News from the Wire

Pay By Touch Names Three New Board Members

Wednesday, May 04, 2005 — 13:45:18 (EDT)

SAN FRANCISCO, May 4 /PRNewswire/ -- Leading consumer biometric payments%%Ncompany Pay By Touch recently announced the addition of three members to its%%Nboard of directors: Jack Penrod, Arthur J. Petrie, and Roy Speer. Each new%%Nmember brings to Pay By Touch a high level of experience in corporate and%%Nentrepreneurial governance.%%N %%N"We're delighted to welcome our newest board members and tap into their%%Nexperience and knowledge to continue company expansion," said John Rogers,%%Nfounder, chairman, and CEO of Pay By Touch. "Each new member comes to us with%%Na specific area of expertise that will generate positive exposure and growth%%Nof the Pay By Touch biometric technology and payment processing services."%%N %%NPenrod, Petrie, and Speer will join the company's other six board members,%%Nincluding John Rogers, Eula Adams, Davies B. Beller, Alex Hern, Brian Miller,%%Nand Craig Ramsey, effective immediately.%%N%%NJack Penrod%%NJack Penrod is best known for his ability to transform investment%%Noperations into global business ventures that scale to meet the demands of%%Ngrowing communities. Penrod began his investment career in 1983 with Penrod's%%NBeach Club in Ft. Lauderdale, Fla., and has since expanded the spring break%%Nhot spot with additional properties including The Elbo Room, Bahama Mama, and%%Nthe Jolly Roger Hotel. More recently, Penrod opened a second Penrod's Beach%%NClub in South Beach, Miami, as well as Nikki Beach and Pearl Restaurant and%%NChampagne Lounge. Today, Penrod has expanded Nikki Beach with locations in%%NFrance, the West Indies, Italy, Spain, Mexico, and Brazil.%%N%%NArthur J. Petrie%%NArthur J. Petrie brings more than 45 years of real estate development and%%Ninvestment experience to the Pay By Touch board of directors. He is chairman%%Nof Petrie Development Company and general manager of Asset Development%%NServices, LLC, a real estate investment company in Las Vegas. Career%%Nhighlights include commercial real estate development deals with Wal-Mart,%%NSam's Club, K-Mart, Hy-Vee, and other retail users and apartment complexes.%%NHis companies are also active in managing the development and ownership of%%NEmbassy Suites, Hampton Inns, Holiday Inns, Radissons, and Hyatt Hotels. He%%Nserved on the Board of Directors of Smart Card of America and was the former%%NChairman of the Board of Directors of the World Trade Center of Minnesota.%%N%%NRoy Speer%%NA self-made entrepreneur and successful businessman, Roy Speer joins the%%NPay By Touch board with extensive experience as a business expert, investor,%%Nand entrepreneur in real estate development and commercial and residential%%Nconstruction. Career highlights include Speer's ten-year career as the%%Nfounder, chairman, and CEO of Home Shopping Network. While there, Speer grew%%Nthe company from $1.9 million to $1.08 billion in sales to become the 12th%%Nlargest communications company in the United States. Prior to joining Home%%NShopping Network, Speer spent seven years working with the Florida Attorney%%NGeneral as Special Assistant Attorney General, Assistant Trial Staff Counsel%%Nfor the U.S. Labor Relations Board, and the Assistant State Attorney of%%NPinellas County, Fla. Speer's career continued with several real estate%%Ndevelopment ventures and commercial and residential construction, including%%Noffice buildings, high rises, shopping centers, and more than 10,000 homes.%%N%%NThe Pay By Touch Board of Directors will continue regular meetings with%%Nthe new members, focusing heavily on expanding its core offering of consumer%%Nbiometric payments and payment processing to retailers across the United%%NStates and abroad. In addition, the Board will concentrate on developing%%Nproducts that meet the needs of new vertical markets.%%N %%NTo date, the Pay By Touch consumer biometric payment solution is being%%Ndeployed in Piggly Wiggly Carolina Co. stores in South Carolina and Georgia as%%Nwell as in other retailers throughout North America. Pay By Touch plans to%%Nlaunch in major national retail chains later this year.%%N%%NAbout Pay By Touch%%NPay By Touch is a biometric payment service free to consumers that allows%%Nshoppers to quickly and securely pay for purchases or cash checks using a%%Nfinger scan linked to their personal identification information, financial%%Naccounts, and loyalty programs. The privately-held company offers retailers a%%Ncomplete payment solution, from front-end biometric authentication, age%%Nverification, and check cashing to back-end payment processing for ACH, debit%%Ncard, and credit card transactions. Pay By Touch has more than two-dozen U.S.%%Nissued patents covering biometric transactions. For additional information,%%Nvisit www.paybytouch.com.%%N%%NSource: Company Press Release

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Source: Company press release.