Checkmate and Concord EFS announce business partnership.

ROSWELL, Ga.--(BUSINESS WIRE)--Oct. 19, 1995--Checkmate Electronics, Inc. (Nasdaq-NMS Symbol:CMEL) today announced a business partnership for the distribution of check reader products into the supermarket and retail marketplace. Concord EFS (Nasdaq-NMS Symbol:CEFT) with revenues of approximately $100 million is the first national payment services company to offer a complete menu of services including credit, debit, check protection and recovery, purchase card and ATM transaction processing.

Edward Labry, president of Concord EFS, said: "We selected Checkmate for their significant expertise in the markets we serve. The functionality of the reader, the read accuracy and price points are all very important for the quality of service we provide to our customers."

Checkmate's president and chief executive officer, Jerry P. Malec, said: "This is a very important relationship for Checkmate in expanding our distribution through reseller channels. Concord EFS is one of the undisputed leaders in payment processing. This relationship represents a major service enhancement for Concord's customer solutions. According to Visa statistics, Concord processes for more Supermarkets than any other processor in the U.S. They have added a fast-growing check verification and recovery component to their business. Checkmate has worked with them successfully through some of our leading customers in the past." The relationship is expected to generate approximately $2 million over the following twelve (12) months for Checkmate.

Concord EFS serves supermarket customers and independent retailers through its subsidiaries EFS National Bank in Memphis, TN and Concord Computing Corporation of Elk Grove, IL. The company's revenues are derived from bank credit card authorization, data capture and settlement services; card and cash forwarding services (trucking services) and check authorization services. The company markets its services and products on a nationwide basis to retail merchant outlets, electronic funds transfer networks, financial institutions and trucking companies.

Checkmate Electronics, Inc. develops, manufactures and markets point-of-sale payment automation systems and terminals, including check readers, payment authorization systems, signature capture devices and MICR analyzers to distributors, retailers, and financial services institutions. Headquartered in Roswell, Georgia, Checkmate Electronics, Inc. has 168 employees. Checkmate has recently been ranked the 17th fastest growing small company in the United States by Business Week.

CONTACT: Checkmate Electronics, Inc., Roswell

John J. Neubert, 770/594-6000