YourNet's Innovative Community-Based Smart Card System Utilizes Siemens and Intellect Technology; Industry leaders' combined technologies will allow consumers to access multiple services through a single YourNet card

Business Wire, Jan 20, 1997

CUPERTINO, Calif.--(BUSINESS WIRE)--Jan. 20, 1997--YourNet, Inc. today announced that it will install the United States' first community-based application for multi-use smart cards, utilizing technology from Siemens Components, Inc. and Intellect Electronics, Inc.

The pilot community will be announced this spring.

This network allows multiple technologies and consumer services to be combined and offered to an entire community through a single YourNet smart card. Intellect will provide its world-proven line of high-security, easily-upgradable terminals, which accept both magnetic stripe and smart cards, and Siemens will supply its leading-edge CR80S Crypto Controller for the YourNet smart card. YourNet, the network's creator, developed the high security operating system that drives the project.

YourNet's smart card is essentially a computer that consolidates bank cards, phone cards, driver's license, identification cards, library cards and virtually any other card that consumers now carry into one card. The card will also provide value-added services, including promotional and loyalty programs for restaurants, grocery stores and other retail outlets. More advanced than other smart card systems, YourNet will provide multiple functions in its first generation cards. Although other smart card developers talk about adding multiple functions over the long term, their cards currently only store electronic cash.

"Siemens and Intellect clearly contribute superior technologies to YourNet's community-based smart card network. Siemens' crypto technology and Intellect's secure terminal architecture fully enable the high-security capabilities of YourNet's operating system and assure that our community network cardholders will be protected," said YourNet President Curtis Crawford.

"YourNet's comprehensive smart card approach will utilize the most advanced enabling technologies, including Intellect terminals," said Thomas Ream, Intellect president. "We are enthusiastic about participating in this project with them and Siemens Components, because it is a precursor of multi-function applications in the U.S. market."

"YourNet's use of the Siemens CR80S Crypto Controller for its multi-function smart card program represents one of the most advanced uses of this technology to date," said Chris K. Goeltner, director smart card ICs, Siemens Components, Inc. "We expect the Crypto Controller's high security and large memory capacity, used in conjunction with YourNet's proprietary open architecture operating system, to bring a wide range of new benefits to the consumer."

YourNet, Inc., a Kansas City-based company with offices in Cupertino, Calif., creates community networks that provide advanced consumer and business services through proprietary smart card technologies. YourNet delivers direct marketing services through its community networks, and markets its secure, open architecture smart card operating system and components to the smart card industry. Additional information about YourNet's products and services is available on its Web site, http://www.4yournet.com .

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

Siemens Components, Inc. (SCI), with its headquarters in Cupertino, Calif., is a leading supplier of electronic components for automotive, communications, consumer electronics, data processing, smart cards and memory applications. SCI offers a broad portfolio of electronic components ranging from communications integrated circuits to lithium niobate crystals. The company is a leader in communications products, smart power products, embedded DRAM technology and custom optoelectronics. SCI represents the Siemens Semiconductor Group based in Munich, Germany, which had sales of approximately $3 billion worldwide in fiscal year 1994/95 as well as the Siemens Passive Components Group which had sales of $1 billion during the same period. Additional information on the company is available at Siemens' Web site at http://www.sci.siemens.com .

CONTACT: For Intellect Electronics, Inc.:

Brough Communications

Bruce Brough, 408/430-0100

E-mail: bruce@brough.com

or

For YourNet:

Blades & Associates

Susan E. Parker, 816/941-7800

E-mail: blades@unicom.net

or

Siemens Components, Inc.

Tamara Polahar, 408/777-4959

E-mail: Tamara.polahar@siecomp.com