VendTek Systems Inc.
TSX VENTURE : VSI

VendTek Systems Inc.

March 27, 2008 16:00 ET

VendTek Announces Regional Partnership

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2008) - VendTek Systems Inc. (TSX VENTURE:VSI) ("VendTek" or "The Company"), a leading provider of automated transaction systems software, is pleased to announce that it has entered into a joint venture agreement with its partner in the United Arab Emirates-Privinvest Holding SAL ("Privinvest")-to license the Company's proprietary e-Fresh™ software in the Middle East and North Africa ("MENA"). Privinvest has recently acquired over 4% of VendTek's outstanding shares. These shares were not issued out of treasury, but purchased in the market.

Under the agreement, VendTek will own 10% of the joint venture company named Telecom e-Voucher ("TeV"). TeV will be incorporated in Dubai, United Arab Emirates. TeV will own the exclusive agency rights for specific countries in the MENA region. In exchange for the exclusive rights, VendTek will receive license fees on a pre-determined timetable or TeV launch in a specific country in the region, whichever is earlier.

There are over 80 million GSM subscribers in the Middle East according to Informa Media and according to Wireless Intelligence, this region is the second fastest growing region for wireless penetration.

Doug Buchanan, President and Chief Executive Officer of VendTek, says that the Company's successful history with Privinvest in the U.A.E. and North Africa allows for the new joint venture.

"This is a first step to our regional launch in the Middle East. We feel that with our partner Privinvest, we are well positioned to take advantage of the opportunities in the region. The significant size of the population provides us with excellent growth opportunities in the short and long term. Now that this agreement has been signed, we expect we will be in a position to announce another country license agreement in our third quarter," said Buchanan.

About VendTek

VendTek develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. VendTek's customers and its division, Now Prepay, and its subsidiaries are using e-Fresh™ software to build electronic, prepaid services networks, which enable consumers to purchase prepaid services via POS and self-serve terminals connected to a central e-Fresh™ server. This system creates significant value through improved efficiencies compared to the traditional distribution paradigm. e-Fresh™ reduces shrinkage and inventory requirements while improving consumer access to prepaid services by completely eliminating physical cards and vouchers. For further information please visit the Company website www.vendteksys.com.

About Privinvest Holding SAL

Privinvest Holding SAL is a Lebanese holding company having investments in high technology corporations in Europe and the Middle East. Privinvest is focussing on implementing electronic distribution networks in the Middle East, Africa and the Asian countries, and working on building up an association with VendTek concerning those regions.

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company assumes no obligation to update any forward-looking information contained in this news release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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