and Information Systems Group in San Diego, California. “Most RFID related applications are indeed a ‘system-of-systems,’ requiring a sophisticated systems integrator with core capabilities in software component reuse, database interoperability, complex data communications, proven architectural approaches, and experience in leading a multi-company team on complex, multi-discipline projects,” he added. “With the recent acquisition of Bellcore, we have begun joint work on large, enterprise-wide projects. In the defense area, we are now engaged in and foresee many varied applications of RFID.” Employee-owned SAIC provides high-technology services and products to government and commercial customers in the areas of systems integration, information technology, telecommunications, health systems and services, national and international security, transportation, energy, and environmental systems and engineering. With the recent acquisition of Bellcore, SAIC and its subsidiaries have estimated annual revenues of $4 billion and more than 30,000 employees at offices in 150 cities worldwide. More information about SAIC can be found on the Internet at www.saic.com . Information about Bellcore can be found at [www.bellcore.com][1].

MicroStamp remote intelligent communications (RIC) technology is a very small, high-performance, high-frequency (2.4 GHz), leading-edge wireless automatic identification and data capture technology. Micron Communications believes the MicroStamp integrated circuit is the first wireless communications technology to integrate a direct sequence spread spectrum (DSSS) microwave radio, a microcontroller, and a low power static random access memory (SRAM) into a single chip solution. Micron Communications’ MicroStamp and low-frequency MicroTag radio frequency identification (RFID) products can be used for automatic service station fuel pump authorization, laundry automation, asset tracking, airport passenger bag matching, enhanced security systems, inventory control, automatic vehicle identification, remote smart card technology, and other applications. Micron Communications continues to expand its worldwide network of technical partners. Interested systems integrators, original equipment manufacturers, or end users should contact Micron Communications’ Customer Service Department, 1-800-MICROSTamp (800-642-7678).

Micron Communications, Inc. is a subsidiary of Micron Technology, Inc., whose common stock is traded on the New York Stock Exchange (NYSE) under the symbol MU. For more information about Micron Communications, please visit its web site at [www.microncommunications.com][2].

[1]: http://www.bellcore.com
[2]: http://www.microncommunications.com

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CommKey & Homisco Team

In an announcement made Tuesday  by Company Executives, CommKey Corp. – – a newly formed telecommunications provider specializing in prepaid and long distance services and HOMISCO/VOICENET – – the leader in hotel voice processing and telemanagement systems – – are joining forces to provide one of the most comprehensive, attractive and competitively priced telecommunications and network packages available today for the hotel/hospitality industry.

Through this joint effort, HOMISCO, which currently has more than 2,000 turnkey systems installed in over five continents, will now be offering CommKey’s cost-saving and revenue producing network services for an extremely attractive price along with its Call Accounting, Answer Detection or Voice Messaging Systems. By signing on with CommKey, hotels not equipped with the current guest amenities such as voice messaging, answer detection or call accounting will now have the unique opportunity of adding these features without incurring any capital outlay. In line with their contract for providing their hotel Call Accounting through Lucent Technology, Homisco will promote CommKey’s services through its distributor network on a similar basis.

According to Ron Contrado, President of HOMISCO/VOICENET, “While many companies provide long distance and telemanagement services, there has never been another more comprehensive and engaging offer than this because of the price and inclusiveness of all the different technologies. And, without the need for capital outlay, it is the ultimate form of financing.”

In addition to the unparalleled savings advantages of this offer, CommKey’s unique patented prepaid phonecard program will allow the hotels to recoup potential phone revenues that have, over the last few years, been lost to third party calls such as calling cards or credit cards. By using the CommKey(TM), a combination electronic room key, prepaid phonecard and debit card, guests can use their card to make calls at a twenty percent discount off the standard prepaid rates (an incentive for guests to use this card over others) while the hotel receives a five percent commission on all card usage – – even calls made with the card after the guest leaves the hotel. The hotel also receives commissions on all recharges as long as the guest uses the card.

“This one-of-a-kind offer for complete telecommunications services is a terrific opportunity for hotels to become part of the 21st century,” added Joe Clark, President of CommKey Corp. “We are looking forward to servicing the hotel/hospitality industry and expanding the opportunities with our telecommunications capabilities.”

Serving the hospitality industry for 16 years, HOMISCO/VOICENET has been a one-stop solution for hotel voice processing and telemanagment systems. The Company developed the first Call Accounting System for the resale guest room telephone service in hotels; an Answer Detection System that enabled hotels to resell completed short duration guest room telephone calls. HOMISCO is the only company that develops, markets and supports these three important hotel technology products of its own design and offers them directly to hotels.

CommKey, a newly formed, Los Angeles-based Company specializes in prepaid telecommunications services which make long distance calling easy, enjoyable, affordable and most of all, reliable. CommKey is a facilities based reseller of long distance services that can handle both domestic and long distance calls through its own switching facilities. The Company also provides telecommunications products and services including dedicated long distance, prepaid long distance phonecards, prepaid cellular, international call back and internet services.

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Boston Gas E-Bills

Princeton TeleCom Corp. announced Tuesday that it has been selected by Boston Gas Company to support a new state-of-the-art bill presentment and payment program to be offered customers of the Massachusetts-based utility.  The program allows Boston Gas customers to automatically or proactively pay variable monthly bills through electronic debits to their bank accounts.

Based upon Princeton TeleCom’s Presentment Server technology, the new program gives Boston Gas customers complete control of the payment process; a pre-authorized payment can be initiated or canceled up until the date it is due.

Customers retrieve summary billing information and initiating payment instructions using electronic access capabilities.  Also available is an automatic feature, where customers simply set their payment option to automatic pay and the transaction will occur each month without further action required by the customer.

“Boston Gas is committed to providing the most advanced payment options available to offer convenience and cost savings for our customers,” explained John Connors, Group Leader of Revenue and Accounting at Boston Gas.  “With postal rates slated to increase early next year, our new electronic bill presentment and payment program offers our customers a valuable opportunity to shave costs while retaining complete control over the payment process. Customers also gain the added comfort of real time integration across access methods,” Connors said.

“Boston Gas has contracted with Princeton TeleCom for the most advanced suite of bill presentment and payment options available in the market today,” said Martha Davis, Senior Marketing Manager, Princeton TeleCom Corporation. “Using the advanced technologies, Princeton TeleCom assures Boston Gas customers secure access to their billing statements and complete security of payment instructions and information.”

About Princeton TeleCom

Founded in 1983, Princeton TeleCom is a leader in developing and operating electronic bill presentment and payment services for large corporate bill senders. The company’s core product, the “els” Electronic Lockbox Service(R), serves as a value-added clearing house for electronic bill payment processing, validating account numbers on consumer-initiated bill payments and routing those transactions directly to billers’ accounts receivables host systems. The “els” Electronic Lockbox Service(R) currently supports in excess of 700 national and large regional billers, including Lucent Technologies, Discover Card, Western Union and Edison International.

About Boston Gas

Boston Gas was established in 1822, and today is the largest distributor of natural gas in the New England states.  The company delivers natural gas energy to more than 525,000 residential, commercial and industrial customers in 74 communities throughout eastern and central Massachusetts.

Boston Gas is a wholly owned subsidiary of Eastern Enterprises (NYSE EFU), a Weston, Massachusetts-based holding company.  Eastern’s other major subsidiary, Midland Enterprises, Inc., is a leading barge operator on the nation’s inland waterways.

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Bital ATM Expansion

Mexico’s fastest growing bank, Grupo Financerio Bital, signed agreements yesterday to take delivery of 1,500 Fujitsu ‘Series 7000 Advanced Platform’ ATMs. Bital says it will install 600 ATMs in new bank branches. The remaining 900 ATMs will be deployed in off- premise locations including supermarkets, pharmacies, shopping centers and airports. As part of the agreement Bital will use the Fujitsu-ICL distribution system to install and control software and graphics from a central location. The Fujitsu solution will also enable Bital to sell video advertising on its ATMs. Yesterday’s deal will bring the total number of ATMs in Bital’s network to 2,175.

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Value-Checker Mondex Approved

Oki Advanced Products announced that it has received approval from Mondex International for Oki’s Value-Checker Personal Smart Card Readers to be used for the Mondex Electronic Purse Systems. With this approval, Oki’s smart card readers can now be used in the Mondex electronic cash system.

Mondex is the most “cash-like” of the electronic cash smart cards which are beginning to be introduced around the world as a more efficient alternative to physical cash; for use in everyday shopping and as a future payment mechanism in a wide variety of areas such as the Internet and “pay-per-view” television.

Oki said that banks and other customers can now choose from Oki’s full line of Value-Checker brand Mondex Readers, which include:

— Value-Checker KR (key ring) readers that are low in cost and allow users to read balance and transaction history on their Mondex cards;

— Value-Checker PLUS readers have a keypad to lock and unlock the Mondex cards and scroll through a transaction list;

— Two-card wallet systems to directly transfer funds from customers to retailers or from one individual to another.

“Making Commerce Convenient(R) is Oki’s goal,” said Gerry Vandenengel, Marketing Director for Oki Advanced Products. He added, “This line of products is an important step in that direction. Smart Card Electronic Purse Systems are transforming cash, and Oki is giving users the power to use that new cash to make their lives easier. Innovative design and engineering of very compact and reliable products also allows customers to carry their readers with them at all times.”

Oki has nearly five years experience with the Mondex system, and provided the first Electronic Wallets for the initial trial in Swindon in the United Kingdom. This proven experience was a factor in the approval process. In addition to the processes used in the Mondex system, Oki also provides on-line access through its Value-Checker PLUS with an optional connector to link with a personal computer to perform home ATM functions and other electronic commerce programs. Value-Checker PLUS software development kits are also available to support PC applications.

Mondex International grants licenses to franchisees to allow them to exploit the Mondex electronic cash technology in a given territory. Since its incorporation in 1996, Mondex has issued 29 licenses across five continents. Mondex is being developed by franchisees in over 50 countries representing a potential market place of in excess of three billion people.

Mondex is the only electronic cash system in the world to operate with a single global technology allowing for cross-border payments. It allows up to five different currencies to be carried on the card at any one time in separate electronic pockets.

Mondex is currently being used in 21 implementations around the world including Australia, Canada, Hong Kong, New Zealand, Philippines, the U.K. and U.S.A. By the end of 1997, Mondex International will have produced in excess of one million reloadable Mondex cards; this figure is expected to rise to five million reloadable cards by the end of 1998.

MasterCard International acquired 51% of the company in February 1997 and has decided to adopt Mondex International’s technology as its future choice of strategic chip platform. The following companies are also shareholders (directly or indirectly) in Mondex International: National Westminster Bank, Ulster Bank, Midland Bank, Scotiabank, Credit Union Central of Canada, The National Bank of Canada, Bank of Montreal, Canada Trust, Le Mouvement des caisses Desjardins, Toronto-Dominion Bank, Royal Bank of Canada, Canadian Imperial Bank of Commerce, The Hongkong and Shanghai Banking Corporation, Wells Fargo, AT&T, Chase Manhattan, First Chicago NBD, Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation (Australia), ANZ Banking Group (New Zealand), Bank of New Zealand, Countrywide Banking Corporation, The National Bank of New Zealand, ASB Bank and Westpac Banking Corporation (New Zealand).

The new H8/3109 customized smart card chip being used features an on-board crypto co-processor, and offers 8Kbytes of EEPROM and 14Kbytes of ROM allowing for high speed numerical calculations and the longer key lengths which are required for public key algorithms, such as RSA, DSA, Zero Knowledge and others.

Oki Advanced Products, headquartered in Marlborough, Massachusetts, develops and markets electronic commerce, smart card and banking products aimed at Making Commerce Convenient. Oki Advanced Products also manufactures digital wallet designs and smart card controller and terminal interface chips. Oki Advanced Products is a group of Oki America, Inc., headquartered in Hackensack, New Jersey, a wholly-owned subsidiary of Oki Electric Industry Co., Ltd., Japan’s first telecommunications manufacturer and a leading provider of products for the emerging global smart card market.

Further information can be obtained on the Internet for Oki at [www.oap.oki.com][1] and for Mondex at [www.mondex.com][2] and [www.mondexusa.com][3]

For more information please contact:

OKI ADVANCED PRODUCTS
Press:
Brian Dobson, Dobson Communications, Inc.
39 Mill Plain Road, Suite 5
Danbury, CT 06811 USA
T: (203) 790-6360
F: (203) 790-6292
E-mail: dobsonpr@eci.com

Business:
The Americas:
Fraser McNeilly, Oki Advanced Products
500 Nickerson Road
Marlborough, MA 01752 USA
T: (508) 460-8621
F: (508) 480-9635
E-mail: digitalmoney@oki.com
Web Site: www.oap.oki.com

European Liaison Office:
Joel Johnson, Oki Systems (Holland) b.v.
Kruisweg 765
2132 NG Hoofddorp NETHERLANDS
T: 31-20-653-45-80
F: 31-20-653-13-01
E-mail: joel@oki.com

MONDEX INTERNATIONAL:
Press:
Robin O’Kelly, Mondex International
T: 44 (0) 171 557 5036

[1]: http://www.oap.oki.com
[2]: http://www.mondex.com
[3]: http://www.mondexusa.com

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POS Terminal Projection

A new study released yesterday by Frost & Sullivan says the U.S. POS terminal market is at cross-road with industry players finding themselves adjusting to new smart card technology and a fresh breed of card applications. The market research study says the market is currently experiencing a compound annual growth rate of 7.5%. F&S projects market revenue will hit $2.3 billion by 2003, compared to $1.4 billion in 1996. The study covers two main subsets: electronic cash register terminal with card reader interfaces and electronic fund terminals.

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ATM Air Tickets

Bank of Hawaii will announce this morning it will begin dispensing flight coupons via ‘Bankoh Bank Machines’ on March 1. The program will enable ATM customers to purchase tickets for interisland travel aboard Hawaiian Airlines. Customers and non- customers of Bank of Hawaii will be able to buy the tickets by using either the ATM account or a VISA/MasterCard. Coupons will be good for one year and will sold in quantities of one, two, four or eight. Bank of Hawaii says it is awaiting regulatory approval for the new program.

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Drexler Lands Major Non-Gov Deal

Drexler Technology Corporation (NASDAQ:DRXR) today announced the receipt of a $900,000 purchase order for LaserCard optical memory cards, its largest non-government order for optical cards.

The optical cards are estimated to be delivered at a rate of about 25,000 cards per month within calendar year 1998.

The purchaser has been effective as a value-added reseller (VAR) of LaserCard(R) products by expanding the LaserCard usage of its existing customers and by adding new customers, leading to the achievement of this record-size order for a non-government application.

Drexler’s patented optical memory card is a recordable, credit-card size, data-storage device that offers multiple security safeguards and functions off-line or with computer networks.

LaserCard commercial applications include immigration cards, cargo manifests, access control cards, healthcare records, high security/interactive ID cards, automotive records, medical image storage, portable records with audit trails, and consumer transaction systems.

Headquartered in Mountain View, Drexler Technology Corporation manufactures 4-megabyte LaserCard(R) optical memory cards and “microchip ready” Smart/Optical(TM) cards. Drexler has been granted about 50 U.S. patents plus foreign counterpart patents on laser recording of data on thin-metal films, on laser-recordable optical memory cards, and on related systems and equipment. The company’s wholly owned subsidiary, LaserCard Systems Corporation, develops system software for PC-based optical memory card systems.

Forward-Looking Statements: Certain statements made above relating to plans, objectives, and economic performance go beyond historical information and may provide an indication of future results. To that extent, they are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and each is subject to factors that could cause actual results to differ from those in the forward-looking statement. Such factors are described in the company’s Report on Form 10-K and other documents filed by the company from time to time with the Securities and Exchange Commission.

For Drexler Technology news on the Internet: .

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