724 Solutions Renews Alliance, Expands Offerings
Focus continues on deployments in key markets with greatest momentum
Toronto, ON (April 22, 2002) - 724 Solutions Inc. (NASDAQ: SVNX; TSE: SVN) announced today that it has renewed its strategic alliance with Bank of America Corp. (NYSE: BAC).
The relationship includes plans to launch a new, mobile operator-independent wireless brokerage service in Hong Kong; generate wireless actionable alert services; upgrade to 724 Solutions Alerts Generator v3.3 to provide alerts based on real-time market data; as well as explore new initiatives and research new products.
"The opportunity to expand our work and create more value through this alliance is very important to 724 Solutions," said John Sims, chief executive officer, 724 Solutions. "We are proud to be part of a commitment to offer secure, convenient financial services which meet the needs of customers."
"Through this alliance, we are building on our current successes and looking forward to achieving more in the future," said Jim Kelly, who leads the application software engineering group at Bank of America. "As a leading global financial institution, it is essential to offer our customers the best services and technology."
About 724 Solutions Inc.
724 Solutions Inc. (NASDAQ: SVNX; TSE: SVN) is a leading provider of mobile Internet infrastructure software and applications. It makes m-business happen globally by powering the delivery of secure mobile transactions for financial institutions and mobile operators. With headquarters in Toronto, Canada, the company has development and sales offices around the world. For more information, visit www.724.com.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions and Sonera SmartTrust, the benefits that businesses will obtain from these services and products and future demand for these services and products. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that 724 Solutions will be unable to deploy the solutions and products stated herein, the risk that the demand for the solutions and products will not increase as presently anticipated and other risks described in 724 Solutions' SEC filings. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators. 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law.
For more information, contact:
Avichai Levy, VP Marketing Mobixell Networks
Tel: +972 544 666 785
Avichai.levy@mobixell.com
Kirsten Scott and Kim Smith, éclat Marketing
Tel: +44 (0)1276 486000
mobixell@eclat.co.uk
