Feb. 2, 2002
CONTACT: CONTACT: Anu Veluchamy, VP VCT
(630) 852-5600

MasterCard and Visa Certify VCP

DOWNERS GROVE, IL. Versatile Card Technology, Inc. (VCT).

MasterCard/Visa International announced today that Versatile Card Private Ltd., India, (VCP), is the only plastic card manufacturer in India to pass its stringent certification.

The security system and facility are among the finest in the plastic card industry, and meet or exceed the standards set by the  worlds largest financial institutions. Security features include card access controlled plant,  closed circuit  cameras, and secure steel vaults.

VCP is a wholly-owned subsidiary of the US-based plastic cards manufacturer, Versatile Card Technology, Inc. (VCT).  VCP is capable of producing bank cards internationally.

The country's estimated card market is more than five million cards and VCP has capitalized on this growing market.  "The debit card market alone is increasing 80 percent a year", said Nick Cooney, VCT's President. VCP has produces 300 million cards a year and also serves as a personalization bureau for over 50 million cards.

VCP has taken advantage of the emergence of SmartCards.  Mr. Rome Jetté, Vice President of SmartCard Development, said "VCP is moving plastic cards from being a commodity to that of a high-tech product.  VCP is a neutral hardware platform provider for Indian software makers who could integrate their software into VCP manufactured SmartCards."  VCP is located in Thirumudivakkam, 25km south of Chennai.