TSX Venture Exchange: VSI

VANCOUVER, Jan. 7 /CNW/ - VendTek Systems Inc. (VSI - TSX Venture) (the "Company"), a developer and licensor of software for the global prepaid and financial services markets, announces that Peter Read, one of the Company's founders and its Chief Operating Officer, will be retiring from the Company in 2011. Mr. Read will commence his transition in February while continuing to work for the Company throughout the year. The Company has begun the process of recruiting a replacement for Mr. Read.

"Since co-founding the company in 1988 I have had an amazing journey with VendTek. We started out as a local manufacturing company and have evolved into a leading international prepaid transaction software supplier. Our key business initiatives are on track and I believe this is the right time for me to step back from the business operations and begin the next chapter in my life," said Peter Read.

"As one of the founders of VendTek, Peter has dedicated himself to the formation and success of the Company. He has contributed greatly to the development and growth of the Company and the Now Prepay divisions. It would be hard to overstate the incredible impact that Peter has had on VendTek and the tremendous contributions he has made over his many years with us. We wish him well as he transitions to his new stage in life," said Doug Buchanan, President and Chief Executive Officer of VendTek Systems. 

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

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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