Acies Corporation
Appoints Industry Expert Jeffrey D. Klores to its Board of
Directors
NEW YORK, May 18, 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 the appointment of
industry veteran Jeffrey D. Klores to the company’s Board of
Directors.
Mr. Klores currently is Vice President of Sales for the Eastern
U.S. and Canada for Santa Clara, Calif.-based ViVOtech, whose
breakthrough technology is driving next generation electronic
payments worldwide. With the ViVOtech’s technology, customers
can make contactless payments with radio frequency (RF) enabled
credit cards, access cards and cell phones at existing
point-of-sale systems, including the next generation of RF
payment transactions of MasterCard, VISA and American Express.
“Mr. Klores’ deep background in payment processing and credit
cards, with more than 20 years of sales and marketing management
experience, represents an enormous advantage to our company,”
said Acies President & CEO Oleg Firer. “His keen insights into
the dynamics of our ever-changing marketplace will significantly
strengthen our Board.”
Mr. Klores’ experience includes InfoSpace, where he was involved
with business development activities with major U.S. banks and
financial services organizations. He has also worked at First
Data Corporation, where he helped create the first merchant
processing alliances with major domestic-based-banks, and at
EDS, where he was responsible for sales to credit card issuing,
acquiring, and debit card processing banks.
At Norwest Card Services, he led the merchant acquiring, card
issuing, debit and correspondent data processing sales efforts
across the United States. At Control Data Corp. he was
responsible for managing the transaction processing
relationships of major banks and retailers.
Mr. Klores holds a Bachelor’s Degree in Marketing from the
University of Arizona and an M.B.A. in Management from Western
International University.
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
