Global Payment Technologies Announces Strategic Partnership

Business Wire, July 27, 1998

VALLEY STREAM, N.Y.--(BUSINESS WIRE)--July 27, 1998--

Hosken Consolidated Investments Investing 8.5 Million Rand To Acquire

One-Third Stake In Company's South African Distributor

Company Also Named Exclusive Distributor In South Africa by De La Rue

Systems S.A.

Global Payment Technologies, Inc. (Nasdaq: GPTX)("GPT"), a leading manufacturer and innovator of currency acceptance systems used in the worldwide gaming, beverage and vending industries, today announced the purchase by Hosken Consolidated Investments ("HCI") a leading South African investment holding company, of a one-third interest in GPT Holdings SA Pty Ltd ("GPT-SA"), GPT's distributor in South Africa. The deal is valued at 8.5 million rand (approximately $1.4 million).

Terms of the transaction called for HCI to purchase certain shares directly from GPT and the Bevin Trust (GPT-SA's founding shareholders) as well as additional shares directly from GPT-SA. As a result of the transaction, GPT will recognize a pre-tax gain of approximately $0.06 per common share in its most recent fiscal quarter ended June 30, 1998. The company said the capital infusion will be used by GPT-SA to retire outstanding debt and for working capital purposes.

Ed Seidenberg, GPT President and CEO, said, "HCI is a prominent name in the South African business community and we are excited to have them as a strategic partner. We're confident that their addition to the already strong GPT-SA team will lead to increased opportunities in the fast growing South African market."

The company also announced that it has been selected by De La Rue Systems S.A., a wholly owned subsidiary of De La Rue Cash Systems South Africa to be the exclusive distributor of De La Rue cash handling equipment for commercial sales throughout South Africa. De La Rue is the world leader in manufacturing of cash handling equipment such as note counters, note sorters, Teller Cash dispensers, ATM's and a comprehensive range of coin handling equipment. Seidenberg added, "Combined with the exclusive distribution agreement that we signed earlier this year with Ingenico SA, a worldwide leader in electronic funds transfer/point of sale products, GPT-SA is now uniquely positioned as a leading provider of payment acceptance and automation, and cash handling systems throughout the South African market."

Global Payment Technologies, Inc. is a U.S.-based designer, manufacturer, and marketer of currency acceptance systems used to automate payment and validation in the gaming, beverage and vending industries worldwide. The company's proprietary technologies are among the most advanced in the industry.

    CONTACT:  Tom McNeill
               Vice President and Chief Financial Officer
               (516) 256-2162