BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Nov. 1, 2005-- CYOP Systems International Inc. (OTCBB:CYOS), a leading provider of online gaming software and operator of games portals, is pleased to announce that it has signed a letter of intent with Affordable Telecommunications Technology Corporation (ATTC) (Pink Sheets: ATCT) whereby ATTC shall be providing CYOP with payment solutions in Asia and CYOP shall be providing its licensed CrediPlay Games and RedFelt Poker Software to ATCT. Under the terms of the LOI, Affordable Telecommunications Technology Corporation will be providing CYOP with pre-paid game card technology that allows players to pre-pay for gaming credits for use on CYOP's network of gaming sites. ATCT will handle the distribution of these cards through various distribution channels including online websites such as www.12buzz.com and www.7123000.com In accordance with the LOI, CYOP will provide ATCT with its licensed CrediPlay software and RedFelt Poker Software where people play games and in tournaments for cash and prizes. According to Susan Lynch, director of Global Debit Fraud Management for MasterCard International, prepaid cards are estimated to be a $2 trillion industry. An according to Visa Asia Pacific executive vice president and general manager, marketing and product sales Rajiv Kapoor, "Prepaid Cards have massive potential in Asia Pacific, offering a convenient payment tool for the 1.5 billion adults who do not have a bank account and another 360 million banked adults who are not eligible for credit cards." And a new survey from Aite Group predicts that by 2009, the market for prepaid card processing will be as large as that for debit and ATM card processing in 2004. Beyond 2009, Aite predicts prepaid card processing to redefine competition among card issuers, with third-party processors well-placed to take market share as the card networks continue to struggle to handle prepaid card processing. Mitch White, CEO of CYOP, stated, "As we increase our presence in the Asian marketplace, we need to be able to address payment solutions that differ from North America. Pre-paid cards are the norm for many Asians who don't have the same access to banking and credit card providers. In Singapore for example, the prepaid phone card market has seen an exponential growth of some 120 times since the cards were introduced in 1999. Our goal is to provide as many payment options as possible for our players, allowing them to play for cash and prizes on out network."
About CYOP
CYOP is a provider of multimedia transactional technology solutions and services for the entertainment industry and a developer of online games, poker, and bingo. The Company's range of products and services include financial transaction platforms for on-line video games, licensed online gaming software, gaming websites, poker portals and integrated e-commerce transaction technology for on-line merchants. CYOP's central games portal, www.SkillArcade.com, features virtual games where people play popular skill games against other players and compete in tournaments to win real money prizes. CYOP's Software may be viewed at www.RedFelt.com, its play for cash poker site at www.TenSeatPoker.com and it Chinese site at www.CrediPlay.cn. For more information please visit www.cyopsystems.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, and risks associated with competition.
Play Games. Win Games. Make Money. (TM)
KEYWORD: ASIA PACIFIC NORTH AMERICA CALIFORNIA UNITED STATES SINGAPORE INDUSTRY KEYWORD: ENTERTAINMENT CASINO/GAMING ELECTRONIC GAMES TECHNOLOGY SOFTWARE TELECOMMUNICATIONS MERGER/ACQUISITION PRODUCT/SERVICE SOURCE: CYOP Systems International Inc.
CONTACT INFORMATION: CYOP Systems International Inc. Scott Carley, 310-691-2585, ir*cyop.org or Affordable Telecommunications Technology Sutida Suwunnavid, +6668884665 or Affordable Telecom USA Steven Bethke, 832-814-0673 Info*atct.us
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