IFS increases presence in Asian market.

TROY, N.Y.--(BUSINESS WIRE)--June 27, 1997--Siam City Bank, headquartered in Bangkok, Thailand, has "gone live" with IFS International's TPII electronic funds transfer (EFT) system, the company announced today.

The Siam City Bank system, sold in partnership with IBM in Bangkok, will be used to support the bank's ATMs and will connect to the national PCC network, the bank's host for access to savings and checking, its credit card system and Visa International. TPII will run on the IBM RS6000 hardware platform. IFS and IBM will provide a system to drive more than 160 ATMs.

In announcing this new TPII system to be up and running in Asia, Frank Pascuito, CEO of IFS International, said, "Increasing our presence in the Asian market is an important part of our strategic plan. There are many opportunities for us in this region, and we plan to aggressively market our products to the Asian community."

In other IFS developments in Asia, the company is delivering a TPII system to a bank in the Philippines and recently hired a regional sales director for its Asia/Pacific office in Singapore.

At United Coconut Planters Bank (UCPB) in Manila, Philippines, TPII will support a network comprised of 300 ATMs, more than 1,000 point-of-sale (POS) terminals and connections to Megalink, BancNET and ExpressNET. The Sequent will be the hardware platform for UCPB's system. This network will support well over 200,000 EFT transactions per day.

The new IFS International Asia/Pacific regional sales director is Paul Constable, who has five years experience in credit card management, four years in banking applications and five years in ATM/POS systems. He has worked in Asia for 10 years.

IFS is engaged in the business of developing, marketing and supporting software products for the electronic funds transfer (EFT) market. IFS' family of software products, marketed under the name TPII, serves as a manager of EFT systems for automated teller machines (ATM), point-of-sale (POS) and voice authorization. The system utilizes cutting-edge technology incorporating object-oriented software design, relational database technology and the UNIX operating system for maximum performance. IFS has also adapted its TPII software to manage EFT systems that process transactions involving the "loading" of value on software on smartcards.

IFS company headquarters are in Troy, N.Y., with offices in the United Kingdom and Singapore. IFS securities are traded on the Nasdaq SmallCap Market: MNYC Common Stock; MNYCP Series A Convertible Preferred Stock, MNYCW Series A Convertible Preferred Stock Purchase Warrants.

For additional information about IFS International in the U.S. or Asia, contact the IFS Marketing Department at 518-283-7900, fax [phone], e-mail [e-mail], Web page http://www.ifsintl.com, or write IFS International, Rensselaer Technology Park, 185 Jordan Road, Troy, NY 12180, attention Marketing Department.

For information about IFS International in Europe, the Middle East or Africa, contact IFS International Inc. at [phone], fax [phone], E-mail [e-mail], or write IFS International Inc., Salamander Quay (West), Park Lane, Harefield, Uxbridge, Middlesex, UB9 6NZ, United Kingdom.

CONTACT: IFS International Inc.

Marketing, 518/283-7900