News

TASQ Technology Expands Distribution Agreement With Lipman for NURIT

February 26, 2003

"In response to the growing demand for Lipman products, we are pleased to renew and extend our relationship with Lipman," said Ron Chaisson, TASQ's president.

According to Chaisson, TASQ's strategic initiatives include providing product solutions that offer customers quality and customization, which are major factors in TASQ's clients' purchasing decisions and ultimately to TASQ's continued success.

"TASQ has been an integral part of our success as we continue to increase market share," says Mony Zenou, Lipman's president and CEO. "They are active partners in the deployment, promotion and support of our products, and this combination has been invaluable to Lipman. Over the next year, we look forward to rolling out a number of systems designed to bring the relationship between the manufacturer and distributor to even greater levels of partnership and support."

Powered by NURIT APPS(tm) Value Added Applications, Lipman features both landline and wireless point-of-sale (POS) solutions under the NURIT brand name. This complete product line includes wired and wireless POS terminals, electronic cash register (ECR), ATM and kiosk solutions for the retail, restaurant, mobile commerce, direct marketing and fleet markets.

About Lipman USA, Inc.

Lipman (www.lipmanusa.com) is a wholly owned subsidiary of Lipman Electronic Engineering, Ltd. Operating worldwide, Lipman ranks among today's premier providers of robust and highly customizable electronic payment solutions. Lipman is the leading supplier of wireless point-of-sale terminals in the United States, as manufacturers of fixed and handheld transaction solutions that seamlessly integrate hardware, application and back-office software. Lipman uses technology to help processors, providers and the merchants they serve do business better. Lipman Electronic Engineering, Ltd. is listed on the Tel Aviv Stock Exchange under the symbol LPMA.TA.

About TASQ Technology

Founded in 1994, TASQ Technology, leading outsource provider for the payment processing industry, enables e-commerce with 21st century service, including the latest advancements in credit, debit, check, Internet and smart card technology. TASQ provides an extensive distribution channel of resellers with an end-to-end solution through information management, integrated logistics and growth infrastructure. Through key strategic relationships with financial institutions and independent sales organizations (ISOs), TASQ handles thousands of deployments every day with unsurpassed accuracy, managing more than two million merchants nationwide. TASQ is a majority-owned subsidiary of First Data Corp., and a unit of First Data Merchant Services. For more information, please visit the company's Web site at www.tasq.com.

From time to time, the company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower-than-expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third-party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in the document regarding industry and revenue trends, new markets, new product introductions, technology adoption, and future business activities should be considered in light of these factors.