LODI, Calif., July 12, 2005 (PRIMEZONE) -- PayStar InfoStations, Inc., a PayStar Corp. (Pink Sheets:PYST) division is pleased to announce it has signed an letter of intent for a joint venture with SMO Multimedia Corp., a subsidiary of Strategic Management & Opportunity Corp. (Pink Sheets:SMPP) to unite the creative efforts of both kiosk companies and jointly market the multiple products and services offered by both parent companies. Terms of the agreement afford for the immediate funding by PayStar to SMO Multimedia supporting the current expansion and deployment of its U.S. Military AAFES Photo kiosk project. This contract (announced May 16, 2005 by SMPP.PK) calls for the deployment of 118 of the companies technologically enhanced photo kiosk units into 115 military installations (www.ezpixkiosk.com). PayStar will receive a fifty percent (50%) interest in this military project.
Strategic Mgmt. will provide PayStar with favored nation pricing on all services, including its Network Operation Center (NOC) Services, Digital Advertising network and nationwide Kiosk installation services. Both companies will immediately begin marketing each other's technologies to their current customer bases. Initial photo kiosk deployments have begun all over the country and the definitive agreement is expected to be finalized by July 30, 2005. The five-year military contract is valued at approximately $24,000,000.00 US.
"Paramount to the success of both companies kiosk business models is critical alignments with synergistic companies that are making a difference today in the kiosk industry," stated Robert J. Pratt, CEO and Chairman of Strategic Management & Opportunity Corp. Mr. Pratt continued, "The foundation is now in place that will allow both of our companies to leverage each others technical and creative strengths and build a powerful alliance; we are proud to be PayStar's newest kiosk partner."
"Strategic Management has proven their best-of-breed technologies in the Digital Photo kiosk industry with this recent award of this military contract," commented W. D. Yotty, Chairman and CEO of PayStar. "PayStar is pleased to have joined with SMO Multimedia in facilitating the funding of this major photo kiosk roll-out and we look forward to several more joint kiosk opportunities in the near future."
About PayStar
PayStar Corporation (www.paystar.com) provides its distributors and clients with a suite of prepaid, stored value products, Kiosk marketing and management. PayStar's GLOBALCash, Inc. (www.globalcash.us) distributes prepaid ATM debit and stored value cards that can be used just like regular credit cards. Prepaid ATM debit cards can be used everywhere major credit cards are accepted (stores, restaurants, theaters) and online. PayStar's corporate and distributor sales, as well as mergers and acquisitions, will continue to drive growth.
Legal Notice Regarding Forward-Looking Statements: 'Forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected by management. These statements are only predictions and may differ materially from actual future results or events. PayStar disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.