Michael P. Pinto Appointed to Clarity Payment Solutions' Board of Directors

Business Wire, June 10, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--June 10, 2003

Clarity Payment Solutions, Inc., a leading developer of prepaid electronic payment solutions and processor of payment transactions for emerging and specialty markets, has announced the appointment of M&T Bank executive vice president and chief financial officer Michael P. Pinto to its Board of Directors.

"We are pleased to welcome Michael Pinto to our board," said Anil D. Aggarwal, Chairman and CEO of Clarity. "His exceptional insight and broad experience in the financial services industry combined with his proven leadership will be a valuable asset to Clarity as we continue to be a leading provider and processor of prepaid electronic payment solutions."

"I am very pleased to join Clarity's board of directors," said Mr. Pinto. "I look forward to working with Clarity's board members to help the company solidify its leadership position in prepaid payments processing."

Michael P. Pinto is an executive vice president and chief financial officer at M&T Bank and is in charge of the company's Finance Division, Technology and Banking Operations Division, and its Corporate Services Group. M&T headquartered in Buffalo, New York, has more than $50 billion in consolidated assets, 700 branches and 14,000 employees, with banking branches in New York, Pennsylvania, Maryland, Virginia, West Virginia and the District of Columbia.

About Clarity Payment Solutions

Clarity Payment Solutions develops prepaid electronic payment solutions and processes payment transactions for emerging and specialty markets. The Company provides solutions for companies in numerous vertical markets that include incentives, consumer promotions, healthcare, insurance, unbanked, teen payments and payroll, transforming their legacy, paper-based payment processes into efficient and cost-effective electronic systems. The Company's proprietary payment processing platform supports multiple payment vehicles such as debit, stored value, chip and private label, and incorporates internet-enabled and other technologies that are specifically designed to provide competitive advantages within each market. Clarity Payment Solutions is based in New York City with an office in Ohio. For more information visit www.claritycard.com.