Acies Corporation Expands National Sales Leadership Team

NEW YORK- (BUSINESS WIRE) - August 10, 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 expansion of its national sales leadership team with the appointment of Marc Moeller as Vice President - Direct Sales. Moeller will report directly to Harrison Fisher, Senior Vice President - Sales and Marketing.

"Marc is a welcome and highly talented addition to Acies' national sales team and is expected to play an important role in helping our Company to pursue greater market penetration through success in our direct channel," stated Fisher.

Prior to joining Acies, Moeller served as Director of Bank Integration, Chase Merchant Services (CMS) at First Data Corporation, where he was responsible for defining sales and marketing strategies for CMS' Small Business Division, and for creating and managing the relationship between CMS and all other business units within JPMorgan Chase Bank. During his tenure at CMS, Moeller increased bank sales by over 500%. As Director of Sales, Europe for First Data, Moeller was charged with establishing and overseeing all aspects of Merchant Sales, including the building and training of the division's new sales team.

While with Wells Fargo Merchant Services, First Data's Joint Venture with Wells Fargo Bank, Moeller rapidly rose through the ranks, first beginning as an Account Executive in the Company's San Diego office, where he distinguished himself as one of the top Account Executives in the country. Within a four year period, he was promoted to Territory Sales Manager, then District Sales Manager, Sales Integration Manager and finally Area Sales Manager for Southern and Central California, responsible for overseeing 400 Wells Fargo Branches and a sales team of 50. Moeller is a graduate of the University of California, San Diego, where he earned a BA degree in Theatre.

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