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SmartCard Marketing Systems Inc. (PINKSHEETS: SMKG) Corporate Update With Regards to Share Buyback Plan SAN ANTONIO, TEXAS--(MARKET WIRE)--Aug 28, 2008 -- As stated by SmartCard Marketing Systems Inc.(Other OTC:SMKG.PK - News) "Management is pleased to announce that management
has entered into discussion with 2 Private Equity Firms
in the US with the intent of purchasing back upto 10mm to
15mm shares on the open market (equivalent to a min of 5%
of authorized shares or 11% of free trading float). We believe
strongly that this is a value proposition and commitment
from Management to demonstrate the existing and potential
growth of (Other OTC:SMKG.PK - News) business. We have not finalized
an agreement but feel that the interest from Private Equity
groups is favorable and allows management to be transparent
in its decisions. It is our intent to build investor value and bring larger investment institutions to (Other OTC:SMKG.PK - News) as focus on the Money remittance segment, Prepaid Cards and Pin Debit is gaining strong momentum with existing merchants vamping up and new merchants beginning to startup making Velocitymoney.com a leader in online and off-net payment services. We seek safe harbor. Contact: Contacts:
SmartCard Marketing Systems Inc.
Max Barone
CEO
1-866-774-2555
maxbarone@gosmartcard.com
Source: SmartCard Marketing Systems Inc.
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