Press Release

Credit Strains, Increased Use of Prepaid Cards Help PreCash Grow

PreCash Ranked 24th in Deloitte's Technology Fast 50 Program for Texas
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Posted 31 October 2008 @ 01:27 pm ET

HOUSTON, TX -- (Marketwire) -- 10/31/08 -- As credit markets tighten and the economyhiccups, more Americans are using prepaid Visa and MasterCard debit cardsto help control spending and reduce their reliance on credit, a trend thathelped Houston's PreCash be ranked 24th on Deloitte's prestigiousTechnology Fast 50 Program for Texas. In the last year alone, the number ofprepaid debit cards placed by PreCash grew 600 percent.

According to the Federal Reserve Bank, total US Consumer debt (excludingmortgage loans) totaled $2.577 trillion at the end of August 2008. With thereceding economy, many Americans want to cut back. Prepaid debit cards givepeople greater access to services than cash without the risks of overdraftfees or increased debt.

"With credit harder to get, people need alternative ways to spend, but intoday's hi-tech world cash doesn't always cut it," said John Chaney,Chairman and CEO of PreCash, Inc. "Prepaid debit cards, like our Visioncard, help cash-paying consumers access financial services they otherwisewouldn't be able to use. Many consumers use prepaid debit cards to managefinances while still being able to pay bills online; reserve rental cars orairline tickets; pay for gas at the pump and more."

Prepaid cards are similar to traditional debit and credit cards. The mostcommon are network branded prepaid cards. These are branded like mostcredit and debit cards, typically MasterCard or Visa, and they are issuedby regulating banks or other regulated organizations. The big differencebetween a prepaid card and traditional credit and debit cards is that youdon't need a bank account, or a line of credit to get one. All you need iscash, which is loaded onto the card at retail locations or via directdeposit.

Deloitte's Technology Fast 50 Program for Texas is a ranking of the 50fastest growing technology, media, telecommunications, and life sciencescompanies in the area by Deloitte LLP, one of the nation's leadingprofessional services organizations. Rankings are based on the percentagerevenue growth over five years from 2003-2007. PreCash's revenues increased136 percent from 2006 to 2007 alone.

To qualify for the Technology Fast 50, companies must have had operatingrevenues of at least $50,000 in 2003 and $5,000,000 in 2007, beheadquartered in North America, and be a company that owns proprietarytechnology or proprietary intellectual property that contributes to asignificant portion of the company's operating revenues; or devotes asignificant proportion of revenues to the research and development oftechnology. Using other companies' technology or intellectual property ina unique way does not qualify.

Deloitte's Technology Fast 50 program for Texas is co-presented by businesssponsors who are key to the success of this program. Sponsors of the 2008Deloitte Texas Fast 50 include America's 401k, CresaPartners, Gardere WynneSewell LLP, NASDAQ OMX, Porsche and TriNet.

Companies from the regional Technology Fast 50 programs in the UnitedStates and Canada are automatically entered in Deloitte's Technology Fast500 program, which ranks North America's top 500 fastest growingtechnology, media, telecommunications and life sciences companies. For moreinformation on Deloitte's Technology Fast 50 or Technology Fast 500programs, visit www.fast50.com.

About PreCash, Inc.

PreCash provides convenient, real-time payment solutions that convert cashinto electronic payments for consumers who do not use traditional paymentmethods such as credit cards or bank accounts. The company offers prepaidwireless refill, bill pay, deposits, prepaid stored value and payrollproducts. Its intuitive PreCash WebConnect merchant interface makes it easyfor retailers to process transactions for all PreCash products andservices. The company offers its services at more than 30,000 national andindependent retail locations. Founded in 1998, PreCash is headquartered inHouston, Texas, with additional offices in Portland, Oregon. For moreinformation, visit www.precash.com, or www.visionprepaid.com.

About Deloitte

As used in this document, "Deloitte" means Deloitte LLP. Please seewww.deloitte.com/about for a detailed description of the legal structure ofDeloitte LLP and its subsidiaries.

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CONTACT:Jeff FowlerPreCash, Inc.713-600-2350Email Contact


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