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Cadmus signs EFTPOS agreement with WestpacTrust

FOR IMMEDIATE RELEASE


Cadmus signs EFTPOS agreement with WestpacTrust

Auckland – 28 June 2001: Payment solutions and data management services provider, Cadmus Technology Ltd (NZSE: CTL) today announced that WestpacTrust has agreed to become a major reseller of its line of Cadmus EFTPOS terminals.

WestpacTrust will distribute the terminals to its merchants as part of an integrated range of banking solutions being offered across its customer base.

The package will include EFTPOS terminals, card merchant services, transactional banking and cash handling facilities, lines of credit and personal banking services.

Ian Bailey, Managing Director of Cadmus, says the arrangement is an exceptional opportunity for the company. “It places Cadmus in a strong position to expand its EFTPOS business, as WestpacTrust currently has the largest merchant base in New Zealand.

“WestpacTrust will be able to take advantage of our local experience in selling and servicing EFTPOS terminals to merchants, via our branch network throughout the country.”

WestpacTrust General Manager Business, Julian Nalepa, says the Cadmus deal supports the bank’s aim of offering tailored EFTPOS solutions that add value to customers’ businesses.

“WestpacTrust is committed to meeting the needs of our customers, whether they be corporate, Government, or medium or small businesses. This agreement with Cadmus is another example of how WestpacTrust can bring together a range of products and services that can be tailored into a package to match a customer’s business patterns and so create a complete banking solution. It's initiatives such as this which underpin WestpacTrust’s leadership in the payments and business markets.”

The rollout of the new service will begin this month.

Cadmus recently acquired GDC Communications EFTPOS division to increase its share of the national EFTPOS terminal market.


Cadmus now has branches in Whangarei, Auckland, Hamilton, Rotorua, Tauranga, Napier, Palmerston North, Wellington and Christchurch.

ENDS

About Cadmus

Cadmus Technology Limited is an end-to-end payment solution and data management services provider. It operates a number of unique interfaces into the NZ EFTPOS infrastructure enabling the capture and processing of information relating to customer spend, as well as the processing of in-house and private label cards.
Clients include the Vodafone Warriors Rugby League, Bartercard, Stihl, TrustPower, and many of the major motor vehicle importers and distributors.
Cadmus has a 50% interest in PosPower Limited, via a joint venture agreement with TrustPower, a 50% interest in a joint venture with E-Smart Card Technologies Limited and a 4.55% strategic shareholding in Insight Technologies (Asia Pacific) Pty Limited.
For more information, please visit www.cadmus.co.nz

About WestpacTrust
WestpacTrust is New Zealand’s leading full service bank with 1.3 million business and personal customers. WestpacTrust is the New Zealand division of Westpac Banking Corporation, which is incorporated in New South Wales, Australia. For further information call 0800 177 377 or visit www.westpactrust.co.nz.

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