DUBLIN, Ireland and DALLAS, Oct. 3, 2005 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that Cineplex Entertainment ("Cineplex") (TSX:CGX.UN) has extended its use of Trintech's ReconNET to reconcile its cash accounts and identify and resolve exceptions more efficiently. The ReconNET system will provide Cineplex with a sound foundation for managing operational risk across its enterprise and reduce the potential for cash loss.
Cineplex owns, operates or has an interest in 130 theatres with 1,267 screens in Canada (after giving effect to the 7 theatres and 80 screens to be divested pursuant to a consent agreement with the Canadian Commissioner of Competition). The largest film exhibition company in Canada, Cineplex operates theatres under the Cineplex Odeon, Colossus, Coliseum, Galaxy and SilverCity brands.
"We had success with the ReconNET system in the past, so it made sense for us to extend our use of the system throughout our expanded theatre circuit. Eighty-percent of our business is cash-based; therefore, it's important to have a solution in place that rapidly discovers cash discrepancies to prevent loss due to error or fraud, as well as one that improves period-end balancing and reporting," said Jeffrey Kent, Chief Technology Officer, Cineplex Entertainment. "Trintech's team of professional consultants worked closely with us to expand our existing system. We were up-and-running in less than a week."
Cineplex also expects to gain benefits from ReconNET's missing item reporting, exception reporting and late deposit reporting capabilities. Senior managers will be able to quickly know when cash has made it into the bank. If discrepancies become apparent, managers can immediately act on them to prevent loss due to error or fraud.
"We are pleased that Cineplex has expanded its use of ReconNET to reduce exposure to risk and improve overall exception management," said John Harte, General Manager of Trintech's Funds Management Systems Division. "Cineplex joins other prestigious theatre chain clients, including Regal Entertainment Group and Loews Cineplex Entertainment Group, that have selected Trintech for its products, skill and experience in this market."
About Cineplex Entertainment
Cineplex Entertainment owns, operates or has an interest in 130 theatres with 1,267 screens (after giving effect to the 7 theatres and 80 screens to be divested pursuant to a consent agreement with the Canadian Commissioner of Competition) and is the largest motion picture exhibitor in Canada. Headquartered in Toronto, Canada, the company operates theatres with the following five top-tier brands: Cineplex Odeon, Coliseum, Colossus, Galaxy and SilverCity. Proudly Canadian, Cineplex Galaxy Income Fund, which owns approximately 50.5% of Cineplex Entertainment, is a public company traded on the Toronto Stock Exchange under Cineplex Galaxy Income Fund (symbol CGX.UN). More information can be found at www.cineplex.com or at www.famousplayers.ca.
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions that optimize enterprise funds management including the ReconNET reconciliation software suite, Bank Fee Analysis, and the DataFlow Transaction Network. Trintech's FMS solutions are optimizing performance in nearly 400 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, Foot Locker, Radio Shack, 7-Eleven, Whitbread Group, Verizon Wireless, Kroger, Regal Entertainment, Budget Rent A Car, Wendy's, Farmer's Insurance Group, and the University of Missouri. Trintech FMS is headquartered in Dallas, Texas, and can be contacted at 972-701-9802 and on the web at www.trintech.com/fms.
About Trintech
Trintech is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 18 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation -- enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the U.S. at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the U.K. at The Colonnades, Beaconsfield Close, Hatfield, Hertfordshire, AL10 8YD (Tel: +44 1707 632900). www.trintech.com