FOR IMMEDIATE RELEASE
Electronic Payment & Transfer Completes Private Placement Offering
Private Placement Proceeds to Fund EasyGreen Pay Card™ Expansion
PONTE VEDRA, Fla., February 25, 2006 -- Electronic Payment & Transfer Corp,
a rapidly growing independent payment processing company, announced the successful closing of a
private placement offering. The company intends to use the proceeds for business expansion and for
the ongoing development of its certified, web-based card management platform.
The terms of the private placement guarantee a second-round of financing from investors in 2007.
The proceeds from the first- and second-round private placement are expected to provide adequate funding
to expand business operations while enabling the company to deliver state-of-the-art payroll card management
and transaction processing services to clients.
Steve Graham, President and CEO of Electronic Payment & Transfer Corp, said "We appreciate the financial support
from investors and their vote of confidence in our card products, technology platform, and strategy to become a
leading issuer of pay cards in the U.S."
About
Electronic Payment & Transfer Corp
Electronic Payment & Transfer Corp is a rapidly growing payment processing company for financial institutions in the U.S. The company provides turnkey and private-label ATM/POS transaction processing, card management, money transfer, and settlement services. For more information about the company, please visit www.eptransfer.com. Certain
statements contained in this press release, including statements
regarding events and financial trends that may affect our future
operating results, financial position and cash flows, may constitute
"forward-looking statements" within the meaning of federal
securities laws. These certain statements are based on our
assumptions and estimates and are subject to risks and
uncertainties. You can identify these forward-looking statements by
the words like "strategy," "expects,"
"plans," "believes," "will,"
"estimates," "intends," "projects,"
"goals," "targets," and other words of similar
meaning. You can also identify them by the fact that they do not
relate strictly to historical trends or current facts. For these
statements, we claim protection of the safe harbor for
forward-looking statements provided by the Private Securities
Litigation Reform Act of 1995.
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