NCR Signs OEM Pact with Intellect for High-Security Transaction Terminal Technology; Ongoing Worldwide Cooperation Between NCR and Intellect Brings Proven Leading Edge Terminal Technology Early to U.S. Market

Business Wire, Jan 15, 1997

SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 15, 1997--Intellect Electronics, Inc., today announced an OEM arrangement with NCR Corporation enabling NCR to sell and support a range of Intellect electronic payment devices into the U.S. computing and financial markets.

The relationship benefits both Intellect and NCR. "The continuing evolution of the payment and banking industries requires us to provide a broader range of products than we currently develop and manufacture ourselves," said Phil Kasper, NCR assistant vice president, Consumer Delivery Systems. "Intellect products offer our customers proven leading-edge technology in the critical areas of smart cards, electronic cash and high data security -- all important for near-future banking solutions."

"This is an expansion of ongoing worldwide cooperation between our two companies, most recently demonstrated in a major branch automation sale by NCR to Chase Manhattan using Intellect terminals field-upgradeable to smart card capability," Intellect president Thomas Ream said. "This agreement gives Intellect greater access to U.S. markets, providing the extra profile required to become a major player here."

A number of Intellect products will appear with the NCR logo and integrated into other third party offerings, creating the total NCR banking and finance solution set. The first Intellect product effected by this agreement is the 7270 terminal, which offers the capability to read/write smart cards and read magnetic stripe cards. The 7270 also incorporates the proven Intellect Security Architecture (ISA). Other products will be announced jointly when offered by NCR, according to Ream.

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 U.S.

Intellect's customers include major multinational computer companies, such as NCR, who 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 .

CONTACT: Intellect Electronics, Inc.

Thomas Ream, 408/467-0370

or

Brough Communications

Bruce Brough/Jason Taylor, 408/430-0100

bruce@brough.com / jason@brough.com