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- VENDTEK'S SUBSIDIARY NOW PREPAY ENTERS INTO NEW AGREEMENT WITH PIONEER PETROLEUMS

April 10 2006 - VendTek Systems Inc. (TSXV: VSI) ("VendTek" or "The Company"), a leading provider of software for prepaid service distribution, is pleased to announce that its wholly owned subsidiary Now Prepay Corp. ("Now Prepay") has entered into a new agreement with Pioneer Petroleums ("Pioneer") based in Burlington, Ontario to implement Point-of-Sale Activation ("POSA") terminals to allow for activation of prepaid cards by swiping them through the POS terminals.

The new software allows for simple real-time activation of cards by swiping the card through the POSA terminal; it allows physical cards to be sold through the eFresh™ system along with virtual products. It will also allow Now Prepay to add other swipe activated products as they become available.

Now Prepay is working with Bell Canada to deliver a set of prepaid long distance products that can be activated at Pioneer Petroleum Snack Express sites.

Pioneer has 150 locations throughout Ontario and initially 88 Snack Express stores will have the POS activation terminals. Together, Now Prepay and Bell Distribution Inc will be providing terminals, new products and merchandising display units with a view to increasing per store sales.

Now Prepay President, Doug Buchanan commented, "This is a significant addition to our product offering as it creates an opportunity for increased revenues from prepaid long distance products. The concept can be applied to other products which will follow in the future."

For more information please contact Samantha Haynes at 604.805.4653 or 1.800.806.4958 or shaynes@vendteksys.com.

About VendTek and Now Prepay

VendTek develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. 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 by completely eliminating physical cards and vouchers. For further information please visit the Company's websites www.vendteksys.com and www.nowprepay.com.

About Pioneer Petroleum

Based in Burlington, Ontario, Pioneer Petroleum (www.pioneer.ca) is Ontario's largest independent gasoline retailer. For further information, contact the company directly at 905-639-2060.

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


 
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