SOURCE: PayChest, Inc.

February 15, 2007 12:55 ET

PayChest 4th Quarter Financials Released

PayChest Reports Its Year End Under New Management

HUNTINGTON BEACH, CA -- (MARKET WIRE) -- February 15, 2007 -- PayChest, Inc. (PINKSHEETS: PYCT) today released year end financial results for the period ended December 31, 2006. Highlights of the results include significant financial gains to the company, commitments to shareholders regarding the company's stock policy, reductions in the number of shares outstanding and an increase in asset valuations for shareholders.

The release also provided details of Genfin's control of PayChest.

The last quarter saw the elimination of a long term note by $115,000 and an increase in the asset value with equipment valued at $209,000. Further operational losses incurred in the 4th quarter were reduced with an operational gain of $250,000, over the previous three quarters. Reducing the number of outstanding shares by 1.5 billion, resulted in a shareholder value increase of $450,000. The cumulative effect of these actions, provided over $900,000 in gains for PayChest and its shareholders.

Management set a strict stock policy, announcing a major reduction in the authorized number of shares to 25 billion and also took a decision to not reverse split the stock.

Mr. Pillay said, "The financial statement shows results of the early stages of PayChest's restructuring. We have progressed significantly since then and these will be highlighted in the first quarter results of 2007. My commitment to the shareholders is demonstrated by negotiations to reduce the number of shares outstanding, reduction of authorized share count, the decision to not reverse split the stock and the on going efforts to return more shares to the treasury. I will now turn my focus towards marketing, refining our stock strategy and evaluating PayChest's legacy assets."

About PayChest

PayChest and its strategic partner companies have developed an integrated online payment processing platform utilizing cutting edge technologies to deliver payment solutions online. These payment processing solutions include turnkey payment facilitation for credit and debit cards, electronic checks, money transfer solutions, gift cards and turnkey rewards based systems.

New management within PayChest is focused on innovative and tangible products, improving the online financial experience for online consumers and e-commerce businesses worldwide. To fulfill this obligation, the new management has marked significant timelines over the next few months to streamline operations, with a focus on integrating backend transaction processing infrastructures scalable to new payment technologies and marketing opportunities

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," 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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