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Trintech Group PLC Acquires Exceptis Technologies.

Business Editors/Technology Writers

SAN MATEO, Calif. & DUBLIN, Ireland--(BUSINESS WIRE)--Nov. 22, 2000

Acquisition expands product portfolio to include automated

dispute resolution and fraud management functionality

Trintech (Nasdaq:TTPA) (Neuer Markt:TTP), a leading provider of secure electronic payment infrastructure solutions, today announced the acquisition of Exceptis Technologies for a total consideration of approximately $26 Million.

Exceptis Technologies is a leading provider of B2B and B2C Internet enabled payment infrastructure solutions for automated payment card dispute resolution and fraud and risk management for card issuers, financial transaction processors, acquirers and merchants. This acquisition reinforces Trintech's commitment to becoming the dominant global provider of secure ePayment infrastructure solutions for ecommerce and wireless commerce.

Commenting on the acquisition, Mr. Cyril McGuire, Executive Chairman of Trintech said, "This acquisition is consistent with Trintech's growth strategy of gaining new customers, broadening its product suite and generating increased market share on a global basis. With ecommerce revenues expected to reach $1.2 trillion by 2002, increased card usage on the Internet and dispute ratios approaching 50% for Internet originated transactions, Trintech is now positioned, through this acquisition, to provide its growing customer base with a cost effective leading edge solution to respond to this challenge."

Exceptis Technologies, headquartered in Dublin, has a team of over 60 highly skilled people. Founded in 1992, Exceptis is now an established player in the automated dispute resolution and fraud management market for payment card transactions. Exceptis Technologies' solutions automate the exception management process from end-to-end, increasing efficiency and improving fraud management and customer care. Exceptis is among the first to provide these benefits to all forms of electronic transactions -- from credit and debit cards to ATMs and eBusiness.

Exceptis Technologies has a customer base of over 50 financial institutions worldwide, including Barclaycard, Telekurs, eFunds, Bank of Ireland, AIB Bank and Skandinavinska Enskilda Banken (SEB).

Brian Caulfield, CTO and co-founder of Exceptis stated, "Joining forces with Trintech will give us access to Trintech's significant capital resources and distribution reach, which will allow us to more fully exploit the emerging global opportunity, particularly in the B2B market space, for automated transaction dispute resolution and fraud and risk management solutions."

The consideration is being effected through the issuance of ordinary shares equivalent to 1.8 million American depositary shares, and a two-year performance earn-out of approximately U.S.$10 million, which will be paid through the issuance of ordinary shares. The acquisition will be accounted for on a purchase accounting treatment basis.

"With the acquisition of Exceptis, following on the recent acquisitions of Globeset, Sursoft and Checkline, Trintech is continuing its role in the consolidation of the ePayment industry and executing on its strategy to become the dominant provider of secure ePayment solutions globally," says Paul Byrne, Chief Financial Officer.

About Trintech

Trintech is a leading provider of secure electronic payment infrastructure solutions for real world, Internet and wireless transactions. The company, founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech's secure product range is deployed in over 35 countries worldwide and covers the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. The Group's range of scalable, open systems architecture solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94003 (Tel: 650/227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at http://www.trintech.com. Investor information can be found at www.trintech.com/investor.

About Exceptis Technologies

Established in 1992 and headquartered in Dublin, Ireland, Exceptis Technologies (formerly Peregrine Systems) is a leading provider of exception management solutions to the card payments industry. The company focuses on "Making Payments Pay" and its product suite includes ICS (Issuer Chargeback System), ICS/Fraud, MERCS (Merchant Chargeback System) and Merchant WebLink. These products are combined with a professional service offering which covers consultancy, training, implementation and support services to its international customer base. Clients include over 50 financial institutions worldwide.

This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected growth of the ecommerce market through 2002 and increases in card usage dispute ratios, Trintech's ability to provide a solution to these challenges, the ability to increase sales of Exceptis' products and services as a result of the acquisition and the global demand for these products and services, and the potential synergies of the acquisition. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those stated in this press release. Factors that could cause or contribute to such differences include the level of demand for Trintech's and Exceptis' products and services, Trintech's ability to assimilate Exceptis' products and technologies with its own, any difficulties Trintech may experience in integrating Exceptis' organization into its own and the worldwide demand for ecommerce and ecommerce solutions.

Additional factors could include the ability to develop, market and sell its eCommerce software and the market acceptance of the SSL or SET(TM) standards for eCommerce payment transactions. Actual performance may also be affected by other factors more fully discussed in Trintech's Form 20-F and Form 6-K for the quarter ended July 31, 2000 filed with the U.S. Securities and Exchange Commission.
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Publication:Business Wire
Geographic Code:4EUIR
Date:Nov 22, 2000
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