Acies Corporation
Appoints Jeffrey A. Tischler as Chief Financial Officer
NEW YORK, May 9, 2005 (PRIMEZONE) – Acies Corporation (OTCBB:
ACIE), which specializes in payment processing and online
banking services to small, medium, and large-size merchants
across the United States, announced today that its Board of
Directors appointed Jeffrey A. Tischler as its Chief Financial
Officer on May 6, 2005.
Prior to joining Acies, Mr. Tischler was Vice President of Asta
Funding, Inc. (NASDAQ: ASFI), a consumer receivables asset
management company, where his responsibilities included
involvement in operational and financial functions ranging from
strategic planning to strengthening the company’s
infrastructure. From 1993 to 2000, Mr. Tischler was Executive
Vice President and Chief Financial Officer of LandAmerica
Financial Group, Inc. (NYSE: LFG), including serving as
Executive Vice President and Chief Financial and Administrative
Officer of LandAmerica’s acquired predecessors, Commonwealth
Land Title Insurance Company and Transnation Title Insurance
Company. From 1980 to 1993, Mr. Tischler was with Reliance Group
Holdings, Inc., where he held the position of Vice President of
Financial Planning and Analysis. A certified public accountant,
Mr. Tischler was a senior accountant with KPMG Peat Marwick from
1978 to 1980.
Oleg Firer, President and Chief Executive Officer of Acies
Corporation said, “As our company has grown, so has our need for
an experienced chief financial officer. With Jeff Tischler’s
extensive background in publicly traded financial services
companies, and as an operations-oriented chief financial
officer, we believe he will add significant strength to our
management team. We anticipate that Jeff’s capabilities in
acquisitions, strategic planning, investor relations, internal
controls and the raising and management of capital will prove
invaluable to our company as we continue to work toward our
goals of profitable growth and maximizing value for our
shareholders.”
Mr. Tischler received an M.B.A. degree in Finance and Accounting
from the University of Rochester’s Simon School of Business in
1978, and a B.A. in Economics from the University of Rochester
in 1977.
“I am extremely pleased to be taking on the chief financial
officer responsibilities during such an exciting period in the
company’s growth and development,” said Mr. Tischler. “I look
forward to working with the entire Acies team as we continue to
build upon the company’s strong, solid foundation.”
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
