Adds Next-Generation "Smart Card" Capability: NCR/Intellect/CFI ProServices Team Wins Multi-Million Dollar Contract For New Chase Bank Branch Automation.

SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 4, 1996--Chase Bank awarded a multi-million dollar contract to NCR Corp. for the branch automation including next-generation "smart card" capability for the corporate and customer information system in more than 500 retail branches of this newly-merged "super bank."

NCR teamed with Intellect Electronics, Inc., based here, for this important system win. "This purchase from Chase is the culmination of efforts by NCR to build a comprehensive branch solution for the US marketplace," said Wolfgang Dalichau, vice president -- Financial Systems Division, NCR.

"Our combination of branch hardware, software, and services components were painstakingly selected, designed and integrated to meet the high standards of major banks like Chase."

"Intellect's advanced 7270 banking terminal is a major reason for our participation in this announcement," said Geoff Gander, Intellect's vice president, sales and marketing. "It is designed to handle both the conventional magnetic credit/debit card as well as advanced `smart card' technology mandated by the EMV (Europay MasterCard Visa) consortium for 1997 implementation."

Thirdly, new applications software can be downloaded into Intellect's banking terminal through the computer network without operator intervention. Intellect's proven Electronic Funds Transfer (EFT) security technology has been installed and is in use in major banks world-wide.

For the first time Chase Bank will allow a supplier to install the bank's security keys in its teller/customer banking terminals. However, this is not the first such cooperative win for NCR and Intellect. The two have worked together in the past to provide transaction-oriented computer and data systems for major banks in Asia (Hong Kong) and Europe.

Chase Bank Teller/Customer Interface -- Intellect's Model 7270 Banking Terminal.

Intellect's 7270 banking terminal can read and write the new "Smart Cards" and conventional magnetic stripe cards. The 7270 also incorporates Intellect's proven Intellect Security Architecture (ISA) which meets the ISO9564, AS2805, ANSI X9.24, and ANSI X9.8 standards for data security. It has a 40 character LCD display, 20 key tactile feedback keyboard and a serial RS-232 communications interface.

New applications software can be downloaded into the 7270 through the network without operator intervention.

The Participants:

The Chase Manhattan Corporation is America's largest banking company and also the first broadly diversified banking organization to have top-tier, scale positions in each of its principal business lines. Chase has offices in 39 states and relationships with more than 25 million households coast to coast. They have more primary relationships with large companies than any competitor, making Chase the lead bank to corporate America.

On a global level, Chase has wholesale banking operations in 52 countries, clients in 180, and leadership rankings in almost all areas of global finance, trading, private banking, and information and transaction services.

After a well-publicized merger in March , the new company, called The Chase Manhattan Corporation, is the largest banking company in the U.S. with $300 billion in assets at the time of merger.

NCR Corporation's Financial Systems Group is an industry leader in three primary areas: financial delivery systems, relationship banking data warehousing solutions and payment system/item processing. These delivery solutions allow financial institutions to reach customers more effectively and to develop more tightly linked relationships through self-service banking branch automation, call centers and home banking channels.

NCR Corporation designs, develops, markets and services information technology products, services, systems and solutions worldwide. NCR is located on the World Wide Web at http://www.ncr.com.

Intellect, Inc. designs and develops secure solutions for electronic payment and network solutions. These products range from smart card readers, payment systems, electronic wallet and mobile terminals to cryptographic processors that secure facilities such as a banking network. Intellect has been listed on the Australian Stock Exchange since December 1994.

Intellect's main offices are in Brussels, San Jose, Calif. and Perth (Western Australia). Their products are sold in more than 20 countries including: The Netherlands, Belgium, Norway, Australia, Singapore, Brazil and the United States.

Intellect's clients include major multinational computer companies such as NCR, Unisys, IBM, Siemens-Nixdorf and Fujitsu/ICL which supply Intellect products to the rapidly expanding global electronic funds transfer market.

Current customers include Chase Manhattan Corporation, Coles Myer, Australia Post, BP, Shell, Hong Kong Shanghai Banking Corporation, other major banks in Australia, Belgium, The Netherlands, Norway and leading retailers throughout Europe.

CFI ProServices will provide ProServices Encore! Sales & Service application software, which will operate at the platform workstations. -0-

Note to Editors and Analysts: Contact Brough Communications for phone or personal interviews with Intellect Officers, or for photos and technical information.

CONTACT: Intellect Electronics Inc.

Geoff Gander, 408/467-0375

or

Brough Communications

Bruce Brough, 408/430-0100

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Edelman Public Relations 

Mark McCall, 312/240-2640