RETAIL LOGIC SMASHES £100bn TRANSACTIONS BARRIER

- 100,000 Chip & PIN Points of Sale

Fleet, Hampshire: April 2nd: Retail Logic, Europe’s leading supplier of integrated card processing solutions, today reached a major business landmark – new statistics reveal that the company's software handled more than £100 billion worth of UK card transactions in the last 12 months.

"The fact that our software authorised card transactions worth £100 billion in the UK last year demonstrates Retail Logic’s market dominance," says Chairman Gareth Wokes. "Our software and services are now in use in more than 1,000 organisations with new household names coming on board each month. This represents well in excess of 250,000 points of sale, making us the clear leader in our field."

Retail Logic has expanded its geographic reach through the signing of a number of strategic partnerships with market-leading companies such as Wincor Nixdorf, which has chosen Retail Logic as software partner for EMV migration worldwide. As a result, projects are already in place with leading European retailers, vindicating the company's strategy of growth through partnership.

"It's great to be able to announce that we've been trusted to upgrade more than 100,000 points of sale to Chip & PIN," adds Retail Logic's Managing Director Tim Stratton. "Chip & PIN now looks set to provide us with a steady revenue stream for at least the next two years. Due to the frustrating lack of stability in Chip & PIN accreditation requirements, it is now clear that a large number of mid-tier retailers will fail to meet the January 2005 migration deadline. Many of them are waiting until their next PoS hardware refresh and we will be introducing new offerings specifically for this area of the market."

Retail Logic's Managed Services group is also showing substantial growth. The group provides card processing services to clients from industries as diverse as retail, banking, car rental, utilities, foreign exchange and Internet service provision, and is on track to process over 100 million transactions from across Europe this year – considerably more than the total the whole of Russia.

About Retail Logic:
The Retail Logic team has been providing payment processing software for more than 15 years. Covering any form of payment card and transaction environment, Retail Logic’s software now handles more than £100 billion a year. Investment in people and research and development, together with a clear focus on the needs of retailers, have led to award-winning products and European market leadership.

About Retail Logic Managed Services:
Retail Logic’s Managed Services operation provides a complete outsourced EFT card authorisation, settlement and fraud management service to a wide range of companies. Transactions are processed on servers based at two of the company's data centres in Southern England with links to all major UK acquirers. Hot standby functionality is employed to enable automated fail-over to the backup site in the event of a failure in any part of the system.