Lifestyle Wireless And Veritec Sign Agent Agreement To Launch Veritec's Blinx On-Off⿢ Visa Debit Card

GOLDEN VALLEY, Minn., Oct. 20, 2011 /PRNewswire/ -- Van Tran, CEO of Veritec, Inc. (OTC.OB: VRTC.), a pioneer of proprietary two-dimensional matrix technology and mobile banking debit card solutions, announced the signing of an agent agreement with Lifestyle Wireless of Seattle, Washington.  Lifestyle Wireless will begin marketing Veritec's blinx On-Off™ Debit Card to both the banked and un-banked population.  Veritec's mobile banking software platform processes debit, pre-paid and gift card solutions to debit card issuers and sponsoring organizations. Veritec's technology can be deployed on both a closed or open loop processing platform.  Using Veritec's Unique Mobile Banking Technologies, the card will allow cardholders to send funds to card members or charity organizations instantly anywhere in the world.  Card members also enjoy additional security features by receiving notification on card usages in real time, and can turn a card on or off via phone or Internet.

Lifestyle Wireless, Inc (LSW) is a state of the art mobile technology company and full-service mobile marketing agency. The company operates a best-in-class mobile commerce and communications platform specifically designed to facilitate secure financial transactions directly from the mobile device. LSW makes any campaign instantly interactive via the mobile phone, regardless of what media channel is used to communicate with the consumer or donor. This functionality allows our clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through mobile devices. The LSW platform was built to enable clients to use the mobile channel to raise money through mobile donations and facilitate the sale of goods and services to mobile users through text message, mobile web enabled checkout and smart phone applications.

About Veritec, Inc. and Veritec Financial Systems (VTFS)

Veritec, Inc. is a pioneer and developer of proprietary 2-D barcodes.  The company's products include its proprietary VeriCode® and VSCode® symbology, Bio ID-VSCode® multi-purpose card solutions, and PhoneCodes™ for delivering electronic tickets, coupons and gift cards to mobile devices.  Veritec Financial Systems, Inc. is a wholly owned subsidiary of Veritec, Inc.  VTFS develops and licenses mobile banking, debit, gift, and prepaid card solutions and serves as a third party processor to banks for debit card transactions on the company's mobile banking platform. For more information go to: www.veritecinc.com, www.vtfs.com, www.blinxcard.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.  These statements are based upon our current expectations and speak only as of the date hereof.  Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments, and general economic conditions.  Our SEC filings discuss some of the important risk factors that may affect our business, results of operations, and financial condition.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason unless otherwise required to do so by SEC regulations.

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