Catuity Issues Correction.Business Editors DETROIT--(BUSINESS WIRE)--April 8, 2003 Catuity, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CTTY CTTY Control Teletype CTTY Console Teletype ; ASX ASX See: Australian Stock Exchange : CAT), a leading loyalty software solutions provider of technical and marketing expertise to credit, debit and gift card issuers, merchants and processors, today issued a correction to its press release of April 4, 2003 that announced the company's new software products. The release contained some information inadvertently issued by the company's public relations firm. Catuity's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. was quoted as indicating that EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. Information Services, LLC, a division of EDS Corporation, was a licensee of the company. At the present time, EDS Information Services, LLC is not a licensee of the company. Catuity, Inc. regrets the error. Catuity, Inc. is a leading provider of application software that allows merchants, transaction processors and payment card issuers to establish and administer customer incentive and loyalty programs integrated to the payment system at the point of sale. The patented Catuity system can be utilized via mag stripe, smart card, RFID or contactless tokens, and to date, Catuity's software applet has been included on millions of chip-based credit cards. Catuity's Loyalty Software can be used by a broad range of sellers of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , particularly those who sell through both store locations and over the Internet. In addition to its innovative software products, Catuity also provides marketing expertise and service to its clients, so that with Catuity's loyalty solution merchants can offer their customers valuable benefits, thereby attracting and retaining customers as well as encouraging increased purchases. More information on Catuity is available at its website: http://www.catuity.com. In conjunction with the provisions of the "Safe Harbor" section of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, this release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. Further information on potential factors that could affect Catuity, Inc. is included in the Company's Form 10-K, which is filed with the U.S. Securities & Exchange Commission. |
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