News from the Wire

Pay By Touch Announces Chief Financial Officer

Monday, April 25, 2005 — 12:53:58 (EDT)

SAN FRANCISCO - April 25, 2005 — Pay By Touch today announced that Davies B. Beller has joined the company as Executive Vice President, Chief Financial Officer. Beller, who has been a member of the Pay By Touch Board of Directors since early 2004, will remain active on the Board as he moves into this new role with Pay By Touch, effective immediately.%%N%%N"We've spent the past several months looking for someone who embodies the Pay By Touch vision and culture, as well as solid knowledge of the payment processing industry," said John Rogers, founder, chairman, and CEO of Pay By Touch. "Davies is an excellent fit. His vast industry knowledge and extensive experience in taking companies public will be invaluable for Pay By Touch."%%N%%NBeller has been an investment banker for the past 17 years, the last 11 of which was at Bear Stearns, where he was responsible for managing Bear Stearns' Information Technology/ Services Investment Banking practice. Under Beller's leadership, Bear Stearns was among the most active financial advisors to leading companies in the payment services and financial institution technology industries.%%N%%N"Pay By Touch is one of the industry's most exciting, innovative companies, and I'm looking forward to the many growth opportunities we have throughout the next several years," Beller said. "Biometric payments are right on the cusp of a national shift toward a safer, more cost-effective way to pay, and Pay By Touch is paving the way for some major changes for both consumers and retailers."%%N%%NBeller is an active member of the Napa Valley Reserve and a board member for CoachArt, a non-profit organization that facilitates free lessons in the arts and athletics for underprivileged, chronically ill children. He is also a member of the President's Leadership Council at Dartmouth College.%%N%%NA member of the California Bar Association, Beller earned his juris doctorate from Stanford University Law School, while simultaneously completing an MBA from Stanford. He received his undergraduate degree in Government and Economics from Dartmouth College.%%N%%NTo date, the Pay By Touch consumer biometric payment solution is being deployed in Piggly Wiggly Carolina Co. stores throughout The Carolinas and Georgia as well as in other retailers throughout North America. Pay By Touch plans to launch in major national retail chains later this year.%%N%%NAbout Pay By Touch%%NPay By Touch is a consumer biometric payment service free to consumers that allows shoppers to quickly and securely pay for purchases or cash checks using a finger scan linked to their personal identification information, financial accounts, and loyalty programs. The privately held company offers retailers a complete payment solution, including front-end biometric authentication and age verification, to back-end ACH and credit card and debit card payment processing. Pay By Touch has more than two-dozen U.S. issued patents covering token-less biometric transactions. For additional information, visit www.paybytouch.com.%%N%%NSource: Company Press Release

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Source: Company press release.