TSX Venture Exchange: VSI

VANCOUVER, Feb. 7 /CNW/ - VendTek Systems Inc. (TSX-V: VSI, the "Company" or "VendTek"), a developer and licensor of software for the global prepaid and financial services markets, is pleased to announce that its wholly owned subsidiary in Brazil, Now Prepay Servicos de Informatica Ltda., has signed a national distribution agreement with Telecomunicacoes de Sao Paulo S.A. ("Telefonica") to distribute prepaid recharge services to its landline subscribers and prepaid long distance which can be used for landline, wireless and public phone customers. 

Telefonica is one of the largest telecommunications groups in Brazil. The group includes Telefonica (landline and broadband), Vivo (wireless), Terra (Internet), and Atento (contact center). Telefonica has more than 11 million landline subscribers in the state of São Paulo (Brazil's largest state with a population of over 40 million). It offers multiple local and long distance prepaid plans to residential customers. 

Brazil is considered a key international market for the Telefonica group (local services have generated more than R$23.2 billion (about C$13.8 billion) in revenues in 2009). As part of Telefonica's strategy to offer convergent services, the group acquired full ownership of Vivo in 2010 for Euro $7.5 billion (about C$10.2 billion). 

"We are excited to add Telefonica to our growing list of distribution partners. Telefonica leads the long distance market in Sao Paulo state with over 34% market share creating quarterly revenues of approximately $3 billion Canadian", said Doug Buchanan, President and Chief Executive Officer of VendTek.

About Telefonica
Telefónica is one of the world's leading integrated operators in the telecommunication sector, providing communication, information and entertainment solutions, with presence in Europe, Africa and Latin America.

Telefónica has one of the most international profiles in the sector with more than 60% of its business outside its home market and a reference point in the Spanish and Portuguese speaking market.

In Spain, the Group has over 80 years experience since its constitution in 1924, providing services to more than 47.3 million customers at September 2010. In Latin America, Telefónica gives service to more than 179.1 million customers as of the end of September 2010 becoming the leader operator in Brazil, Argentina, Chile and Peru and has substantial operations in Colombia, Ecuador, El Salvador, Guatemala, Mexico, Nicaragua, Panama, Puerto Rico, Uruguay and Venezuela. In Europe, on top of the Spanish operations, the Company has operating companies in the United Kingdom, Ireland, Germany, Czech Republic and Slovakia, providing services to more than 55.2 million customers as of the end of September 2010.

The Group stands in fourth position in the sector Telco worldwide in terms of market capitalisation the 1st as an European integrated operator and in second position in the Eurostoxx 50 ranking, composed of the major companies in Europe (September 30th 2010). The Group is listed on the main Spanish and foreign stock markets and has over 1.5 million direct shareholders according to separate records in favour of individuals and corporations. As of September 2010, Telefónica's total number of customers amounted to 281.8 millions. For more information, visit  

About VendTek
VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company's websites and

Forward-Looking Information

This news release contains statements which are not current statements or historical facts and are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, contained in this news release constitute forward-looking information.  Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "forecasts", "projections", "anticipate" or "does not anticipate", "believe", "intent", "potential", "strategy", "schedule", "estimates" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved and other similar expressions have been used to identify forward-looking information.  These forward-looking statements relate to, among other things the Company's expectations regarding future growth, results of operations (including, without limitation, future production and sales, and operating and capital expenditures), performance (both operational and financial), business and political environment and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities.

Although the forward-looking information in this news release reflects the Company's current beliefs on the date of this news release based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results, performance, achievements, prospects and opportunities, either expressed or implied, will be consistent with such forward-looking information. By its very nature, forward-looking information necessarily involves significant known and unknown risks, assumptions, uncertainties and contingencies that may cause the Company's actual results, assumptions, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among other things, revenue growth, operating results, the market demand for our products, product development, and litigation as well other factors described in the Risks Related to Our Business Section in our 2010 annual Management Discussion and Analysis. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or intended.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this news release.  Accordingly, all such factors should be considered carefully when making decisions with respect to the Company, and prospective investors should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE VendTek Systems Inc.

For further information:

Samantha White at 604-805-4653 or 1-800-806-4958 or

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VendTek Systems Inc.

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