SOURCE: Relay Capital Corp.

May 20, 2005 20:28 ET

Relay Capital Corp. Retains Corporate Network for Joint Ventures and Acquisitions in the Stored Value Card Industry

Negotiations Underway to Acquire Two of Ascot Investments' Companies

LOS ANGELES, CA -- (MARKET WIRE) -- May 20, 2005 -- Relay Capital Corporation (OTC: RLYC) (www.relaycorp.com) has retained Corporate Network of Los Angeles to identify and negotiate business joint ventures, acquisitions and partnerships within the stored value card industry. Several companies that currently hold transferable joint venture contracts have been identified by Corporate Network, and negotiations have begun on behalf of Relay Capital.

Corporate Network currently is negotiating on behalf of Relay Capital with Ascot Investments, Inc. (www.ascotinc.com) to acquire specific stored value assets held by the firm. The acquisition contracts under negotiation includes a firm registered with MasterCard as a Member Service Provider that has MasterCard and Maestro-ATM pre-paid re-loadable cards, and another company with over 40,000 retail loading stations throughout North America.

"Our goal is to provide Relay Capital with a wide range of the best possible solutions to offer their current and expanding client base," said Harold Gregg, CEO of Corporate Network. "We will continue to identify and execute agreements that provide Relay with new and expansive annuity based revenue streams that not only are in the stored value sector but at the forefront of communications and information technology."

Relay Capital anticipates that the successful acquisition of these contractual assets, will enable it to offer expanded payroll products as well as define a niche market for its private label stored value solutions. With Corporate Network's assistance, it expects to add new and expansive products linked to its card platform and provide its customers with a growing range of superior products and increased customer loyalty.

About Relay Capital Corporation:

Relay Capital Corporation (OTC: RLYC) (www.relaycorp.com) is a developer and marketer of a wide range of prepaid financial services, including pre-paid stored value cards, reward cards, employee payroll cards, gift, retail and affinity group cards, travel cards and fund transfer cards. It encompasses both the marketing and distribution of pre-paid and pay-transfer cards in concert with the development of loading centers. Loading centers are retail locations, such as convenience stores, check cashing facilities or other types of retail facilities serving to dispense or receive cash facilitating transactions for the stored-value card consumer.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements include, without limitation, statements regarding the timing of an award, if any. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Contact Information