CardSystems Expands Executive Team with Two New Positions.

FAIRFAX, Va.--(BUSINESS WIRE)--Oct. 12, 1999--

ASP Leader in Payment Solutions to the E-commerce Sector Fills

EVP of Sales and Marketing, SVP of Solutions Delivery Positions

Following its recent merger and formation of the industry's first Application Service Provider (ASP), CardSystems Inc., a provider of electronic payment solutions for the electronic commerce industry, today announced it will expand its executive team with the hiring of Gary Levine and William Pearson to fill key company posts.

Gary Levine has been named CardSystems' executive vice president of sales and marketing. In this new position, Levine will oversee CardSystems' domestic sales and marketing efforts. With more than 23 years of experience in professional services and information technology, Levine has a strong background in the business impact of information technology. As one of his first priorities in his new role, Levine will expand the company's current sales team, focusing on individuals with industry-specific expertise.

"Gary has an outstanding reputation in the IT industry and is a great addition to the CardSystems team," said John S. Cramp, chairman and chief executive officer of CardSystems. "Utilizing his knowledge, experience and leadership qualities, Gary will help the company expand its space in the marketplace."

William Pearson has been named senior vice president of Solutions Delivery for CardSystems. In his new capacity, Pearson is responsible for the delivery process involving the firm's eCardSMART(R) Solutions Platform, including project management and onsite consulting.

"As an ASP in the electronic commerce industry, CardSystems needs people like Bill to manage the delivery of eCardSMART solutions to our customers," said Cramp. "The effective deployment of CardSystems' resources - through our cost-efficient delivery process - produces successful solutions for our customers, and Bill has the skills and experience to guide this critical aspect of our efforts."

A 25-year information management industry veteran, Pearson joins CardSystems after serving nine years as the general manager for the Federal Solutions division of Information Management Consultants, a company that provided resource planning, document management, imaging, workflow and Internet solutions to organizations within the Federal Government.

Prior to his joining CardSystems, Levine served as president for IKON Office Solutions/Technology Services Mid-Atlantic - a company providing consulting, network design, implementation and support services to mid-size commercial entities.

About CardSystems Inc.

CardSystems Inc. is a leading provider of applications to the global electronic payment processing industry, offering end-to-end solutions to financial institutions and other transaction-oriented companies. Since its October 1999 merger with Maverick International Processing Services Inc., CardSystems has become the industry's first Application Service Provider (ASP), evolving its proprietary eCardSMART(R) card processing methodology into a solutions framework that can be utilized across a wide spectrum of applications. Additionally, CardSystems has developed intelligent enabling technologies that include an expert system, neural network and software applications optimized for the card processing industry. The eCardSMART suite of intelligent products and Internet solutions gives clients control over their proprietary customer data, dramatic productivity gains and compelling return on investment (ROI). CardSystems has deployed payment solutions in more than 30 countries. For more information on CardSystems, visit the company's web site at http://www.cardsystems.com.