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C.E.C. Industries Corp (fka CECC)

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C.E.C. Industries Corp (fka CECC)

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Puddinhead Free
04/05/04 8:34 PM
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C.E.C. Industries Corp (fka CECC) RSS Feed

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C.E.C. INDUSTRIES ANNOUNCES AGREEMENT WITH FSV PAYMENT SYSTEMS LTD. C.E.C. Industries Corp. (OTC: CECC - News), has announced today that it has entered into a Processing Agreement with FSV Payment Systems Ltd. (FSV) to effect stored value processing for C.E.C.'s upcoming debit and stored-value card business. "We're going to focus the resources of CECC initially in the payroll debit card segment of the industry," said Harold Gregg, President of C.E.C. Industries Corp. "Our newly formed relationship with FSV Payment Systems, Ltd., gives CECC the ability to provide our clients with leading-edge technology and the most complete, programmable stored value processing solutions available. The online transaction processing format is host-based, 7X24, bi-lingual, configurable and scalable," added Mr. Gregg. "At FSV we are pleased to add CECC as one of our valued customers and to provide them with one of the most robust, payroll-centric solution sets in the stored-value industry," said Eric Miller, Chief Executive Officer of FSV. "We are confident that the native flexibility and configurability of the FSV's rules-based, table driven system architecture will allow CECC to be nimbly responsive to the unique needs and requirements of its customers," added Mr. Miller. C.E.C. Industries Corp. is a Nevada Corporation in good standing that is presently entering the business of providing a suite of cash-based debit cards and stored value cards for ATM and debit "point-of-sale" transactions. The Company believes a multi-functional stored value product will fill a void in payroll and consumer payment services. ABOUT FSV PAYMENT SYSTEMS LTD. FSV Payment Systems offers a robust suite of unique, host-based stored-value and payroll debit card solutions direct to large employers and to financial institutions through an exclusive agreement with Fiserv, Inc. (NASDAQ: FISV - News). The FSV processing platform is both proprietary and configurable, allowing for the delivery of both standard and non-standard programs based on customer requirements. For more about FSV, go to www.fsvpaymentsystems.com, www.paychekplus.com, or www.payrolldebitcards.com. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: C.E.C. Industries Corp. Jeff Hoffer, 866-820-5139 lightspeedpr@gvgate.com
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