CPI, which was established in 1992 as a pioneer in the prepaid long distance calling card industry, has become a major distributor of prepaid wireless and other services to convenience store chains. CPI provides prepaid processing services for 30 convenience store chains in 21 states. CPI distributes prepaid services through a network of approximately 1,500 retail locations, all of which have electronic distribution of prepaid services via POS terminals.

CPI provides several types of prepaid products, including prepaid wireless, prepaid long distance, prepaid giftcards, age verification and other services. CPI distributes prepaid airtime for all the major U.S. wireless carriers, including ALLTEL, AT&T, Cingular, T-Mobile, Tracfone and Verizon, as well as several regional carriers.

"We are excited about combining the TeleBuck$ brand and product offering with the largest electronic prepaid service provider in the world," said Charlie Stimson, CPI president. "We believe that our extensive experience working with convenience store chains complemented by Euronet's transaction processing expertise creates an ideal long-term partner for our convenience store customers. PaySpot faces many opportunities in the U.S. market, and this acquisition puts us in a better position to establish more relationships with convenience store chains, while continuing to provide the excellent service for which we are known in the convenience store industry."

"PaySpot continues to solidify its position as a leader in the U.S. prepaid market, and the acquisition of CPI adds to PaySpot's strong management team two individuals, each with over 10 years of experience servicing convenience store chains with reliable prepaid products and services," said Daniel R. Henry, PaySpot, Inc. president and Euronet Worldwide, Inc. president and COO. "The growth potential in the U.S. market is accelerating as the shift to electronic methods of prepaid airtime distribution continues, and PaySpot is positioned to benefit from this trend. We continue to see strong growth in the companies we have acquired in the U.S. prepaid market and are excited about the opportunities ahead for PaySpot."

The entire purchase price for the shares of CPI will be paid by PaySpot through the issuance of Euronet stock. With this acquisition, PaySpot and its affiliates have obtained rights under CPI's licenses to U.S. Patents 5,511,114; 5,577,109; 5,721,768; and 6,502,745 for the provision of POS activation and recharge of stored value cards and accounts. The first of these patents was filed in 1994.