COLORADO SPRINGS, Colo., Dec. 1, 2009 (GLOBE NEWSWIRE) -- PSI Corp. (Pink Sheets:PSCP), operating as Pantel Systems, Inc., has signed a contract to install its multi-function kiosks, with strategic ATM services provided by MVMC, in Gristede's Inc, a premiere New York City chain of small supermarkets. The contract calls for the installation of 26 kiosks during the first quarter of 2010.
This is PSI Corp.'s first integrated venture with MVMC, a subsidiary of The Egan Group, a large security and money management company servicing over 8,000 ATM locations for banks, credit unions and ISO retail ATM providers throughout the tri-state region. MVMC strategic services include vault cash, armored car service, 24-hour help desk for customer support and installation services.
PSI's multi-function Pantel kiosks supplement traditional ATMs with multiple consumer point-of-purchase (POP) services, including advertising and coupon-dispensing. PSI has recently announced contracts to install its kiosks in several major supermarket chains, including Met Foods, D'Agostinos, Key Food, and the National Supermarkets Association, operating throughout New York City as well as New Jersey, Long Island, Westchester and Connecticut. In addition to providing traditional ATM services from MVMC, PSI's innovative Pantel multi-function kiosks can print on-demand coupons, redeem text-messaged and loyalty-card coupons, distribute long-distance phone cards and permit select bill-paying, serving consumers and measurably boosting purchases at the stores that carry the kiosks.
Eric Kash, CFO of PSI Corp., said, "We are delighted to move forward with MVMC, a strong regional company that is nationally recognized and locally valued. We anticipate many additional ventures in the future. Gristede's premier brand name and choice locations in New York City will continue to increase PSI's recognition among consumers and advertisers."
Bob Egan, President of The Egan Group and MVMC, stated, "The ability of MVMC to work in alliance with PSI allows MVMC to offer unique services to our traditional ATM customers. I believe this partnership will have a major impact on the kiosk and cash dispensing business. MVMC provides the all-important money management and security services, while PSI's Pantel kiosks attract new customers through their highly successful coupon redemption programs, visual ads and other popular consumer services."
About PSI Corp
PSI Corp. (PSI) (Pink Sheets:PSCP), operating as Pantel Systems, Inc., provides innovative interactive customer communications systems and applications that support targeted marketing programs with unique point-of-purchase (POP) services and information that serve shoppers and distributors and build loyalty and revenue for the Company's primary clients. Pantel Systems' Multi-Function Kiosks currently address two primary vertical markets: major Supermarket Chains and Convenience Stores, and Deep-Discount Retailers. For more information about PSI and Pantel Systems, please visit www.pantelsystems.com.
About The Egan Group and MVMC
Egan Group and its subsidiary MVMC are a large security and money management company servicing 8000 ATM locations for banks, credit unions and ISO retail ATM providers located throughout the tri-state and surrounding areas within the Northeast Region; MVMC services are complemented by a traditional armored service provider, Armored Money Services.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "hopes," "intends," "plans," "seeks," "will," and other terms with similar meaning, including, but not limited to, statements regarding the anticipation of many new ventures with The Egan Group and MVMC and the belief that this partnership will have a major impact on the kiosk and cash dispensing business. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.