Mag-Tek Opens European Office

Business Wire, Feb 19, 1998

CARSON, Calif.--(BUSINESS WIRE)--Feb. 19, 1998--Mag-Tek Inc., an international leading provider of card-technology solutions, strengthened its presence in the European marketplace with the opening of its office in Cheltenham, England, 100 miles west of London.

Mag-Tek Europe will be responsible for coordinating business development in Western and Eastern Europe, the Middle East and Africa.

``Europe is a large market for card technology and is very important to Mag-Tek,'' Lou Struett, executive vice president of Mag-Tek, said. ``Our new office will enable us to work more closely with existing distributors while establishing new distributors and customers in other neighboring markets.''

Struett also announced Steve Poulston as the managing director of the new office. According to Poulston, the new office will dramatically raise the awareness of Mag-Tek and ensure that developments in Mag-Tek programs address the needs of European customers. Customer support will also be improved, allowing calls to Mag-Tek Europe during normal business hours.

Mag-Tek Europe will also be introduced March 19-25 at the annual CeBIT show, the world's largest exhibition of information technology. Poulston and other Mag-Tek personnel from the Los Angeles headquarters office will be located at Hall 23, Stand A42, Booth 3.

Poulston was formerly the European operations manager for American Magnetics. He can be reached at Mag-Tek Europe by calling 44 (0) 1242 223830, faxing to 44 (0) 1242 223831 or e-mailing him at steve@magtek.co.uk.

Mag-Tek (http://www.magtek.com) manufactures an ever-expanding line of card readers, MICR check readers, encoders and motorized readers for financial institutions, OEMs and retailers. Since 1972, its headquarters have been in Carson, with sales offices throughout the United States and international distribution in more than 40 countries.

Mag-Tek, known worldwide as an industry leader in technology and innovation, pioneered magnetic-stripe readers more than 20 years ago.

Mag-Tek technology is used in millions of point-of-sale and financial transactions utilizing debit cards, credit cards, grocery- store checkouts, automated gas pumps, pay phones and airplane-seat phones throughout the world. For more information on Mag-Tek products, call 888/624-8350.

CONTACT: Mag-Tek Inc., Carson

Brenda Schultz, 310/631-8602

or

Shoultz & Associates, White Bear Lake, Minn.

Barry Shoultz, 612/653-0849