SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

May 12, 2008 07:21 ET

SelectCore Signs Major Customer Contract

TORONTO, ONTARIO--(Marketwire - May 12, 2008) - SelectCore Ltd., (TSX VENTURE:SCG) announced today that it has entered into a significant, exclusive sales agreement to provide its proprietary POSA (point of sale activation) technology for the distribution of prepaid telecommunication products and services.

This new customer relationship will accelerate the launch of the Company's POSA terminal solution into the retail channel. The contract is expected to add an additional 3,000 terminals and retail points of distribution over the next 12 months, while generating revenues in excess of $25 million over the same period. The first purchase order from this customer was for 1,000 terminals of which all 1,000 have already been delivered for deployment.

SelectCore designed this prepaid platform in house to reside on new Verifone POS terminals. The company uses the same proprietary technology today to process millions of POSA transactions for some of Canada's largest retailers and phone companies. The solution was also developed to easily integrate other products in the future to allow for new revenue streams.

Peter Burdon, CFO of SelectCore said, "We are going to almost double our original projections for terminal deployments. This contract alone is expected to generate over $100 million in sales in just the first few years." Keith McKenzie, CEO further commented, "We knew there would be strong demand for our new POSA technology. We are certainly excited to have won this major contract as it reconfirms SelectCore's strength in the marketplace."

About SelectCore:

SelectCore (TSX VENTURE:SCG) is in the business of providing prepaid telecommunication solutions to the credit-challenged consumer market across Canada. The offerings, which include wireless, home telephone, long distance and broadband internet are marketed through private-label partnerships as well as company's own nation-wide distribution channel of independent and corporate chain retailers. SelectCore's technology division maintains its own telecom network infrastructure servicing many of Canada's largest incumbent phone companies. Profit 100 ranked SelectCore one of Canada's fastest-growing companies in 2006 and again in 2007.

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.

Contact Information