TORONTO, Feb. 27, 2006 (PRIMEZONE) -- ActiveCore Technologies, Inc. (OTCBB:ATVE), a company that operates a group of subsidiaries and divisions in the U.S., Canada and the U.K. that offer a Smart Enterprise Suite of products, is pleased to announce that ePocket, a company in which ActiveCore holds an equity stake, has scheduled an integration and installation planning session to be held in Europe during the first two weeks in March 2006. This session will bring together representatives of both companies to define a schedule for installing the ePocket electronic payment system into the RAHAXI Processing Oy Network. Once the details of the integration project have been finalized, the companies plan to complete the next step of their strategic partnership by March 31, 2006, which is the negotiation of a definitive revenue sharing contract.
During the months of May and June, ePocket will send a Project Implementation team to Europe to begin the integration of the ePocket electronic payment system into the RAHAXI Processing system. Initially, ePocket and RAHAXI Processing will select a controlled group of clients, including regional banks, financial institutions and online merchants, to integrate ePocket into their existing account management systems.
As a second phase of this project, ePocket plans to work with RAHAXI to implement the coin based payment system at a preferred online gaming/gambling merchant. Given both the size and complexity of this undertaking it is anticipated that the project will span 4-5 months and should be completed in the Sept/Oct 2006 timeframe.
ePocket is a developer of breakthrough patented micro-payment technology and is an acknowledged leader in producing software technologies and payment networks that will allow payments of electronic cash over the Web in a cost-effective manner without the use of credit cards. The ePocket Suite of products supports both "electronic coins" and account-based payment solutions. The suite can be used as a stand-alone "ePayment" method or in partnership with other ePocket clients to form a wider network of acceptance via a shared customer and shared merchant association -- thus producing an expanded marketplace.
The ePocket payment system makes it possible for customers to pay for transactions by depositing cash or an amount charged to a credit or debit card in a receiving institution. Using cash to pay for a transaction preserves the privacy and identity of the payer. For ePocket payments, the merchant will benefit from real-time settlement, lower transaction fees and guaranteed funds.
ActiveCore currently holds an equity position of 4.7 percent in ePocket, which it expects to increase in value as the ePocket product rollout begins to gain traction.
Peter Hamilton, ActiveCore CEO and ePocket Chairman stated, "This is a very exciting time for everyone associated with ePocket as deployment of the revolutionary ePocket technology is now imminent." Mr. Hamilton went on to say, "We could not have asked for a better strategic partner than RAHAXI Processing for the initial ePocket installation as they are a leading payment processor in Northern Europe with a great reputation and years of experience in this Industry. I expect our relationship with RAHAXI Processing will provide ePocket with great opportunities in Europe that it will be able to leverage in other territories which should create increased shareholder value within ePocket."
This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit ActiveCore IR Hub located at http://www.Agoracom.com/IR/ActiveCore. Alternatively, investors can e-mail AGORA Investor Relations directly at ATVE@Agoracom.com
About ePocket Inc.
ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. ePocket payments cost merchants less than any other payment technologies. Their extraordinary cost effectiveness enables merchants to profitably accept very small payments of just one or two dollars. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.
About Freestar Technology Corp.
(www.FreeStarTech.com) (www.RAHAXI.com)
FreeStar Technology Corporation (OTCBB:FSRT) is a payment processing company. Its wholly owned subsidiary Rahaxi Processing Oy, based in Helsinki, is a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1.3 million card payments per month for such companies as Finnair, Ikea, and Stockman. FreeStar is focused on exploiting a first-to- market advantage for its Enhanced Transactional Secure Software (ETSS), which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN), electronic cash or smart cards. The company, based in Dublin, maintains satellite offices in Helsinki, Santo Domingo, Dominican Republic, and Geneva. For more information, please visit FreeStar's websites at http://www.freestartech.com, http://www.rahaxi.com
About ActiveCore Technologies, Inc.
ActiveCore Technologies, Inc., operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. The Systems Integration & Modernization Division of ActiveCore operates under the trade names of CRATOS and MDI Solutions. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus and ActiveCast. ActiveCore services clients in health care, financial services, government and manufacturing worldwide.
Statements contained in this news release regarding ActiveCore Technologies, Inc. formerly IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.