sQuid Signs Ground-Breaking Agreement With Greater Manchester Transport Bosses

MANCHESTER, England--(Business Wire)--
sQuidcard, the eMoney payments system operator, and Greater
Manchester Passenger Transport Executive (GMPTE), responsible for
transport initiatives across one of the largest cities in the UK, have
signed a contract to deliver a pre-paid transit smartcard service.

The service, to be piloted in the district of Bolton, will enable
holders of the local council's leisure smartcard to make journeys on
bus services operated by Arriva Manchester, using a stored value purse
delivered through sQuidcard. Additionally, the eMoney purse will allow
customers to also use the smartcard for purchasing low-cost items such
as newspapers, food and other convenience goods.

As the only ITSO-compatible, low-cost eMoney network, the decision
by the GMPTE to use sQuid as its travel settlement system is a
significant achievement for the company and complements its recent
tie-up with Bolton Council's Smartcard.

Adam Smith, Managing Director of sQuid, said that the partnership
with GMPTE is an important step in realising one of sQuid's
objectives; to offer user-friendly eMoney solutions across Communities
and in partnership with Transit Systems. "Our philosophy is to make
electronic payments a flexible, responsive and cost-effective service
for our customers, for merchants and for transport operators. This is
something none of the banks or credit card networks is able to offer
on the same scale as sQuid because our technology is unique and it
sits outside the existing banking payment systems," he added.

Smith also says that the partnership with GMPTE heralds an
important step in the delivery of smartcard services across many such
councils and transport authorities, particularly in the North and
North West. Other similar announcements are expected in due course.

About sQuid

sQuidcard, a subsidiary of Nucleus Ltd, a leading brand, internet
and venturing business, is set to become the leading 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 sub-GBP 10 cash transactions made annually in the UK.

sQuidcard has a multi-purse capability and is the only
ITSO-compatible card that combines an eMoney purse. This enables the
sQuidcard to be used as a pre-pay transit card and for low value
purchases such as a newspaper, cup of coffee, sandwich etc.

Armadillo Consulting Group for sQuid
Lloyd Mullenger, 01763 248 820

Copyright Business Wire 2008