SOURCE: PayChest Inc.

August 07, 2008 16:51 ET

PayChest Inc. Declares Spin-Off Dividend; Announces Record Date and Distribution Date

VANCOUVER, BC--(Marketwire - August 7, 2008) - PayChest Inc. (Arizona) (PINKSHEETS: PYCT) announced that its board of directors today declared a dividend distribution of all of the issued and outstanding shares of common stock of its wholly-owned subsidiary, Paychest Inc. (Oregon). Each holder of record of PayChest Inc. (Arizona) common stock at the close of business on Monday, August 18, 2008 will receive 1 share of Paychest Inc. (Oregon) common stock for 200 shares of PayChest Inc. (Arizona) common stock held at such time. The Paychest Inc. (Oregon) share dividend will be distributed on the ex-dividend date to be set by NASDAQ.

Holders of PayChest Inc. (Arizona) common stock are not required to take any action to receive the Paychest Inc. (Oregon) common stock on the distribution date.

Due to the nature of the dividend distribution, the ex-dividend date will be up to 3 days following the dividend distribution date. As a result, holders of PayChest Inc. (Arizona) common stock who sell their shares through the dividend distribution date also will be selling their right to receive the dividend distribution. Investors are encouraged to consult with their financial advisors regarding the specific implications of the deferral of the ex-dividend date.

Information about PayChest Inc. (Arizona) obtained from sources other than the company may be out-of-date or incorrect. Please rely only on company press releases and other information provided by the company.

About PayChest

PayChest, a global marketing company and developer of technology solutions and its strategic partner companies, market and distribute select products and services worldwide, which provide an increased public awareness to conserve and preserve the world's limited resources. The affiliated companies further develop integrated commerce processing solutions. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards based platforms to integrate into an existing business system.

About Paychest (Oregon)

Paychest and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.

Safe Harbor Statement

The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," "can" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.

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