Press Release - August 1, 2006

For Immediate Distribution

IRN Payment Systems Partners With Global eTelecom, Inc.

To Offer Gift & Loyalty Card Solutions

Destin, Florida – Global eTelecom, Inc (GETI), announced today that IRN Payment Systems has chosen GETI’s Gift & Loyalty solutions for their partners and merchants.   Integrating Global eTelecom’s customized technology into IRN Payment Systems existing programs will enable merchants to accept and process Gift & Loyalty Cards electronically, thus adding increased value and efficiencies. GETI raising the bar in the Stored Value industry, by providing exceptional support and service combined with flexible and scaleable solutions to meet small, medium and large merchants nationally. 

"This new joint venture responds to IRN’s requirements for a turn key integrated Gift/Loyalty solution for their sales offices and merchants.  GETI is focused on providing superior value added products for the ISO channels. We are very impressed with the integrity and high service levels of IRN and are enthusiastic about the relationship.”  Stated by Christian Murray, National Sales Director, Stored Value, of Global eTelecom.

Tom Della Badia, IRN Vice President, said, “GETI is the perfect solution for our clients gift and loyalty needs.  GETI’s product offering and unparalleled support system, for both new and existing customers, will make this a most successful venture.” 

About Global eTelecom, Inc.:

Global eTelecom provides proprietary electronic check processing and Gift/Loyalty services to over 35,000 merchants nationwide. Global eTelecom’s products are marketed through a sales channel of banks, independent sales offices and credit card processors. Global eTelecom's value added solutions include: Electronic Check Conversion, Traditional Paper Guarantee, ARC Lockbox Conversion, Recurring ACH Debit and Gift/Loyalty Card Processing.  GETI is a wholly owned subsidiary of Verus Financial Management, Inc., a division of Sage Software, Inc.  

About IRN Payment Systems:

IRN has provided electronic payment processing solutions to businesses nationwide for over 18 years. Services include credit card, check/debit card and gift card processing for merchants, retailers, manufacturers, distributors and wholesalers of all sizes, from individual facilities to multiple and chain operations.  

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