TIO Networks, Tranax Form Alliance For Hybrid ATM Initiative

As part of the joint initiative, Tranax has developed a new Hybrid kiosk which enables the Tranax Mini-Bank 4000 series ATM to offer TIO Networks' suite of financial services. TIO's services include bill payment, stored value card dispensing and reloading, and prepaid services. TIO networks will process all transactions for financial applications, except for the traditional ATM services. TIO's capabilities allow real-time intelligent links to a number of the largest billers in the U.S. including telecommunications companies and utilities.

"Tranax and TIO Networks have taken our strengths in secure financial transactions to create a new self-service platform that will allow customers to get cash, pay bills and buy pre-paid cards all at one place," commented Dr. Hansup Kwon, President and CEO of Tranax Technologies, Inc. "We are providing retailers and other businesses with the ability to serve their customers with a broad array of financial transactions more quickly and conveniently than ever before."

"The Mini-Bank 4000 series represents the best-in-class convergence of ATM and self-service functionality, bundled in a cost effective hybrid ATM solution. Combining our processing capability with a hybrid ATM is a cost effective way to expand our presence in this growing market," said Hamed Shahbazi, Chairman and CEO of TIO Networks Corp.

TIO Networks Corp, a strategic investment of Hewlett Packard, is building the largest and most convenient national multi-retailer network of financial services kiosks for the "cash preferred" consumer marketplace in North America. The company leverages its core competencies in self-service bill payment processing, financial services aggregation and automation to create financial viability for its network and its location partners. With more than 750 locations and 6 top tier corporate owned convenience store chains participating, the TIO brand symbolizes safe secure access to key financial services. TIO Networks' clients include: Circle K, ExxonMobil, Cingular Wireless, Speedway SuperAmerica, Cricket Communications, COX Communications, Memphis Light Gas and Water (MLGW) and Qwest Communications. For more information, please visit www.tionetworks.com.