Barrow Street Research
Director Comments on the Firm's Initiating Coverage of Acies
Corporation in Continuing Interview Series on World Talk Radio
Network
NEW YORK, Feb. 22, 2005 (PRIMEZONE) -- Barrow Street Research
Director John D. Attalienti today followed up on the firm's
initiating coverage last week of Acies Corporation (OTC BB: ACIE)
in an interview broadcast over World Talk Radio Network. Acies
is an emerging leader in payment processing and electronic
banking services to small- and medium-size merchants across the
United States The interview, conducted by research analyst
Francis Gaskins of IPOdesktop.com, is available for review at
http://www.worldtalkradio.com/archive.asp?aid=3447.
During the interview, Attalienti, who heads the pioneering
online research firm, reports on the importance he places on a
company's management, and points out that in his opinion the
senior management of Acies is extremely well qualified to
execute the company's business plan.
He indicates another reason he is particularly impressed with
the strategic direction of Acies is its focus on serving an
underdog market -- small- and medium-size businesses poorly
served by Acies' competition -- the neglected but fastest
growing segment of the economy.
The research director said he always pays special attention to
micro-cap companies trying to develop a niche marketplace, and
he believes Acies is doing that job admirably, helped along by
its strong relationships with firms such as JPMorgan Chase and
Paymentech. He stresses that such relationships lend a high
degree of credibility to the continued growth of Acies,
especially given the validation of these important and
impressive alliances.
Attalienti expects the company to grow organically and through
acquisitions, and said the recent institutional investment in
Acies of more than $1 million, with access to an additional $2
million more, is, to him, the lifeblood of the company and
strong evidence that the company will be able to more forward
with its business plan and has a bright future.
The research analyst said the culmination of all these
investment appeals prompted him to initiate coverage of Acies
with a buy rating, and an anticipated 12-18 month valuation of
$2 per share.
A full copy of the report is available at
http://www.barrowstreet.com.
About Acies Corporation
Acies, Inc. ("Acies''), a wholly owned subsidiary of Acies
Corporation (OTCBB: ACIE), is a financial services company that
specializes in payment processing services and online banking
services to small, medium, and large-size merchants across the
United States. Acies' payment processing services enable
merchants to process Credit, Debit, Electronic Benefit Transfer
(EBT), Check Conversion, and Gift & Loyalty transactions. Acies
also offers traditional and next-generation point-of-sale (POS)
terminals, which enable merchants to utilize Acies' payment
processing services. Acies' banking services offer customers
traditional banking services, ability for customers to apply for
an on-line bank account and pay bills electronically.
For more information, visit http://www.aciesinc.com.
Forward-looking Statements
"Safe Harbor'' Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity
and access to public markets, operating expense reduction, and
trends in the industry in which the Company operates. The
forward-looking statements contained in this press release are
also subject to other risks and uncertainties, including those
more fully described in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update these forward-looking statements to reflect
actual results, changes in risks, uncertainties or assumptions
underlying or affecting such statements, or for prospective
events that may have a retroactive effect.
Contact:
Acies Corporation
Oleg Firer, President & CEO
(212) 931-5177
oleg@aciesinc.com
