BI-LO Reduces Check Cashing Fraud with Help from BioPay

Paycheck Secure Helps Prevent Fraud at BI-LO Supermarket Locations Throughout Southeast

Herndon, VA — March 29, 2004

Biometric payments leader BioPay, LLC announced today that BI-LO's recent implementation of Paycheck Secure has helped BI-LO supermarkets substantially reduce check cashing fraud at 176 of its supermarket locations through out Georgia, North Carolina, South Carolina and Tennessee. Paycheck Secure is the nation's leading electronic biometric identification check cashing system.

BI-LO has been using Paycheck Secure since November 2003, and has seen its losses from fraudulent checks reduced by more than 60%. The company has used Paycheck Secure to successfully complete nearly 100,000 check cashing transactions worth more than $21 million dollars. Nearly 40,000 BI-LO customers are now enrolled in Paycheck Secure.

"Our expectations have been met…and exceeded," said James Wiles, BI-LO Loss Prevention Director. "In a short period, BioPay and Paycheck Secure have delivered on reducing fraudulent check losses, and you can't ask for better than that."

"BI-LO has taken a major step by being one of the first large supermarket chains to use biometrics to fight fraud. As a result, they are winning the battle against fraud and driving check fraud out of their stores," said Tim Robinson, President, BioPay.

About BI-LO

BI-LO, with headquarters in Mauldin, SC, operates nearly 300 supermarkets in the Carolinas, Georgia and Tennessee, and employs 22,000 associates. BI-LO believes offering safe, wholesome, high-quality foods in clean, modern and attractive stores is the foundation for consumer confidence and loyalty.

About BioPay, LLC

Since 1999, BioPay has been providing smart, secure methods for processing financial transactions. Its Paycheck Secure systems help businesses substantially reduce fraud and give consumers a convenient method for cashing checks. BioPay's payment service offers merchants a low-cost form of customer payment and gives consumers a secure, fast and convenient way to pay for purchases. BioPay's patent-pending systems for merchants, banks and financial service organizations have been implemented across the nation. BioPay's value to consumers and merchants has created the nation's largest commercial electronic biometric database. For more information on BioPay and its market-leading products please visit www.biopay.com.