Robin Townend, Former MasterCard International Smart Card Maven, Joins Intellect Electronics Inc.; Townend Appointed Intellect's Sr. Vice President for Worldwide Smart Card Strategy; Brings World-Class Banking and Payment Systems Experience and Industry Networking

Business Wire, Dec 10, 1996

SAN JOSE, Calif.--(BUSINESS WIRE)--Dec. 10, 1996--Intellect Electronics Inc. announces the appointment of Robin Townend as senior vice president, smart card strategy.

Townend, 47, was formerly senior vice president of chip card technology for MasterCard International in New York.

Townend's unique combination of banking and leading payment systems experience builds on Intellect's depth of strategic commitment to the American and worldwide marketplaces.

Thomas Ream, Intellect president, said, "Robin's retail banking background -- nearly 20 years with Barclays -- and depth of smart card industry knowledge, which took him to MasterCard International, will contribute to Intellect's strategic entry into key developing market segments, and to bringing new product offerings from smart card technology into mass use by institutions and individuals."

Townend said, "Intellect is a dynamic company already delivering leading-edge card accepting devices and systems to the financial services market. I am joining this team because they are positioned to have major impact `where the action is,' the point where the cardholder, payment system, the issuer's brand and the merchant come together. Everything has to be processed by the terminal -- it functions as the `gatekeeper,' and is fundamental to secure electronic funds transactions."

"All major payment associations and systems, including VISA, MasterCard, and American Express, are moving from magnetic stripe card technology to a smart card-based platform," Townend said. "Consumers are changing their transaction focus, with more and more banking and shopping being initiated from home or mobile situations. This in turn involves the internet and mobile digital telephony, both requiring added data security. The combination of Intellect's proven technology and worldwide presence will ensure we play a significant role in this market metamorphosis."

Townend will operate out of San Jose, focal point of the firm's Americas group, and worldwide center of competence for smart card, wireless and networking technology in the electronic commerce market. Intellect products are leaders in smart card technology, secure data transmission and electronic funds transfer.

This announcement is made in conjunction with the CardTech/SecurTech '96 West industry trade show opening here (San Jose) today.

Intellect Electronics Inc. is a subsidiary of Intellect Holdings Ltd, a publicly-traded Australian corporation. Intellect products range from smart card readers, payment systems, electronic wallets and mobile terminals to cryptographic processors that secure facilities such as banking networks.

Intellect products are sold in more than 20 countries including The Netherlands, Belgium, Norway, Australia, Singapore, Brazil and the United States.

Intellect's customers include major multinational computer companies such as NCR, Unisys, IBM, Siemens-Nixdorf and Fujitsu/ICL which supply Intellect products to the rapidly expanding global electronic funds transfer market. Current direct customers include major banks and leading retailers throughout the world.

For further information contact Intellect's home page at: http://www.intellect.com.au . -0-

Note to Editor: For photos or more information please contact Brough Communications at 408/430-0100 or http://www.brough.com .

CONTACT: Intellect Electronics Inc.

Thomas Ream, 408/467-0372

or

Brough Communications

Bruce Brough/Jason Taylor, 408/430-0100

bruce@brough.com

jason@brough.com