STRATEGIC PARTNERS
March 27, 2000
ATLANTA -- ebank.com, Inc., an online bank specializing in the small business market, has completed a previously-announced agreement with Talisman Technologies, Inc., a privately-held company that owns or controls software and other technology used to provide products and services using Internet protocols through ATMs. The transaction gives ebank.com a 15-year exclusive license to use Talisman's technology in the U.S. and a 9.9 percent ownership stake in Talisman. In exchange, Talisman receives a 15-year exclusive license to use ebank.com's trademarks, business plans, expertise and marketing materials outside of the U.S., and a 9.9 percent ownership interest in ebank.com. "Completing this transaction with Talisman will allow ebank.com to configure and install ATMs in strategic locations around the country, thus giving our customers the option of conducting their business through our Web site or through an Internet-enabled ATM," said Rich Parlontieri, ebank.com chairman and CEO. Customizing Talisman's advanced ATMs to connect directly to the Web site will give ebank.com customers access to a variety of ebank.com's products and services, including deposits, withdrawals, fund transfers, bill payment, access to credit lines, smart cards and links to its strategic partners. Eventually, ebank.com anticipates adding other products and services such as event tickets, payroll, targeted advertising, stock quotes, news and online shopping. "We expect to have approximately 500 ATMs up and running by the end of 2000 to serve the growing small business needs of our clients," Parlontieri said. "Ultimately, our alternative delivery network will give our customers the flexibility of conducting their banking business in a time saving and cost effective manner without the constraints of a traditional bank." Sutro & Co., Incorporated, which ebank.com has retained to provide investment banking services, advised ebank.com in connection with the Talisman transaction.
