NEW YORK, Feb. 22, 2005 (PRIMEZONE) -- Barrow Street Research Director John D. Attalienti today followed up on the firm's initiating coverage last week of Acies Corporation (OTCBB:ACIE) in an interview broadcast over World Talk Radio Network. Acies is an emerging leader in payment processing and electronic banking services to small- and medium-size merchants across the United States The interview, conducted by research analyst Francis Gaskins of IPOdesktop.com, is available for review at http://www.worldtalkradio.com/archive.asp?aid=3447 .
During the interview, Attalienti, who heads the pioneering online research firm, reports on the importance he places on a company's management, and points out that in his opinion the senior management of Acies is extremely well qualified to execute the company's business plan.
He indicates another reason he is particularly impressed with the strategic direction of Acies is its focus on serving an underdog market -- small- and medium-size businesses poorly served by Acies' competition -- the neglected but fastest growing segment of the economy.
The research director said he always pays special attention to micro-cap companies trying to develop a niche marketplace, and he believes Acies is doing that job admirably, helped along by its strong relationships with firms such as JPMorgan Chase and Paymentech. He stresses that such relationships lend a high degree of credibility to the continued growth of Acies, especially given the validation of these important and impressive alliances.
Attalienti expects the company to grow organically and through acquisitions, and said the recent institutional investment in Acies of more than $1 million, with access to an additional $2 million more, is, to him, the lifeblood of the company and strong evidence that the company will be able to more forward with its business plan and has a bright future.
The research analyst said the culmination of all these investment appeals prompted him to initiate coverage of Acies with a buy rating, and an anticipated 12-18 month valuation of $2 per share.
A full copy of the report is available at http://www.barrowstreet.com.
About Acies Corporation
Acies, Inc. ("Acies"), a wholly owned subsidiary of Acies Corporation (OTCBB:ACIE), is a financial services company that specializes in payment processing services and online banking services to small, medium, and large-size merchants across the United States. Acies' payment processing services enable merchants to process Credit, Debit, Electronic Benefit Transfer (EBT), Check Conversion, and Gift & Loyalty transactions. Acies also offers traditional and next-generation point-of-sale (POS) terminals, which enable merchants to utilize Acies' payment processing services. Acies' banking services offer customers traditional banking services, ability for customers to apply for an on-line bank account and pay bills electronically.
For more information, visit http://www.aciesinc.com .
Forward-looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.