CardReady Becomes Official Processor for National Trade Association.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--June 4, 2002

Single Source Financial Services Corporation (OTCBB: SSFL), a financial services provider, today announced that its affiliate, CardReady International, Inc., for which it has exercised a purchase option, has become the official debit and credit card processor for the National Association of Resale & Thrift Shops (NARTS) member stores.

CardReady, through one of CardReady's independent sales offices, has developed a partnership with NARTS to become its official credit card processor for their members' merchant accounts. NARTS, with over 1,000 members, is the resale industry's only trade association. NARTS serves thrift, resale, and consignment shops of all types ranging from multi-outlet chains to single stores.

Arnold F. Sock, Chief Executive Officer of Single Source Financial Services Corporation, stated, "According to NARTS, the resale industry has been growing faster than any other segment of retailing and we are proud that NARTS recognizes that CardReady is able to provide quality service at competitive rates to its members. Becoming the official bankcard processor for trade associations is part of our continuing plan to grow CardReady into one of the top 75 bankcard processors in the United States."

Mr. Sock continued, "CardReady already provides credit and debit card processing services to NARTS members exceeding $500,000 annually in processing volume. Now, as NARTS' official debit and credit card processor, NARTS members' processing volume with CardReady should grow as existing members switch their debit and credit card processing services to CardReady, and as the Association continues to grow it's new membership base. We expect in excess of $12,000,000 in annual processing volume from these retail locations within the next year."

Single Source Financial Services Corporation

Single Source Financial Services Corporation provides financial products and services to small and mid-sized businesses. The Company's focus is the marketing and sale of credit and debit card processing services to "brick and mortar" and web-based merchants. Single Source places its merchant clients with CardReady International, Inc. for credit and debit card processing services. Single Source has just exercised its option to purchase CardReady with the closing to occur by September 1, 2002.

CardReady International, Inc.

CardReady International, Inc., (www.cardready.com) a bankcard processor, currently provides merchant credit card processing services to small and mid-size businesses. As such, CardReady is responsible for the acquisition of merchant processing relationships on behalf of banking institutions. In addition to its core credit card processing services, CardReady recently began offering debit card processing for its merchant clients.

For more information, please visit www.ssfl.info or www.magnumfinancial.com.

The matters set forth in this news release may contain forward-looking statements. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from expectations. Contributive factors to such differences include those identified in the company's filings with the Securities and Exchange Commission ("SEC").