SOURCE: Cash Technologies, Inc.

May 19, 2008 12:59 ET

Cash Technologies Subsidiary Recovers Estimated $1.25 Million in Revenues

LOS ANGELES, CA--(Marketwire - May 19, 2008) - Cash Technologies, Inc. (AMEX: TQ) ("Cash Tech") announced today that its CPI Holdings, LLC subsidiary ("CPI"), which completed its acquisition of certain assets of Champion Parts, Inc. (the "Champion Assets") on May 5, 2008, has made significant progress recovering former Champion customers, providing approximate purchases of $1.25 million to $1.5 million over the next 12 months according to customer estimates.

Champion was the leading remanufacturer of automotive fuel system components in the U.S. before its bankruptcy in October 2007, with revenues of approximately $20 million per year. Champion's customers included the top five auto parts retailers in the U.S. and dozens of smaller distributors, with combined retail distribution of more than 20,000 retail stores. The recently recovered customers include one of the top five retailers.

Jerry Bragiel, President of CPI, stated, "I'm pleased with the rapid progress we've made in the two weeks since restarting the Champion business. Customers are returning to take advantage of our extensive catalog, history of quality and consumer demand. We believe we will be doing business with most of Champion's former customers in the coming months." Mr. Bragiel was CEO of Champion Parts, Inc. prior to the events that caused the company's bankruptcy, and oversaw 9 years of profitability. He brings with him three other experienced former members of Champion's senior management.

Matters discussed in this release include forward-looking statements within the meaning of the "Safe Harbor" provisions of the PSLRA that involve risks and uncertainties, and actual results may be materially different. Factors that could cause actual results to differ include revenues not reaching expected levels, unexpected competition within the automotive products industry, anticipated improvements in operating costs and net operating margins not being realized, risks related to management and labor, activity levels in the securities markets and other risk factors disclosed in Cash Tech's reports to the Securities and Exchange Commission, including its Forms 10-QSB and Forms 10-KSB on file with the SEC.

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