National Check Trust, Inc. Signs Agreement With Global eTelecom, Inc. for Electronic Check Conversion Processing.

Business Editors/High Tech Writers

DESTIN, Fla.--(BUSINESS WIRE)--Aug. 8, 2001

Global eTelecom, the national leader in Electronic Check Conversion (ECC) today announced that National Check Trust, Inc. (NCT) has agreed to utilize the company's new proprietary, customizable XML based transactional processing technology and operational service package.

"We are very pleased to announce our new partnership with Global eTelecom. We have spent the last two years searching for a suitable business partner with the necessary experience, systems, and financial stability with which to launch our Electronic Check Conversion Product with Guarantee," states Alex Borroto, Vice President of National Check Trust. Based in Miami, Florida, National Check Trust, Inc. has been in the Check Conversion Business for over 11 years. " We selected Global eTelecom because of their processing technology, industry knowledge and experience, which were found to be superior to other companies we compared Global eTelecom with. We are looking forward to a long and mutually beneficial relationship with Global eTelecom and offering our current and future merchants with cutting edge Electronic Check Processing technology."

"We are honored that National Check Trust chose our company as their long term partner and one stop solution for Electronic Check Conversion technology," states John H. Beebe, Chairman & Chief Executive Officer of Global eTelecom. "As the Electronic Check Industry continues to explode, we look forward to joining with our National Check Trust to create customizable, efficient solutions for their processing needs, which then in turn enables them to provide cutting edge, value added solutions for their customers. This is a win-win-win solution for all parties involved."

About Global eTelecom, Inc.:

Global eTelecom owns the first technology for processing checks electronically at the Point of Purchase through the National Automated Clearing House Association (NACHA). Global eTelecom is an active member of NACHA's Electronic Check Council. Global eTelecom provides it's proprietary, fully customizable XML based electronic check processing services to a nationwide network of banks, independent sales agents and associations, credit card processors, insurance companies, and retail merchants, ranging in size from small "Mom & Pop" stores to national retail chains. Global eTelecom's proprietary Electronic Check Services include: Electronic Check Conversion (Point-of-Purchase), Electronic Mail Order / Telephone Order Checks (MOTO), Encrypted Electronic Internet Checks, Lockbox Conversion, Electronic Recurring Debit, Electronic Represented Check Collection (RCK), Wireless Encrypted Infrared Checks, Electronic Check Image Capture , and Secure Web Based Check Image Retrieval. More information on Global eTelecom can be found on the company's website at http://www.globaletelecom.com

About National Check Trust, Inc.: (NCT)

National Check Trust (NCT) based in Miami, Florida has been providing payment guarantee solutions to merchants nationwide for over a decade, and guaranteed over 1 Billion dollars of checks in 2000. In addition to servicing a nationwide merchant base, National Check Trust works with the Washington Area New Automobile Dealers Association, (WANADA) in Washington, D.C. to provide payment guarantee services to automotive dealerships in and around the nations capital. For more information, please contact National Check Trust's website at http://www.nctinc.net .