SOURCE: MyECheck Inc.

June 09, 2008 06:30 ET

MyECheck Inc. Announces Over 100% Growth in Revenues in First Two Months of Second Quarter 2008

Electronic Transaction Processor Also Posts April to May Revenue Growth at Over 60%

SACRAMENTO, CA--(Marketwire - June 9, 2008) - MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce, that in the first two months of the second quarter of 2008, unaudited revenues have exceeded the first quarter of 2008 by over 100%.

Furthermore, the company's unaudited revenues have increased by over 60% for the period May 2008 compared to April 2008.

The company noted that while there has been an economic downturn of late, the numbers would seem to point to a turn-around when it comes to online retailing. According to a recent report by eMarketer, "although consumers are reacting to the economic downturn by spending less, this will create more of a hardship for retail stores than for online retail outlets."

eMarketer estimates that US retail e-commerce sales (excluding travel) will reach $146 billion in 2008, up 14.3% over 2007.

And, according to Barrington Research, the 16-Stock group of electronic-transaction processors recorded its second consecutive month of positive price performance with a mean return of 4.47%. Twelve of the 16 stocks registered positive returns for the month, ranging from 2.8% for Western Union to 18.9% for Cardtronics. Besides Cardtronics, leading price performers for the month included Heartland Payments at 17.9%, Global Cash at 15.7% and Fidelity National 11.7%. The mean group return of 4.47% in May was greater than both the S&P 500 Index and the Dow Jones Industrial Average at 1% and minus-1.4%, respectively.

Ed Starrs, CEO of MyECheck, commented, "Our growth in this period is unprecedented for the company, and we expect that we will continue to increase our revenues as more of our customers are added."

The company notes that the numbers contained in this release are unaudited, and are made in good faith and based on all the financial information available to the company today.

MyECheck also wishes to caution readers that any forward looking statements are just beliefs or predictions, and that actual results might differ materially from those projected in any or all of the forward-looking statements. Further, past financial business, operations and stock performance are not necessarily indicative of the company's future performance.

About MyECheck

MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions to credit cards for brick & mortar, internet, intranet and mobile commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patent pending RCC solution provides merchants with financial access to more consumers than any other single payment method.

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Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the Securities and Exchange Commission.

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