Craig Thomson, currently the President and Chief Executive Officer of the Corporation's subsidiary Beanstream Internet Commerce Inc., will be assuming the position of President of LML Payment Systems Inc. and will oversee the Corporation's business and operations in both Canada and the United States. Mr. Thomson was the original founder of Beanstream and has been a recipient of the ``Entrepreneur of the Year Award'' in manufacturing, wholesale and distribution from Ernst and Young for the Pacific Canada region and has over 15 years of experience leading high technology companies.

Chris Koide, currently the Chief Operating Officer of the Corporation's Beanstream subsidiary, has been promoted to Executive Vice-President -- Operations of LML Payment Systems Inc. In his new role, Mr. Koide's responsibilities will be expanded to include the operations and business development segments of the Corporation's businesses in both Canada and the United States. Mr. Koide has over 15 years experience in national and international corporate banking, with a focus in the areas of business and financial risk analysis, securitization, financial engineering and cash management.

"Today, we are pleased to announce these two management appointments. The addition of these two gentlemen provides greater depth and bench strength to our management ranks. Both Craig and Chris have been instrumental in the success of Beanstream, making it the premier bank neutral payment processor in Canada. We look forward to their continued contributions in their expanded roles within our organization," Mr. Gaines said.