Morgan Beaumont Licenses Card Loading Software and Technology to Transaction Management

Under the Contract, Morgan Beaumont will supply POS debit card load software, and access to the retail load locations, which will allow Transaction Management and Security Bank to expand their national bill payment platform of 600 merchant locations to an expected 3,000 in 2005. In addition, debit card loads through Security Banks EmpaSys system are instant, allowing immediate use of cash to customers without the industry traditional 2-3 day delay in accessing funds. This arrangement is significant to Morgan Beaumont because the instant cash access feature will increase consumer satisfaction and convenience, further solidifying Morgan Beaumonts position as a premier provider of Debit cards in the US. The combination of instant debit card loading and bill payment services provides the consumer with instant gratification and builds long-term loyalty. Merchants will also benefit from the added ability to offer bill-paying services in addition to card loading across Morgan Beaumonts national POP network. Morgan Beaumonts platform also provides banks with Patriot Act Compliance at the retail level. With an estimated 33 million unbanked and underbanked US citizens seeking alternative financial products, the market for Morgans platform appears poised for tremendous growth. Morgan Beaumonts management team estimates that each card in its system is worth $36-$120 per year in recurring revenue, while each POP location is worth approximately $1,500 per year in recurring revenue. As announced in its September 7, 2004 press release Morgan Beaumont currently has 16,000 load locations. The company is on target to exceed its 2004 projections of 20,000 load locations nationwide and has current signed agreements in place that should allow the company to hit its goal of 100,000 locations in 2005. The company has also set a target of having approximately 3 million cards accessing these locations by end of 2005.