July 08, 2008 06:30 ET

Etelcharge Signs Letter of Intent With Comdata Unit

ETLC Through Comdata Stored Value Solutions, Inc. to Offer Premium Gift Cards From a Large Roster of Electronic Merchants That Include eBay, Blockbuster and Netflix

DESOTO, TX--(Marketwire - July 8, 2008) - (OTCBB: ETLC) today announced that it has signed a Letter of Intent with Comdata Stored Value Solutions "to create a gift card offering from premium merchants to be offered by Etelcharge on the Etelcharge website." The LOI is expected to lead to "the preparation and execution of a mutually agreeable, definitive agreement."

"This is a significant next step for us to provide the most complete downloadable content options from the very best merchants, including companies like Blockbuster, eBay and a great many others, for our members through the SVS catalog of gift cards. This represents a huge breakthrough for the Company as we continue to execute on our mission of growth through alliances and acquisitions," stated Rob Howe, Chairman and CEO of Etelcharge. "Our members want selection, brand and quality, and the SVS gift card assortment is second to none in those areas," Howe concluded.

About Comdata

For nearly four decades, Comdata has been at the forefront of payment innovations. We invented the concept of electronic payments for transportation, and in the process launched the Comdata Card -- a payment solution that helped drive an industry. Comdata payment innovations now touch financial transactions of all kinds. Our integrated financial solutions are changing the way companies manage data, pay their employees, process merchant transactions, and manage spending on key business purchases from travel to fuel. Every day, the Comdata network enables millions of transactions for drivers, shoppers, and employees through secure, robust and scalable networks. Listening closely to our customers, we develop custom solutions that help drive their success.

Comdata is a wholly owned subsidiary of Ceridian Corporation, a multi-billion dollar information services and human resource management company based in Minnesota. (OTCBB: ETLC), the first Web 2.0 online payment system, provides online shoppers the ability to charge approved transactions to their telephone bill. While addressing the concerns online shoppers have about identity fraud and identity theft, the payment option is also a perfect match for the millions of individuals without a credit card, or even a bank account. For more information, go to

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause actual results or outcomes to be materially different from those anticipated and discussed herein. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at or from's website at makes no commitment to revise or update any forward-looking statements except as otherwise required by law.

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