Dundee Launches Smart Money with sQuid

DUNDEE, Scotland--(Business Wire)--
sQuidcard Limited, the electronic money (eMoney) operator today
announces it is to launch its sQuid eMoney service in Dundee, in
partnership with the Scottish National Entitlement Card (NEC) and
Dundee City Council.

Dundee is the second UK launch zone for sQuid, after Bolton. Adam
Smith, Managing Director of sQuid stated: "Our unique eMoney service
delivers real value for retailers, with very low costs, much lower
than credit and debit cards for sub-GBP 10 transactions. For the
consumer, sQuid is available to anyone, and does not require a bank
account. It complements the philosophy of the Entitlement Card being
open to all, and we are delighted to be launching sQuid in Scotland
with NEC and Dundee City Council".

Dundee City Council is a participant in the NEC programme and
38,000 cards are already in issue in Dundee, with many more now
expected. A further 140,000 cards have been issued in the wider
Tayside and Fife area and it is intended that these cards will also be
able to benefit from this initiative when used in the city. sQuid will
be available through the NEC as well as independently through
retailers.

The Council will be an active participant in the scheme, which
will see sQuid eMoney being used for all sorts of small value
purchases, including newspapers, food and taxis. It underlines the
Council's commitment to delivering valued services for Dundee citizens
and businesses. Councillor Kevin Keenan, the leader of Dundee Council
said: "Dundee is embracing new technologies and we see smartcards and
electronic money as a positive service for all. We are delighted to be
working with sQuid to help make this a reality".

About sQuidcard Limited

sQuidcard is a subsidiary of Nucleus Limited, a leading brand,
internet and venturing business.

sQuid eMoney is the alternative to the debit and credit card
networks for sub GBP 10 tap and go transactions - a market forecast to
grow rapidly, replacing some of the GBP 200bn cash transactions made
each year in the UK.

sQuid has a multi-purse capability and is compatible with ITSO
(transit) standards. This enables a sQuidcard to be used not only for
low value purchases such as a newspaper, cup of coffee and a sandwich
etc. but also as a pre-pay transit card.

Armadillo Consulting Group for sQuid
Lloyd Mullenger, +44-(0)20-3195-6727

Copyright Business Wire 2008