SOURCE: Cell Charge Processing

September 20, 2005 11:30 ET

Verus Financial Management™ Announces Its New Product Launch, "TAKECHARGE™" Into Office Depot™

WESTLAKE VILLAGE, CA -- (MARKET WIRE) -- September 20, 2005 -- Verus Financial Management, Inc., a leading credit card and check processing company, announced today it has reached an agreement with Office Depot, Inc. (NYSE: ODP), a leading global provider of office products and services, to sell its "TAKECHARGE" payment processing product in the retailer's 978 U.S. retail store locations. TAKECHARGE is a product venture between Verus Financial Management, Inc. and Cell Charge Processing, LLC.

TAKECHARGE enables merchants to use any touch-tone or cellular telephone to accept Visa, MasterCard, American Express or Discover cards as a form of payment. In conjunction with Global eTelecom, TAKECHARGE also enables merchants to deposit checks electronically using any touch-tone telephone. TAKECHARGE will be available in Office Depot stores later this month at a retail price of $14.95, after rebate.

"TAKECHARGE is a great payment tool for all businesses, but particularly for small, mobile businesses with low monthly volumes," said David J. Bartone, one of Cell Charge's founders and managers. "With TAKECHARGE, merchants can accept credit cards and checks from anyone, anywhere, anytime. We are proud that TAKECHARGE will be sold at Office Depot and are confident that TAKECHARGE will be a welcome addition to the long line of excellent products Office Depot offers its business customers."

"The TAKECHARGE product might be best described as a 'do-it-yourself' credit card processing kit," said Rick Garboski, TAKECHARGE's National Sales Manager. "Merchants can apply on-line, over the phone, by fax, or by mail. To process a payment transaction, no credit card terminal or other equipment is necessary. The only thing a merchant needs is a telephone." "We have boarded in excess of 4,000 new accounts over the past year through this product affiliation and we are excited about the growth potential of the TAKECHARGE product offering and the opportunities expanding to other major retail outlets in the future" said William Wade, Executive Vice President of Verus.

According to Garboski, TAKECHARGE is ideal for mobile, home-based, or start- up businesses that need reliable, low-cost card and check processing. TAKECHARGE offers such businesses the most affordable way to accept credit cards as a form of payment.

"Office Depot is the first office supply retail superstore to offer telephone credit card and check processing payment services to its customers as a pre-packaged, shelf product," said Robert Dunlap, Merchant of Technology and Business Services for Office Depot. "We believe our customers will benefit substantially from this unique and innovative product."

About Verus Financial Management

Verus Financial Management, a privately held Nashville, TN-based company established in 2002, is a leading consolidator of successful payment processors into a "best practices" payment services company. Solutions offered by its wholly owned subsidiaries include a wide range of payment processing services that meet the needs of traditional and non-traditional merchants. These services include electronic payment processing for associations, retail, mail order/telephone order and Internet-based merchants. Additionally, the Company's proprietary gateway provides OEM software makers in a variety of vertical markets with the ability to build a flexible payment module into their billing modules, allowing added convenience to their merchant bases, while creating new and attractive revenue streams for these technology partners. Verus, Latin for "true, fair, or just," takes the best practices of its subsidiaries and leverages them across the Verus family of providers, partners and merchants.

About Office Depot

With annual sales approaching $14 billion, Office Depot provides more office products and services to more customers in more countries than any other company. Incorporated in 1986 and headquartered in Delray Beach, Florida, Office Depot conducts business in 23 countries and employs 47,000 people worldwide. The Company operates under the Office Depot®, Viking Office Products®, Viking Direct®, Guilbert®, and Tech Depot® brand names.

Office Depot is a leader in every distribution channel -- from retail stores and contract delivery to catalogs and e-commerce. With $3.1 billion in online sales in FY'04, the Company is the world's number three Internet retailer. As of June 25, 2005, Office Depot has 1,011 retail stores in North America in addition to a national business-to-business delivery network supported by 22 delivery centers and more than 60 local sales offices. Internationally, the Company conducts wholly owned operations in 14 countries through 76 retail stores and 26 distribution centers, and operates 153 retail stores under joint venture and license arrangements in another seven countries.

The company's common stock is listed on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at: http://mediarelations.officedepot.com.

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