Unfortunately ths is not the complete release.Intellect PRESTO...

Unfortunately ths is not the complete release.



Intellect PRESTO Gains Foothold in South American Markets
Melbourne, February 5, 2004 – Intellect (ASX: IHG) today announced that
its PRESTO 210p Attended Transaction Device will be rolled out in five more
South American countries through deals worth a combined AUD 3.1 million.
With deliveries during the next few months, PRESTO devices will be supplied
to MasterCard acquirers in Argentina, Chile, Paraguay and Uruguay via a
local partner. Additionally, Intellect’s Colombian partner has purchased the
device to all local banks to update their infrastructure to the global EMV
standard.
The PRESTO device was originally designed to allow emerging EFT markets
to rapidly adopt the global EMV standard but has found wider success since
its launch. EMV is a global certification for payment infrastructure that
decreases fraud and introduces the use of chip (smart) cards with a
cardholder PIN instead of a signature. Across the European Union, it is
anticipated that from the start of 2005 most devices and software will meet
this standard – other countries are also adopting the standard in the coming
years.