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February 13, 2006 -VendTek Systems Inc. (TSX-V:
VSI) ("VendTek" or "The Company"),
a leading provider of software for prepaid service distribution,
announces that its customer in China, Shanghai Ehesh
Network Technology Co. Ltd. ("Ehesh"), has
launched its Point Of Sale ("POS") terminal
distribution of prepaid products using VendTek's eFresh™
software.
On September 28, 2005 Ehesh launched its web based prepaid
product distribution and this POS based distribution
launch is the next step for Ehesh in their ongoing deployment
strategy. All of Ehesh's distribution is backed by VendTek's
eFresh technology which VendTek provides to Ehesh in
return for ongoing transaction fees based on the revenues
of product sold through the system.
Paul Brock, president of VendTek said, "Ehesh has
been moving forward very deliberately to expand their
prepaid distribution business; they are launching the
POS terminal distribution to complement their web based
service launched five months ago. Ehesh has ambitious
plans for growth of their business in China and VendTek
is fully committed to being their software solution provider
for the electronic distribution".
For further information, please contact Samantha Haynes
at 604.805.4653 or 1-800-806-4958 or shaynes@vendteksys.com
About VendTek and Now Prepay (
www.vendteksys.com / www.nowprepay.com)
VendTek Systems Inc. develops and licenses eFresh™
software and related technologies, which provide electronic
distribution of prepaid telecommunication and financial
services. VendTek is commercializing the eFresh™
software under license to create sustainable and recurring
revenues. VendTek's customers and its subsidiaries,
Now Prepay Corp. (in Canada) and VendTek Systems Technologies
(in China), are using eFresh™
software to build electronic, prepaid services networks,
which enable consumers to purchase prepaid services
via POS and self-serve terminals connected to a central
eFresh™
server. This system creates significant value through
improved efficiencies compared to the traditional distribution
paradigm. eFresh™
reduces shrinkage and inventory requirements while improving
consumer access to prepaid services since it is completely
electronic and eliminates physical cards and vouchers.
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The TSX Venture Exchange has
not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
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