SAN FRANCISCO, April 5, 2006 (PRIMEZONE) -- friendlyway Corporation (OTCBB:FDWY), a provider of customer-facing self-service public access systems, today announced that it has entered into a Letter of Intent to purchase all of the capital stock of Pantel Systems, Inc., a privately held company located in Colorado Springs, Colorado. Included in the purchase are exclusive rights to market and sell Pantel's e-Banking kiosk. The e-Banking kiosk comes standard with the ability to process money transfers, cash dispensing, debit card dispensing and reloading, as well as bill payment. Pantel's system is ideally suited for the growing self-service sector for customers that do not have an existing banking relationship. The proliferation and attraction of these e-Banking systems as mentioned in the New York Times on April 1, 2006, is based on convenience and these machines, according to many retailers, are expected to become standard in stores of all sizes.
Alexander von Welczeck, Chief Executive Officer of friendlyway stated, "We are extremely pleased to add Pantel to our portfolio of self-service solutions. More importantly, Pantel's business model provides for a recurring revenue stream via transaction-based revenue from the e-Banking kiosks."
About friendlyway Corporation:
friendlyway Corporation provides self-service systems and technologies for public access at points of sale, service, and information. Its interactive information stations are used in various applications, such as ticketing, Internet access, self check-in, way-finding, lead management, e-commerce, banking, lobby management, and access control, as well as information and education. The company serves trade shows, conferences, events and promotions, hospitality, tourism and travel, healthcare and hospitals, financial services and banking, government, and fashion and retail sectors. friendlyway markets its products and services in the United States, Europe, and Asia through sales and marketing campaigns, conferences, one-on-one consultations, telemarketing, direct sales, and client and vendor referrals. More information please visit: www.friendlywayinc.com.
About Pantel Systems, Inc.:
Pantel Systems is a full service kiosk company that specializes in the placement and management of self-service kiosks throughout the country. The kiosks follow a "general store" concept with multiple functions and profit centers. The e-Banking kiosk comes standard with the ability to process money orders, money transfers, cash dispensing, debit card dispensing and reloading, as well as bill payment.
This release includes projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934 as amended. All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although the management of friendlyway Corporation believes that the expectations reflected in these forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in friendlyway's filings with the Securities and Exchange Commission.