PJT Project Telecom

RNS Number:8843K
Project Telecom PLC
1 October 2001

                                PRESS RELEASE


                    Project Telecom to provide a combined
          electronic funds transfer and mobile e-top up service to retailers



MONDAY, 1 October 2001 -- Project Telecom, the UK's leading independent
provider of wireless voice and data services to the corporate sector, has
established a partnership with a major clearing bank  ("bank partner") to
offer a combined electronic funds transfer ("EFT") and mobile electronic top
("e-top up") service to Project Telecom retail customers.



Tim Radford, Project Telecom's Chief Executive, said:  "Project Telecom's
retail services division is a highly efficient, cash-generative business with
a leading market position.  We have been looking for innovative ways,
involving minimal investment, of leveraging our e-top up platform to deliver
new services that will enhance the growth potential and profitability of the
business.  The addition of EFT is a significant step towards achieving this
objective."



Under the exclusive partnership agreement, Project Telecom's retail customers
will be able to use the company's in-store e-top up terminals to process
credit and debit card transactions via the bank partner's merchant system, as
well as offering shoppers e-top up of pre-paid mobile airtime.



The new service will be added to Project Telecom's existing e-top up terminals
from 1 November 2001 and offered on all future terminals installed.  By early
2002, Project Telecom anticipates that it will be offering its e-top up
capability to the bank partner's estate of 15,000 credit and debit card
merchants.



To date, Project Telecom has installed more than 2,300 e-top up terminals,
including those operated within the Londis, Costcutter, and Nisaway symbol
groups, and throughout the entire Choices Video retail chain.  The company
believes that the rate of new installations should increase once the new
combined service has been established.



Chris Tombs, Managing Director of Project Telecom's Retail Services division,
commented: "For the first time, convenience stores will be able to handle
electronically, on a single terminal, credit and debit card transactions and
top-up of pre-paid mobile airtime.  We believe that this will result in
significant cost savings for store operators, as well as boosting the take-up
of Project Telecom's e-top up terminals within the sector, giving us a
significant competitive advantage."



The new EFT facilities will be able to process transactions for all leading
credit and debit cards including MasterCard, Visa, Switch, and Delta, and will
offer mobile e top up on Vodafone, Cellnet and Orange.



-ENDS-



For further information contact:


Tim Radford - Chief Executive, Project Telecom
Mobile: 07831 642911


Chris Tombs - Managing Director Retail Services, Project Telecom
Mobile: 07836 220240


Simon Bloomfield
Bankside Consultants
Tel: 020 7444 4140

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