SOURCE: Schimatic Cash Transactions Network.com, Inc.

December 06, 2007 09:30 ET

Phoenix Signs Letter of Intent With Major US Credit Card Issuer and Electronic Payment Systems Company

LAS VEGAS, NV--(Marketwire - December 6, 2007) - Smart Chip Technologies (PINKSHEETS: SCTN) -- Phoenix Technology Holdings, Inc. today announced that it has signed a Letter of Intent agreement with a major credit card issuer and electronic payment services company ("Company") in the United States. The Letter of Intent includes licensing, implementation and utilization of the SCTN Patented Loyalty Technology with a target pilot and production deployment in 2008. The name of the Company will be disclosed upon the final contract signing between the two parties.

"Through our strategic partnership with Loyalty Access Solutions Corporation (LAS), we were able to secure this agreement. LAS was instrumental in assisting both parties in moving this agreement forward to signature," said Miki Radivojsa, President of Phoenix Technology Holdings.

Phoenix and the Company will work together to customize Loyalty Central™, which is a Customer Retention Solution, including Loyalty, Pre-Paid Stored Value, and Gift Cards. This will enable the Company to take advantage of click-and-mortar, real-time programs running on their existing cards and point-of-sale (POS) systems, including bar code, magnetic stripe, RFID, or smart cards, and a range of mobile devices.

"This will truly enhance the value-added benefits associated with the Company's existing customer retention solutions. Our continued effort to provide a differentiating product, which results in an unparalleled customer experience, is our first priority. We know the Company will further strengthen its market position through this strategic relationship," said Claude Jeanson, President of Loyalty Access Solutions.

About Phoenix Technology Holdings

Phoenix Technology Holdings provide sales, client implementation, hosting, development, and system support for customer retention products allowing clients to deploy sophisticated solutions easily and quickly (www.phoenix-tec.com). Phoenix is the exclusive licensor of Loyalty Central from SCTN (www.sctn.com).

About Smart Chip Technologies (PINKSHEETS: SCTN)

Smart Chip Technologies' turnkey customer retention solutions, including Loyalty, Pre-Paid Stored Value, Punch Cards, and Gift Cards, enable issuers, acquirers, and merchants to take advantage of real-time programs using their cardholders' existing cards using bar codes, magnetic stripes, smart chips, RFID, Internet accounts, and other consumer electronic devices. The SCTN system is a scalable, high performance, end-to-end solution that uses an ASP model to customize the system's look and feel to reinforce customer branding. (www.sctn.com)

About Loyalty Access Solutions Corporation

Loyalty Access Solutions provides the world's largest private-labeled discount program and provides state-of-the-art Loyalty, Gift Card and Pre-Paid Solutions across a variety of industries, including retail, hospitality, financial services, non-profit, telecommunications, automotive and various others. Loyalty Access Solutions enables clients to achieve the maximum lifetime value of their best customers by providing an unparalleled customer experience. With unlimited versatility to instantly administer and manage loyalty programs, Loyalty Access Solutions' clients are able to quickly respond and adapt to changes in the marketplace. (www.loyaltyaccesssolutions.com)

Disclaimer: Any statements contained in this document that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties.

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