HIMC Corporation and Fast Transact Announce Completion of Strategic Alliance with Vermont Systems, Inc.

TACOMA, Wash. -- HIMC Corporation (OTC:HMCO), a leading provider of Payment Services, and Fast Transact, a leader in Internet and retail credit card processing, today announced that the companies have finalized the terms of the strategic alliance with Vermont Systems, Inc. (VSI) by signing a five-year contract.

Under the agreement, HIMC/Fast Transact will develop check imaging, check verification, check representment, credit card processing and online billing payment solutions to be integrated into Vermont's POS (Point of Sale) terminals.

"We are very excited about potential synergies of this relationship as it brings together intellectual properties, strong client bases and extensive experience of the three companies which are well recognized in the online payment processing industry," commented David Solomon, CEO of Fast Transact, Inc. "Joining our forces will enable VSI to provide its customers and clients with a more advanced suite of payment solutions and to capitalize on the market trend of combining online payment and POS services."

"The confirmed strategic alliance with VSI is a great accomplishment for HIMC," commented A.J. McCann, HIMC Corporation's CEO. "While focusing at first on VSI's software products for managing recreation and park operations, this relationship takes our company another step towards exploring other significant contract options with VSI's current clients and accelerating our growth."

Michael Durand, HIMC's VP of Sales concluded, "The finalized relationship with VSI manifests accelerating demand for HIMC's products and confirms our view that they are a perfect match for any industry. Our sales team is looking forward to capitalizing on the success of this strategic alliance and new business opportunities."

About Vermont Systems

Vermont Systems, Inc. is a privately owned corporation with headquarters in Essex Junction, Vermont. Since 1988, VSI has specialized in developing fresh software products for managing recreation and parks operations for municipal, county, state and federal military governmental entities. VSI markets and fully supports this software primarily on a national basis. The software is also marketed to private businesses with similar needs, such as golf courses and fitness centers.

VSI provides high-quality application software and responsive customer support for over 950 customers with over 600 municipal and county users, several private organizations, and all U.S. Army, Air Force, Marine, & Navy bases worldwide. For more information, visit www.vermontsystems.com

About Fast Transact, Inc.

On March 21, 2005, HIMC Corporation announced an agreement to acquire Fast Transact. Completion of the acquisition is subject to final approval by Fast Transact's shareholders, which can occur only after the HIMC shares to be issued in the merger have been registered with the SEC.

Fast Transact was founded in 2002 as a privately held company in Olympia, Washington. The Company provides integrated electronic payment technologies for accepting, authorizing, securing, and processing credit card, check, and gift card payments for retail and Internet merchants nationwide. For more information, visit www.fasttransact.com.

About HIMC Corporation

Since 1996, HIMC Corporation ("HIMC"), through its wholly owned subsidiary ITI Internet Services Inc. ("ITI"), is a leading provider of Payment Services to over 25,000 customers. ITI Internet Services, Inc., offers a wide variety of payment, verification, and authentication systems, including the award-winning PayByCheck service.

The PayByCheck services suite, provided through ITI Internet Services Inc., has been a leading provider of secure, real-time check and debit processing, Electronic Check Processing ("ECP"), refund and rebate check processing services, NSF Check processing and Automated Clearing House (ACH) transfers for international, national, regional and local businesses through the use of the Internet, telephone, wireless and point of sale (POS) devices. PayByCheck.com is ranked by Nilson in the top 10 for 2002-2004, and the third largest in customer base. For more information, visit the corporate Web site at http://www.himc.com

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1955. Any "forward-looking statements" are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Any statements that are not historical fact (including without limitation statements to the effect that HIMC Corporation or its management "believes," "expects," "anticipates," "plans," "looks forward" and similar expressions) should be considered forward-looking statements. Factors that could cause actual results to differ from those indicated by such forward-looking statements include, uncertainties related to the Fast Transact acquisition, the demand for HIMC's products and service offerings, expansion of HIMC's business or increases in its revenues, profits or cash flows, competitive conditions in the industry, changes in technology, stock price volatility, the ability of the Company to attract and retain key personnel, general economic conditions as well as other risks and uncertainties.