SOURCE: Paivis, Corp.

June 17, 2008 08:15 ET

Paivis, Corp. Provides Update on Its Commitment to Deliver Value to Its Shareholders

ATLANTA, GA--(Marketwire - June 17, 2008) - Paivis, Corp. ("PAIVIS" or the "Company") (PINKSHEETS: PAVC) today provides an update to its shareholders regarding its commitment to deliver them value for their stockholdings.

Although, every attempt has been made to meet previous timelines for the planned merger with Trustcash Holdings, Corp. ("Trustcash") (OTCBB: TCHH), Paivis stands by its merger plans and believes that the planned combination with Trustcash will deliver what the Company wants for all its shareholders, which is increased value.

With that in mind, Paivis management feels it is better for the merger to experience delays instead of not consummating at all, yet the Company will continue working diligently and as quickly as possible to deliver the value it seeks for its shareholders under the Merger Agreement.

Further to that, the Company steadfastly believes the value it will provide to Trustcash is still worth the $0.10/share in cash and one common share that was agreed to be paid to the Paivis common shareholders in the Amended and Restated Merger Agreement ("Merger Agreement"). (All details of Merger Agreement filed with the SEC in form 8K on February 12, 2008.)

Edwin Kwong, the Interim Chief Executive Officer of Paivis, commented: "Our confidence stems not only from the belief we have in ourselves and the people from Trustcash but also being pleased by the developments from Trustcash regarding their efforts in raising the capital required under the Merger Agreement. In addition, there are a number of things we are working on to aid in securing this value creation for our shareholders and we look forward to announcing them as they are completed."

About Paivis, Corp.

Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7-Eleven, and Chevron.

About Trustcash

Through its Trustcash brand and website, the Company is a pioneer of anonymous payment systems for the internet. It developed a business based on the sale of a stored value card that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the "Trustcash™" payment card, which is sold in denominations ranging from $10 to $200 online through any of over 500 websites. Trustcash's non-reloadable, virtual Trustcash card is the only "stored value card" that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.


The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. TRUSTCASH and PAIVIS intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause TRUSTCASH and PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in TRUSTCASH and PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at

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