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SORICON SIGNS TECHNOLOGY LICENSE AGREEMENT WITH INDUSTRY LEADER VERIFONE

 BOULDER, Colo., July 9 /PRNewswire/ -- Soricon Corp. (NASDAQ: SRCC, SRCCW) today announced a technology license, manufacturing and distribution agreement with VeriFone Inc. (NASDAQ-NMS: VFIC), the worldwide leading provider of Transaction Automation systems.
 Soricon has granted VeriFone a product and technology license to market and distribute Soricon's magnetic ink character recognition (MICR) checkreaders. Under terms of the agreement, which is expected to contribute significantly to Soricon's revenue stream over the next five years, VeriFone will pay Soricon a royalty on checkreader sales. Soricon has granted VeriFone exclusive marketing rights in various market segments, and Soricon has reserved selected market segments for its own coverage. Soricon has also granted VeriFone non-exclusive marketing rights for the remainder of the market.
 Neville Vere Nicoll, president of Soricon, said the exclusivity provisions will enable Soricon to concentrate its resources on further penetrating existing markets and entering markets where the company did not previously have an established presence. He added that in some cases the two companies may collaborate in marketing efforts.
 "By concentrating our marketing resources in areas that offer Soricon the greatest potential for near-term penetration and expansion, we expect to achieve our objectives of steady, year-to-year revenue growth and profitability," Vere Nicoll said. "At the same time we'll enjoy an ongoing royalty revenue stream from secondary markets as well as the benefits of a close affiliation with the highly regarded VeriFone.
 "We are extremely pleased with our new association with VeriFone, the unquestioned leader in the transaction automation industry," said Vere Nicoll. "VeriFone's selection of Soricon's MICR checkreader is further evidence of the quality of Soricon's products and technology." Vere Nicoll termed the relationship a "strategic alliance" that will include joint product development efforts and an ongoing technology exchange.
 Checkreaders are point-of-sale devices that enable retailers and other merchants to quickly and accurately input check data used to detect high risk payments and reduce bad check losses. Soricon, whose flagship product is the CheckReader(TM), has a strong presence in retail markets and counts among its customers such organizations as Target Stores, Safeway Stores, Telecheck and Nordstrom Inc.
 VeriFone is the leading global provider of Transaction Automation solutions used to deliver payment processing and other transaction services to the retail, health care and government markets.
 -0- 7/9/93
 /CONTACT: Neville Vere Nicoll or David A. Kempf of Soricon, 303-440-2800; or Beth Lawrence of Pfeiffer Public Relations, 303-393-7044, for Soricon; or David Barnes of VeriFone, 415-696-8823/
 (SRCC VFIC)


CO: Soricon Corp.; VeriFone Inc. ST: Colorado IN: SU:

MC -- DV002 -- 9823 07/09/93 10:03 EDT
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Date:Jul 9, 1993
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