HP and i-Transact Team to Deliver FSI Solutions in Asia Pacific

Teaming Agreement to Broaden Offerings for Both Companies

Kuala Lumpur, March 1, 2005 i-Transact and HP announced today the signing of a teaming agreement Asia Pacific (AP) regions. The agreement allows each company to partner with the other to jointly deliver the two companies’ products and services to customers in the region specifically in the areas of ePayments and transaction security. This allows each company to significantly broaden the portfolio of solutions it can offer to its customers.

"By combining the networking expertise of i-Transact with the systems integration and operations support systems capabilities of HP, customers in Asia Pacific will have access to a breadth of strong technical solutions."

Under terms of the agreement, i-Transact will provide products and engineering services for both wireless and wired networks. The i-Transact product families involved in the agreement include ePayment switching and payment gateway solutions. HP will provide systems and network management integration, operations support systems (OSS), network operations center (NOC) and billing services.

"The signing of this agreement gives both HP and i-Transact a significant market advantage in our ability to provide more comprehensive solutions to our customers," said Randall Choo, Chief Executive Officer for i-TransAct Technologies. "This cooperative relationship will make it easier for customers to manage their infrastructure and assets."

About HP

HP annual R&D investment of nearly $4 billion (USD) fuels the invention of products, solutions and new technologies. We produce an average of 11 patents a day worldwide. HP Labs provides a central research function for the company which is focused on inventing new technologies to improve our customers' lives, change markets and create business opportunities.

Millions of people around the world use HP technology every day. HP is:

• the largest consumer IT company
• the world's largest SMB IT company
• a leading enterprise IT company

Our strategy is to offer products, services and solutions that are high tech, low cost and deliver the best customer experience. Our team of 150,000 employees does business in more than 170 countries. Revenues reached $79.9 billion for the fiscal year that ended October 31, 2004. Information about HP and its products can be found at www.hp.com

About i-Transact

i-TransAct, an MSC status company, has several man-years of experience in e-Payments and transaction security. We deliver state-of-the-art secure e-Payments solutions regionally in Asia-Pacific.

Our experts have developed a suite of enterprise software-based solutions expressly designed to meet your business needs covering the complete e-payment life-cycle. With a carefully crafted blend of home-grown technology and best-of-breed technologies from our partners, i-TransAct's offerings give financial institutions, merchants, e-tailers and service providers, future-proofed, secure, standards-based and yet affordable solutions to address a wide variety of their financial transaction processing needs.

Our solutions are designed to ensure that end users have the best in terms of convenience, ease-of-use, choice, confidentiality, efficiency and low cost delivering the promise of 'anytime, anywhere, anyone'. For corporate customers, we have designed integrated e-payment solutions that integrates easily into their financial systems, ensuring an efficient and enterprise-wide e-Payments' facility.