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Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Pilot Project Of The Worldwide EFT+ Services in China with a Beijing Based Bank (Press Release)

Las Vegas, NV, Jun 12, 2007 (Pink Sheets News Service) — LAS VEGAS, NV, June 12 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com the senior management team had the pleasure of touring the offices and meeting the staff in the Beijing office of International Express Payment Corp.( IEXPay), as well as touring the recently announced EFGO office space.

The first meeting with a well known Chinese bank, with over 150 branches primarily in the Beijing area, took place today. The initial meeting went smoothly, and discussions suggested that there will be interest in Cash Now Worldwide EFT+ services on a pilot project basis, or the Check 21 clearing service as it is commonly knows in the industry.
China clears a very large number of USD denominated checks, and the ability to reduce the time required to clear these checks from several weeks to a mere 3-4 business days struck a very strong chord. Initial analyses suggest the revenue potential from this service alone could reach USD $12 - $15 million.

In closing Esprit CEO Garr Winters said in issuing the forward revenue guidance recently released by Esprit we took a very conservative outlook on the revenue stream of our Check 21 product line. Pending the return of the pilot project we may have to restate the forward revenue guidance to reflect the aforementioned revenue possibilities".

Full article;
http://www.pinksheets.com/quote/news.jsp?symbol=EFGO&headline=Esprit+Financial+Group+Inc.+%28Esp...