Accesspoint Reports Positive Third Quarter and Nine Months Financial Results; Company Experiencing Increased Revenues and Reduced Losses.

Business Editors

IRVINE, Calif.--(BUSINESS WIRE)--Nov. 15, 2001

Accesspoint Corp. (OTCBB:ASAP) announced today financial results for the third quarter and nine months ended September 30, 2001, which reflect the Company's significant progress toward its goal of achieving cash flow profitability by year end.

The Company's revenue in the third quarter increased 168% to $1,690,498 as compared to $630,124 for the same period in 2000. Total revenue for the first nine months increased 113% to $3,595,409 as compared to $1,682,668 for the same period in 2000. Moreover, a key component of the Company's accelerating revenue growth, revenue from transaction settlement services, experienced a 1,012% increase between January and September of 2001. The Company has already surpassed $150 million in total transaction volume year to date.

Since the launch of the Company's transaction processing operations and its focus on the development of its electronic payment and transaction settlement infrastructure, the Company has benefited from a trend toward increasing revenue and decreasing net losses, which have been the catalyst in providing momentum for Company's goal to achieve cash flow profitability prior to the end of the Company's fourth quarter. The Company continues to benefit from its cost cutting and automation initiatives as reflected in the reduction of its net loss from operations, which decreased 43% in the third quarter to $541,757 as compared to $961,400 in the second quarter, and a decrease of over 54% as compared to $1,185,943 in the first quarter of 2001.

"The results and opportunities that are beginning to emerge today are what we foresaw as a basis for the changes we made in Accesspoint's business structure as we mapped our plan for driving this Company towards profitability," stated Tom Djokovich, Chairman and Chief Executive Officer of Accesspoint. "We provide businesses with improved transaction liquidity and reductions in business costs at the point of sale and that is something that businesses need and understand."

Mr. Djokovich also stated that Accesspoint believes that the market opportunities for the Company's services will continue to grow and that the Company is continuing its efforts to expand its sales channel and develop new product and service offerings so that Accesspoint can continue to capitalize on this multi-billion dollar market opportunity.

About Accesspoint

Accesspoint Corporation is a leading developer and provider of electronic payment processing solutions for merchants. The Company's managed transaction banking and payment technologies enhance merchant performance by improving transaction liquidity and reducing business costs at the point of sale -- the accesspoint through which all commerce flows.

Accesspoint's core electronic payment processing solutions provide merchant underwriting and risk management and support the network and technology services necessary to capture, route, authorize, and settle all types of non-cash payment transactions at both retail and Internet point of sale locations for more than 8,500 retailers and businesses nationwide.

As part of the Company's core-processing infrastructure, Accesspoint has established important strategic relationships with partners such as Chase Manhattan Bank, First Data Corp., First National Bank of Omaha and Hypercom Corporation.

This news release contains forward-looking statements regarding Accesspoint's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital until the company can fund itself directly from operations, its ability to expand its ISO network and its ability to attract additional customers. The forward-looking statements contained in this news release speak only as of the date hereof and Accesspoint disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Accesspoint's expectations or future events.