SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

August 31, 2010 08:00 ET

SelectCore Achieves Record Revenues for Q2 2010

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2010) - SelectCore Ltd. (TSX VENTURE:SCG), a provider of prepaid telecom and point of sale transaction solutions announces its financial results for the second quarter ended June 30, 2010.

Record revenues of $31.6 million for the second quarter 2010 represented an increase of 40% as compared to $22.6 million in the same period 2009. The growth was attributable to continued demand for the Company's proprietary point of sale activation (POSA) solution and prepaid products.

Net loss for the second quarter 2010 was $214,738 compared to a net income of $317,630 for the second quarter 2009. The difference was in large part due to a foreign exchange loss of $236,564 in the current quarter compared to a foreign exchange gain of $186,150 in the same period 2009.

"SelectCore has made incremental investments with our recent entrance into the U.S. market," stated Keith McKenzie, CEO of SelectCore, "With increased demand for prepaid in the U.S, we anticipate a significant amount of our growth to come from our US subsidiary."

The Company's Financial Statements and Management Discussion and Analysis for the three months ending June 30, 2010 are available on SEDAR at www.sedar.com.

About SelectCore:

SelectCore is a leading provider of point-of-sale transaction processing and electronic distribution solutions for the prepaid telecom and financial services market. Our proprietary PrepaidONE technology platform and extensive retail network delivers a full suite of prepaid products to millions of credit-challenged and unbanked consumers nation-wide. We also provide wholesale solutions to some of the industry's largest distributors, retailers and telecom providers. SelectCore is a public company on the TSX Venture Exchange trading under the symbol "SCG". We were ranked one of the nation's top 100 fastest-growing companies in 2006 and 2007 and 2009 by Profit100.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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