LAS VEGAS and FRESNO, Calif., Feb. 17, 2005 (PRIMEZONE) -- CEO America, Inc. (Pink Sheets:CEOA), is pleased to announce that it has signed an exclusive three-year Joint Affinity and Payment Processing Sales Agreement with Scrip Advantage Inc., of Fresno, California.
The Agreement includes a joint marketing effort for the MyCommunity Program and the MyCommunity affinity card produced by CREDITZ, the developer and exclusive master licensee of the world's first truly portable digital currency. The MyCommunity Program provides non-profit organizations additional revenue streams in conjunction with the successful Scrip Advantage affinity programs already deployed across the United States.
David Vaters, President and Chairman of CEO America, Inc., stated, "We have worked with Scrip Advantage for over a year to develop a compelling program that will insure a win-win-win situation for merchants, non-profits and their supporters." Vaters added, "Scrip Advantage is a leader in assisting non-profit organizations to generate incremental fundraising revenues in innovative ways and was our first and only choice as a partner to roll-out the MyCommunity Program."
The MyCommunity Program has already begun with schools and charities in Kentucky, Wisconsin, Louisiana, Texas and California, and will ramp up throughout the United States this year. Both CEO America and Scrip Advantage believe that tens of millions of dollars can be seamlessly down-streamed to participating charitable organizations over the coming years. Based on projections, the contract is estimated to generate in excess of $5 million dollars in revenue to CEO America and Scrip Advantage over the three-year term of the Agreement.
John Coyle, CEO of Scrip Advantage, added that, "Teaming with CEO America will assist us in providing solutions that enable our non-profit clients to accept credit, debit and CREDITZ account cards for purchasing scrip, which will generate tremendous growth within their fundraising programs. Our non-profit organizations can give back to their supporters by providing them with the ability to earn CREDITZ and/or other benefits, while supporting their charities!"
About CEO America, Inc.
CEO America, Inc., Las Vegas, NV and Beverly Hills, CA., is the exclusive master licensee for the United States of the CREDITZ System. The CREDITZ System is a revolutionary business model that provides enhanced payment, business intelligence and marketing solutions to retailers, e-tailers, manufacturers, and stored value, loyalty and gift card programs, and to the payment industry. The company works synergistically with point-of-sale and payment terminal manufacturers, merchant services providers, independent sales organizations (ISO's), transaction processors, and credit and debit card issuers. CREDITZ is the first sub-micro payment system that exchanges currency from consumer to merchant, merchant to consumer, manufacturer to consumer, and consumer to consumer in retail stores, via online, or through cellular phones, including payments of less than one cent.
About Scrip Advantage
Scrip Advantage, Inc., (SAI) of Fresno, CA. is a business-to-business direct marketing company, specializing in the issuance of "scrip" or Gift Cards/Gift Certificates for over 300 of the largest, most respected merchants and service providers in the United States. SAI purchases the gift cards and certificates from the merchants at a discount from face value, resells them to community based non-profit organizations (NPO's), who in turn sell them to their members and supporters at face value, generating substantial fundraising revenue for the non-profit organization. Established in 1999, Scrip Advantage has grown to $180 million in sales and is one of the fastest growing gift card marketing companies in the United States. Based in Fresno, CA, the 12,000 square foot facility houses all aspects of operations, marketing and distribution,, and employs approximately 70 people.