NEW YORK CITY, July 13, 2005 (PRIMEZONE) -- Acies Corporation (OTCBB:ACIE), a financial services company specializing in payment processing and online banking services to small, medium and large-size merchants, announced today that its Chief Financial Officer, Jeffrey A. Tischler, was interviewed earlier this week by Wall Street Reporter, a 162 year-old magazine and Internet publishing company. Mr. Tischler discussed the company's history, the latest developments in marketing and technology, and its growth plan and strategy in an audio interview that is available until Tuesday, July 19, at http://www.wallstreetreporter.com/profiles/AciesCorporation.html.
In highlighting Acies Corp.'s brief but successful history, Mr. Tischler, who recently joined Acies, said that "Oleg Firer, the CEO of Acies, had a vision as to what a company can do in this space, and he has formed and led a team that has been making it happen." The interviewer, Sunit Kumar, asked about Acies Corp.'s growth, given that the company recently reported revenues for fiscal 2005 which more than tripled compared to the prior year, to which Tischler responded, "This is still only the beginning. We consider ourselves to be in the nascent stages of our development, with a lot of room for growth and profitability down the road." In noting that Acies has minimized its risk and built an efficient, scalable infrastructure, Tischler also said that Acies has "struck the right balance between aggressive yet controlled growth, establishing ourselves and penetrating the marketplace, while building a strong foundation which will serve as a springboard for continued future growth and profitability."
Commenting on the trends taking place in the electronic payment processing industry, including the growing prevalence of credit and debit card usage, Mr. Tischler said, "The growth of our business is fueled by the number of electronic transactions, as well as the dollar volume of the transactions at the merchants who comprise our customer base and target market." At the conclusion of responding to a question regarding why investors should consider adding Acies to their portfolios, Tischler summarized by saying that "Our Number One goal is to create long-term value for our shareholders, and all of us at Acies share in that goal."
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.