Acies Corporation Launches National Marketing Campaign Promoting Contactless Transaction Technology

With "Acies Best in Contactless'' Program, Retailers Receive Free Payment Processing Equipment s

NEW YORK- (BUSINESS WIRE) - June 5, 2006 - Acies Corporation (OTCBB: ACIE), a financial services company that specializes in providing payment processing and online banking services to small, medium and large-size merchants across the United States, today announced the launch of a month-long national marketing campaign to promote widespread adoption of the latest innovation and convenience in payment processing - contactless transaction technology. During the month of June, Acies is offering retailers the opportunity to participate in a special promotional initiative, entitled "ABC (Acies Best in Contactless) Program".

As one of the industry's foremost advocates and marketers of contactless payment processing solutions, Acies is taking an aggressive stance in helping to educate retailers and the Company's national network of independent sales organizations (ISOs) on the purchasing convenience of contactless transactions. Contactless transaction processing utilizes Radio Frequency Identification technology (RFID) and enables a credit or debit card to be 'waved' at a special reader. The reader communicates with the card (or other device such as a key fob) via a radio signal to verify the transaction.

With the ABC Program program, retailers will receive free placement of state-of-the-art point of sale equipment, including a state-of-the-art ViVOtech 4000 contactless reader, and chargeback protection of up to $50.00 per transaction, with no receipt or signature required.

Harrison Fisher, Senior Vice President of Sales and Marketing at Acies, noted, "Consumer buying habits are undeniably changing in favor of cashless payments, and the process has been made even easier with secure contactless settlements, allowing consumers to significantly accelerate their purchasing experience. All of the major bank card issuers have already placed millions of contactless-enabled cards in the hands of consumers across the country. Acies is proud to be one of the industry's leaders in helping to promote widespread adoption of this exciting technology and will be taking proactive steps to educate our affiliated ISOs, independent sales agents and merchants on the numerous benefits made possible by contactless technology. With our new campaign, marketing the technology is as simple as 'ABC'."

To further support its promotional efforts, Acies will also begin hosting a monthly series of value-added tele-workshops exclusively for industry ISOs. The first event, "Leading the Way in Contactless", is scheduled for today. Harrison Fisher will be joined by Ms. Shantell Jones, Sales Director at ViVOtech Inc., to discuss current and future applications in contactless transaction processing and its target industries.

Retailers, ISOs or other industry professionals interested in learning more about contactless transaction technology and the ABC Program, should contact Harrison Fisher at 800-361-5540, extension 112.
About Acies Corporation (pronounced "ay-see-us")

Headquartered in New York City, Acies Corporation is a financial services company that, through its wholly owned subsidiary, Acies, Inc., specializes in providing payment processing 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 and the ability for customers to apply for an on-line bank account and pay bills electronically. For more information, visit http://www.aciesinc.com.

"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, including the risk factors in its form 10-KSB for the year ended March 31, 2005. 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.

For More Information, Please Contact: 

Dodi Handy President and CEO Elite Financial Communications Group (407) 585-1080 acie@efcg.net