PRESS RELEASE

Lagos, Nigeria
January 12, 2010

ATM-C Appoints Oladele Akinyemi as Chairman as Bajomo takes over as MD/CEO

ATM Consortium Limited (ATM-C), Nigeria’s premier Independent ATM Deployer (IAD) and operator of the QuickCash ATM Network has announced changes to it’s board. Erstwhile Vice-Chairman, Mr. Oladele Akinyemi has been appointed Chairman of the board as Mr. Olumide Bajomo joins the board as MD/CEO of the company. The changes which take effect from January 5, 2010 were announced following expiration of the term of Mr Adedotun Sulaiman as Chairman. Mr Akinyemi represents Diamond Bank, one of the company’s major shareholders where he serves as Executive Director Customer Service & Technology. Prior to this appointment, he has been a member of ATM-C's board of directors since inception in 2004, and was appointed Vice-Chairman in 2008.

Commenting on the appointment, Mr Sulaiman said: "We are delighted to welcome Mr Akinyemi to chair the board at this critical time in the history of the company. His distinguished professional track record and unwavering commitment to actualisation of the ATM-C vision combines well with a deep financial and technology services background. This appointment is timely, allowing him to participate fully and work closely with the new management in the ongoing restructuring, transformation and execution of a new strategic plan for ATM-C."

Mr Akinyemi adds: "Having been closely engaged in all issues facing the ATM industry, from banking as well as IAD perspectives, I am pleased to be taking on this central role at the leading ATM deployment organisation in West Africa. I look forward to working closely with the board and the new Chief Executive, Olumide Bajomo, and believe we will form a strong and effective team. Current times are indeed challenging with the recent licensing of two (2) additional IAD's by the Central Bank but ATM-C has many strengths and valuable assets on which we are building an enduring customer focussed business. I am optimistic that we can restructure the company to enable these strengths, once again, to become what we are known and valued for."

Mr. Akinyemi started his professional career in 1987 with International Computers Limited (ICL) as Systems Adviser. He commenced his banking career in 1989 as Head Systems Unit at the former Lead Merchant Bank moving on to Diamond Bank in 1991 to Head different units such as Systems Unit, Commercial & Consumer Banking Unit as well as Retail Banking unit. He later moved to United Bank for Africa (UBA) as Head Retail Banking under the Consumer Banking Division and thereafter to Head Card Business, Cash Management and e-Solutions Group at Citibank Nigeria. He returned to Diamond Bank in 2002 overseeing Operations and Technology Divisions prior to being appointed to the board of the bank in 2006. Mr Akinyemi earned a B.Sc. degree in Computer Science from the University of Lagos and an Executive MBA from International Graduate School of Management, IESE, University of Navarra, Madrid, Spain. He is an Alumnus of both Lagos Business School and Havard Business School, a member of the Chartered Institute of Marketing, UK (MCIM) and an Honorary Senior Member of the Chartered Institute of Bankers, Nigeria (HCIB). Mr Akinyemi is also a member of the National Payment Systems Strategy Committee (NPSSC) of the Central Bank of Nigeria (CBN).

It is expected that Mr Bajomo's appointment as MD/CEO would leverage his wealth of experience and knowledge in the electronic payments industry and the pioneering role he earlier played at the inception of ATM-C. Mr Bajomo has garnered over 19 years experience spanning technology and financial service industry working with leading institutions including two of the largest banks in Africa, where he provided leadership and executed strategies for the development of e-business, e-banking and e-payment. As Deputy General Manager with Ecobank Group, he was responsible for Transaction Banking Service Delivery across 28 African countries also serving as Head, Transaction Banking in Ecobank Nigeria. Prior to this, he was an Assistant General Manager and Divisional Head, Electronic Banking with UBA Group. He has also served as director on the board of payment services and e-business organizations such as ValuCard Nigeria, InterSwitch, National eGovernment Strategies Limited (NeGSt) and ATM-C earlier as a non-executive Director representing UBA Group.

ATM-C’s board appreciates Mr. Sulaiman’s contributions to ATM-C, wishing him well in his future endeavours.

ATM-C is owned by leading Nigerian Banks comprising Afribank, Diamond Bank, Fidelity Bank, First Bank, UBA, Union Bank, Wema Bank, Zenith Bank and Accenture and was setup in 2004 with the sole mandate to deploy a network of 2,000+ shared ATMs in non-bank locations across the country. Following the recent CBN directive for banks to withdraw their ATMs from off-site locations, ATM-C has been granted a most welcome opportunity to resume the building of its shared services business and QuickCash ATM Network.

PRESS RELEASE

Offsite ATM: UBA Group, First Bank & Diamond Handover 1,116 Machines to ATM-C

Lagos, Nigeria
February 21, 2010

ATM Consortium (ATM-C), Nigeria’s premier Independent ATM Deployer (IAD) and operator of the QuickCash ATM network has announced that three banks have handed over 1,000 ATMs to its network. The cash machines belong to UBA Group, First Bank and Diamond Bank.

The banks’ decision to handover the ATMs to ATM-C complies with the Central Bank of Nigeria (CBN) policy directive on deployment of off-banking site ATMs, which requires that all banks should either handover their cash machines, deployed outside the bank locations, to consortia or relocate them to their premises on or before March 31, 2001.

With this development, QuickCash ATM network installed capacity has increased from 350 ATMs to 1,466. Specifically, UBA Group handed over 700 ATMs, First Bank relinquished 410 with the balance contributed by Diamond Bank.

Last month, the company initiated its turnaround plans by announcing changes made to its board of directors and management with Mr. Oladele Akinyemi, Diamond Bank, Executive Director, Customer Service & Technology appointed Chairman of ATM-C’s board of director whilst Dr. Abdu Abubakar, First Bank, Executive Director, Banking Operations and Service took over as Vice Chairman of the ATM-C board of directors. The board changes coincided with the appointment of Mr. Olumide Bajomo as Managing Director and Chief Executive Officer of ATM-C.

While commenting on the handover of the ATMs, Mr. Bajomo, said UBA, FirstBank and Diamond have all blazed the trail in demonstrating compliance with the apex bank regulation. He expressed delight at the handover by the banks who happen to be ATM-C’s major shareholders and views the gesture as a demonstration of their commitment and endorsement of ATM-C’s repositioning plan. “Over the next few weeks, we expect our other shareholder banks namely Zenith Bank, Fidelity Bank, Afribank, Union Bank and Wema Bank to follow suit,” he said, adding that ATM-C would soon commence the process of rebranding, deploying the QuickCash brand across all the bank branded cash machines and ATMs that were handed over.

ABOUT ATM-C
ATM-C is owned by eight of the leading Nigerian banks, namely Afribank, Diamond Bank, Fidelity Bank, First Bank, UBA, Union Bank, Wema Bank and Zenith Bank as well as Accenture. The company was set up in 2004 with the sole mandate to deploy a network of 2000+ shared ATMs in non-bank locations across the country. In addition, following recent CBN directive for banks to withdraw their cash machines from off-site locations, ATM-C has been granted a most welcome opportunity to resume the building of its shared services business and QuickCash ATM network.

PRESS RELEASE

Offsite ATMs: Ecobank, Wema beats CBN Deadline
ATM-C live on Postilion Processor

Lagos, Nigeria
March 24, 2010

ATM Consortium (ATM-C), Nigeria’s premier Independent ATM Deployer (IAD) and operator of the QuickCash ATM network announced today that it has commenced in-house ATM transaction processing and monitoring on the newly acquired Postilion Front-End-Processor (FEP). By this development, ATM-C has achieved compliance with regulatory directives of the Central Bank of Nigeria (CBN) which jettisoned the outsourcing option adopted at the inception of ATM-C in 2004.

With the new in-house Postilion FEP, ATM-C has acquired capacity to rapidly introduce new services through the ATM channel bringing operational improvements, financial savings as well as delivering customers a faster, more efficient level of service. Beyond meeting ATM-C’s current requirements, Postilion also provides ATM-C with a better management decision-making platform along with a robust and flexible technology foundation on which to build future services. The report stated that the first 4 ATMs have been successfully migrated to the new Postilion platform with cutover of the other ATMs planned to take place over the coming weeks.

Postilion, a division of S1 Corporation is a leading provider of integrated solutions for self-service banking and payment processing. Serving over 1,500 customers in more than 50 countries, Postilion solutions drive self-service financial transactions and payments, including advanced transactions such as prepayment, ATMs, POS terminals, and phones. More than 100,000 ATMs and 500,000 POS terminals worldwide run on Postilion solutions including some of the largest IADs in the world such as Cardtronics who leverage Postilion to drive over 20,000 ATMs.

Commenting on the development, Olumide Bajomo, MD/CEO of ATM-C stated that "ATM-C is dedicated to providing value and innovation to our customers and stakeholders. We have an aggressive rollout strategy for expanding the range of services that we offer. With our own Postilion now in place, ATM-C will deliver ATM services to our customers with greater efficiency and accelerate the introduction of new services to grow our business and meet the expectations of our numerous stakeholders.”

Meanwhile, Ecobank Nigeria, a member of Ecobank Group, a leading pan-African banking group with presence in 30 African countries, has selected ATM-C as its strategic partner for offsite ATM deployment in Nigeria. By this decision, Ecobank along with Wema Bank have brought to 5 the total number of banks who have handed over their offsite ATMs to ATM-C. Following the handover of its 19 offsite ATMs to ATM-C, Ecobank along with Wema have joined the list of banks who have achieved regulatory compliance ahead of the deadline set by the Central Bank on deployment of off-banking site ATMs, which requires that all banks should either handover their cash machines, deployed outside the bank locations, to consortia or relocate them to their premises on or before March 31, 2010.

Mr. Olumide Bajomo expressed great delight in partnering with Ecobank saying “We are delighted to partner with a leading regional bank such as Ecobank and look forward to extending our services to their regional customer base in the near future.”

With this development, the QuickCash ATM network installed capacity has increased to over 1,500 ATMs made up of about 700 ATMs from UBA Group, 410 ATMs from First Bank with the balance contributed by Diamond Bank, Wema Bank and lately by Ecobank. ATM-C has also announced that rebranding of the handed over ATMs has commenced, with the deployment of its QuickCash brand across Nigeria.

ABOUT ATM-C

ATM-C is owned by eight of the leading Nigerian banks, namely Afribank, Diamond Bank, Fidelity Bank, First Bank, UBA, Union Bank, Wema Bank and Zenith Bank as well as Accenture. The company was set up in 2004 with the sole mandate to deploy a network of 2000+ shared ATMs in non-bank locations across the country. In addition, following recent CBN directive for banks to withdraw their cash machines from off-site locations, ATM-C has been granted a most welcome opportunity to resume the building of its shared services business and QuickCash ATM network.