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Card Activation Technologies Updates on Current Litigation Status Against Major Retailers
Tuesday October 16, 5:00 am ET


CHICAGO, Oct. 16 /PRNewswire-FirstCall/ -- Card Activation Technologies, Inc., (OTC Bulletin Board: CDVT - News) today updated shareholders on the status of litigation involving Card Activation's patented technology for debit payment transactions, which include gift card, phone card and other similar debit-styled cards. An independent market valuation puts the value of a successful licensing program for the Company's patent at approximately $3.7 billion.
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The Company reported that of the three previously announced lawsuits against McDonalds Corporation (NYSE: MCD - News), Walgreen Company (NYSE: WAG - News). and Sears Holding Corporation (Nasdaq: SHLD - News), the company settled the McDonalds lawsuit and litigation against Walgreen and Sears continues in U.S. Federal Court in Chicago.

In addition to those lawsuits, which have been brought through Card Activation Technologies Chicago-based law firm, Orum & Roth, LLC, which concentrates its practice in intellectual property law, lawsuits against Barnes & Noble Inc. (NYSE: BKS - News), Aeropostale Inc. (NYSE: ARO - News), and OfficeMax Inc. (NYSE: OMX - News) have also been initiated.

Card Activation Technologies, Inc. is a Chicago-based company that owns proprietary patented payment transaction technology used for processing gift cards, phone cards and other debit purchase transactions. The company believes that many current retailers, gas stations, phone companies and others that utilize those debit cards infringe its patent and is aggressively pursuing litigation against these infringements.

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Card Activation Technologies, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) defend its patent; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at http://www.sec.gov under "Search for Company Filings."


Contacts for Card Activation Technologies

Bev Jedynak Paul Knopick
Martin E. Janis & Company Inc. E & E Communications
312-943-1123 [phone]
[e-mail] [e-mail]