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Monday, 01/23/2006 2:13:06 AM

Monday, January 23, 2006 2:13:06 AM

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Lipman USA Signs Distribution Agreement with Conquest Financial

Monday January 23, 2:00 am ET
Conquest to Sell NURIT 2159 Electronic Cash Registers

ROSH HAAYIN, Israel--(BUSINESS WIRE)--Jan. 23, 2006--Lipman Electronic Engineering Ltd. (Nasdaq, TASE: LPMA) today announced that its U.S. subsidiary, Lipman USA, Inc., has signed a distribution agreement with Conquest Financial, LLC. Under this agreement, Conquest will sell complete systems consisting of Lipman's NURIT 2159 Electronic Cash Register (ECR) and the NURIT 222 PIN Entry Device. In addition, Conquest will purchase licenses for Lipman's NURIT Store, a web-based solution that provides end users with full-featured store management functionality including back-end reporting and product management capabilities.

Product deliveries began in December 2005, and Lipman expects to recognize approximately $4 million of revenue by the end of 2006 from the sale of systems, as well as the provision of recurring services, to Conquest. Conquest will be distributing and servicing Lipman's solutions not only to traditional ECR channels, but also to the shopping mall operator channel.

Conquest Financial offers a complete array of solutions across all payment forms, card brands and merchant segments. Conquest's solutions enable merchants to accommodate a customer's preferred form of payment, from cash to checks and smart cards. Conquest serves businesses in a wide range of markets including hospitality, retail, delivery and transportation.

Michael Schvartsman, President of Conquest Financial, said, "We are pleased to begin distribution for Lipman of the NURIT 2159. We place a great emphasis on meeting the needs of our customers, and believe that the NURIT 2159 is a best-in-class product. In addition, when combined with the NURIT 222 PIN Entry Device and the NURIT Store software, we are able to offer our customers a truly complete solution that we are confident will exceed our customers' needs."

Robert Striano, President and CEO of Lipman USA, said, "Conquest Financial is a significant new customer for Lipman USA and this agreement will help set the foundation for our ECR business as we head into 2006. In addition, the agreement opens a new distribution channel for Lipman USA, one which we believe can help us grow our ECR business and, potentially, our traditional POS terminal business. With Conquest's strong position in the market place, we are confident that this partnership will be a success and help to further drive the growth of Lipman USA."

About Lipman

Lipman is a leading worldwide provider of electronic payment systems. Lipman develops, manufactures and markets a variety of handheld, wireless and landline POS terminals, electronic cash registers, retail ATM units, PIN pads and smart card readers, as well as integrated PIN and smart card ("Chip & PIN") solutions. In addition, Lipman develops technologically advanced software platforms that offer comprehensive and customized transaction processing solutions for its customers, as well as managed professional services such as on-site and call-center support with remote terminal management.

Lipman's corporate headquarters and R&D facilities are located in Israel. Lipman also maintains offices in the US, United Kingdom, Turkey, China, Spain, Finland, Russia, Italy, Canada, Brazil, Argentina, Mexico, Australia and India. For more information visit www.lipman.biz.

http://biz.yahoo.com/bw/060123/20060122005085.html?.v=1

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