SOURCE: Trustcash Holdings, Inc.

March 13, 2008 08:15 ET

Trustcash Holdings, Inc. Reserves Right to Purchase Paivis Common Shares in the Open Market

NEW YORK, NY--(Marketwire - March 13, 2008) - TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (OTCBB: TCHH) announces it is reserving the right to purchase common shares of Paivis in the open market prior to closing of the planned merger with PAIVIS, CORP. ("PAIVIS") (PINKSHEETS: PAVC).

Given the opportunity to purchase Paivis common shares in the open market at levels below the proposed $0.10 purchase price of the planned merger could ultimately reduce the cost of the merger.

In the event Trustcash acquires any shares of Paivis, physical certificate delivery will be requested.

All possible purchase activity of Paivis common shares in the open market will be made at the sole discretion of Trustcash management and the board of directors.

In the event any accumulation of Paivis common stock by Trustcash exceeds 5% of Paivis' issued and outstanding common shares, all necessary 13D disclosures will be made by Trustcash as required.

About Trustcash

Through its Trustcash brand and website www.trustcash.com, the Company is a pioneer of anonymous payment systems for the internet. It developed a business based on the sale of a stored value card (both virtual and physical) that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the "Trustcash™" payment card, which is sold in denominations ranging from $10 to $200 online through any of over 500 websites. Trustcash's non-reloadable, virtual Trustcash card is the only "stored value card" that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

Statements contained herein that are not based on historical fact , as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. TRUSTCASH and PAIVIS intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause TRUSTCASH and PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in TRUSTCASH and PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov.

Contact Information

  • Trustcash
    Investor Relations
    Charles Moskowitz
    212-755-4884