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International Verifact Inc. receives letter from American Banknote Corp.

TORONTO--(BUSINESS WIRE)--Nov. 22, 1996--IVI (International Verifact Inc.) confirms that it has received a letter from American Banknote Corp. requesting a meeting to discuss whether there is an opportunity for a strategic transaction between the two companies.

There have been no discussions with American Banknote Corp. and therefore IVI does not know what American Banknote Corp. may be contemplating.

IVI, however, is currently discussing with another corporation a possible global strategic alliance and other technology and business arrangements.

IVI is engaged in the design, development and sale of electronic payment solutions for retailers, financial institutions, governments and other businesses. IVI's hardware and software products include point-of-sale debit/credit/EFT terminals, check readers, smart card readers, check encoders, and secure PIN entry devices. IVI trades on the Toronto Stock Exchange under the symbol "IVI" and on the NASDAQ as "IVIAF".

CONTACT: IVI

L. Barry Thomson, President and CEO

416/245-6700
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Publication:Business Wire
Date:Nov 22, 1996
Words:150
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