PCBM and SmartNexus To Launch Industry Leading Smart Card Program; Pay Day Lender, Smart Card Turn-Key Reach Milestone Agreement

Business Wire, May 31, 2000

Business Editors

CLEAR WATER, Fla.--(BUSINESS WIRE)--May 31, 2000

Launching the first large-scale smart card system in the payday loan industry, Fast Paycheck Advance of Florida Inc., a wholly owned subsidiary of Pinnacle Business Management (OTCBB: PCBM), has teamed with SmartNexus, Inc., the nation's first turn-key smart card solution, to put the power and flexibility of smart cards in the hands of a broad segment of the population.

Under terms of the agreement, SmartNexus will provide PCBM with a fully operational SmartNexus smart card system for distributing funds to customers. Customers will receive an "instant issue" smart card, good for making purchases via all point-of-sale systems and other smart card applications.

The "instant issue" cards will be upgradeable to so-called "full-service smart cards" at kiosks or online through the SmartNexus web site (www.smartfederal.com). PCBM expects to issue 1 million of the cards in the first year of the program, with the first cards expected to be issued in July.

Smart cards account for more than 18 percent of the world's plastic cards used for financial, identification and other record keeping purposes. While the smart card has been widely used in Europe and Asia, and are a staple of American military life, they are just now becoming common place in the United States.

New government directives combined with the explosion of Internet business have created a critical mass for smart card opportunities. Smart cards will mean that anyone with an Internet and smart-card-ready PC, regardless of economic status, can conduct e-commerce at will. Already, major manufacturers are producing computer key boards with smart card readers and leading computer operating systems are smart card capable.

"Introducing smart cards to our industry is a natural progression for PCBM. This clearly is a coming economic revolution, and we have a responsibility to ensure that our customers are equipped to deal with it," said Bruce Hall, president of PCBM. "We feel that smart cards will totally change the way Americans do business, and we are proud to be on the cutting edge of this trend."

"Putting smart cards in the hands of Pinnacle's customers is just the first wave in the coming explosion of smart cards in America," said Cindy Abbott, president of SmartNexus. "We are thrilled that a growing, reputable company like Pinnacle has chosen to use our services to be ahead of the curve. We look forward to helping them make their customers happy."

About Pinnacle Business Management Inc.

Pinnacle Business Management is in the business of advancing small loans until payday through their wholly owned subsidiary, Fast PayCheck Advances, Inc. and lending money on motor vehicle titles (Title Loans). Through the branded Pinnacle Cash Cards, and integrating e-commerce and electronic funds tracking and transfer technology, Pinnacle will give new opportunities to those consumers who have been shut out of the economic and E-Commerce mainstream for various reasons. For more details on these and other PCBM activities, refer to the press releases at http://www.pcbm.com.

About SmartNexus, Inc.

In January, 2000, Smart Nexus was formed by an experienced group of successful business leaders from a variety of industries that are moving to the use of smart cards. Their vision is to bring the flexibility, security, reliability and power of smart cards to America, through a shared card services infrastructure. SmartNexus is a product brand name and servicemark of SmartNexus, Inc. For more information, contact Cindy Abbott at (860) 245-3934 or log on to www.smartfederal.com.

Safe Harbor for Forward-Looking Statements: Except for historical information contained herein statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties, include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.