May 03, 2006 12:30 ET

PayChest, Inc. Formally Paying Dividend in 50 Silver Mining Claims

MEXICO CITY, MEXICO -- (MARKET WIRE) -- May 3, 2006 -- PayChest, Inc. (OTC: PYCT) today announced that it intends to pay its shareholders 1 share of Western Pacific Minerals (a Vancouver BC company) for every share of PayChest held on the record date of today thru May 26, 2006.

In order to accomplish this dividend payment, Western Pacific will have to undergo a forward split of 100 for 1 bringing PayChest's holdings up to 20,000,000,000 shares. Western Pacific is the beneficial owner of 50 silver mining claims in an area of Canada that historically has been rich in silver deposits.

Alejandro Cerda, CEO of PayChest, stated, "The reason for paying the dividend was the result of a decision to focus PayChest on its new business model and divest our interests of unrelated investments. This new focus gives us an opportunity to reward our shareholders with a dividend in a silver mining company at a time when silver has become more economically feasible to mine and highly profitable.

PayChest also confirms today that the programming for the upgrading of the company's Internet Payment System is on schedule and is now 80% complete.

Negotiations are still ongoing with a number of new potential gateway partners, which will enable PayChest members to fund their transfers and online purchases using credit cards.

The company also plans to launch its own PayChest ATM card which can be funded from a PayChest members account online.

This will enable PayChest members to withdraw funds from any of the one million ATMs in 160 countries around the globe.

PayChest Inc. continues to eye the payment gateway markets not being serviced by PayPal around the world including the Philippines.

According to some reports, the government of the Philippines said its economy grew at the fastest pace in more than eight years because workers overseas sent home more money than ever -- $10.8 billion.

PayChest is uniquely positioned to capture this market segment along with the raging Asian markets like China and the emerging Central and South American economies.

About PayChest, Inc.

Founded in 2005, PayChest has developed a proprietary and secure back end payment processing system that can easily be accessed and utilized by anyone with web access and an e-mail address in any country around the world. PayChest has developed a processing system that leverages the existing financial infrastructure of the global banking community and/or credit card companies to enable consumers and business owners located in every corner of the world to securely send, receive and/or process payments with others via the company's Web site. The company's payment processing system operates in real time and incorporates a user interface that is designed to be convenient for any user and does not require any technical know-how to send and receive payments. For more information please contact Alejandro Cerda CEO, +(5255) 5673.2364, Gavillero 32, Residencial Villa Coapa, 14390, Mexico D.F., Mexico, www.paychest.com.

This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.