Financial Highlights for the Six Months Ended September 30, 2007 Compared to Six Months Ended September 30, 2006:

• Revenues totaled $6,645,494, a 10% increase over revenues of $6,028,439.

• Gross margin increased 5% to $719,216, up from $688,510. As a percentage of revenues, the margin was unchanged from that of the prior year-to-date period. 

• G&A expense increased 3% to $1,127,739, representing 17% of total revenues, compared to $1,097,460, or 18% of total revenues in the prior year period.

• Net loss increased 16% to $476,398, or $0.01 loss per share, compared to a net loss of $408,950, or $0.01 loss per share. The increase in net loss was principally the result of having interest expense of $67,875, whereas we had no interest expense in the prior year.

Oleg Firer, President and Chief Executive Officer of Acies, commented, “Acies continues to enjoy year-over-year revenue increases, but we are far from satisfied with the level of growth exhibited. We are continuing to implement our overall strategic plan, with a focus on sales and marketing initiatives to grow our merchant account portfolio, effective monitoring of revenue and expense related to merchant processing to increase margins, and control over G&A expense, all of which should enhance the bottom line and move us closer to our goal of reaching profitability in the near-term.”

Firer added, “The payment processing landscape has seen a great deal of change over the past several years, and Acies has been flexible and nimble in the implementation of its business plan to keep up with the dynamics of the industry. We are still focused on our primary goal of maximizing value over the long-term for our loyal shareholders.”

About Acies Corporation (pronounced "ay-see-us")r="#606060">About Acies Corporation (pronounced "ay-see-us")out 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: 

Acies Corporation Jeffrey A. Tischler Executive Vice President and Chief Financial Officer 212-931-5182 jeff@aciesinc.com