Replies to post #65297 on Five and Under

[bobkubecka]

New Multi-Account Smart Card Patent Issues
Wednesday June 11, 9:00 am ET


SYOSSET, N.Y., June 11 /PRNewswire-FirstCall/ -- Quest Products Corporation (OTC Bulletin Board: QPRC - News) announced today that the United States Patent Office has, on June 10, 2003, issued U.S. Patent No. RE 38,137 on Quest's multiple account smart card system. The new Patent which contains 35 separate claims replaces the Company's original U.S. Patent No. 5,859,419 which had 7 claims. In January, 2001, the Company filed a Re-Issue Application with the United States Patent Office to add these additional patent claims to the Company's patent for a multiple account smart card system. The new claims were allowed in their entirety.
Herbert Reichlin, President and Chief Operating Officer of Quest Products Corporation said: "We have been waiting patiently for the issuance of our new Patent which we believe sets forth an invention of great importance for the credit card, debit card and security industries. We believe there is great interest today among the credit card issuers and in the government sector for the invention covered by our Patent. The Patent provides the Company with a legal monopoly to practice the claims of the Patent to the exclusion of others through at least 2015."

The multi-account smart card system covered by the Patent

[Capt_Nemo]

Wednesday, June 11, 2003 09:00 ET

SYOSSET, N.Y., Jun 11, 2003 /PRNewswire-FirstCall via COMTEX/ -- Quest Products Corporation (OTC Bulletin Board: QPRC) announced today that the United States Patent Office has, on June 10, 2003, issued U.S. Patent No. RE 38,137 on Quest's multiple account smart card system. The new Patent which contains 35 separate claims replaces the Company's original U.S. Patent No. 5,859,419 which had 7 claims. In January, 2001, the Company filed a Re-Issue Application with the United States Patent Office to add these additional patent claims to the Company's patent for a multiple account smart card system. The new claims were allowed in their entirety.

Herbert Reichlin, President and Chief Operating Officer of Quest Products Corporation said: "We have been waiting patiently for the issuance of our new Patent which we believe sets forth an invention of great importance for the credit card, debit card and security industries. We believe there is great interest today among the credit card issuers and in the government sector for the invention covered by our Patent. The Patent provides the Company with a legal monopoly to practice the claims of the Patent to the exclusion of others through at least 2015."

The multi-account smart card system covered by the Patent allows an innumerable variety of credit, debit and customer accounts to be maintained on a single card. These accounts may be credit, debit, frequent flyer, telephone calling card, frequent hotel stay and any other type of consumer account. The card can also easily store personal information such as telephone numbers, addresses, e-mail addresses and even the complete medical history of the card holder. With one swipe of the card the user has immediate access to all of these accounts or information. The card also allows the user to store in memory a record of every transaction for which the card was used making an instant review of all charges a simple matter. No need to wait for monthly bills or even to go on-line to review account status. Equally exciting, the "card" can take the physical form of a plastic card or it can be embedded in a tiny chip which is installed in a cell phone, palm-type device or other wireless or wired computer or communications device. With the patented card there is simply no need to carry hoards of plastic, nor is there any need to search for passwords, pass codes, frequent flyer numbers and discount numbers. The entire contents of the card can be accessed with a single "PIN" number which also provides the added security and anti-fraud features not found on your typical consumer credit card. Biometric access codes such as fingerprint information can also be stored on the card and used in lieu of a "PIN" code. The invention creates a perfect device for a security "fast pass" which in the future may allow those individuals possessing such a card to pass quickly through special security lines at airports and other security sensitive areas.

The Company is extremely excited about the issuance of the Patent and Alex W. "Pete" Hart, Quest's consultant on credit card matters, will be helping the Company to market the Patent and the card system. Mr. Hart, who has been serving as the Company's consultant for the past two years, is the former Chief Executive Officer of MasterCard International and the founding Chairman of the Board of the Cirrus System, the world's largest network of shared automated teller machines.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act: Statements in this release which are not historical facts are forward-looking and involve a number of risks and uncertainties, including but not limited to the Company's limited operating history, uncertainties or market acceptance of products, uncertainties of new product development and other risks.

SOURCE Quest Products Corporation


CONTACT: Herbert M. Reichlin of Quest Products Corporation,
[phone], [e-mail]

URL: http://www.quest-products.com
http://www.prnewswire.com