E-C LOGIXs NEW E-CASH(tm) ELECTRONIC MONEY OFFERS SECURE SOLUTION FOR SELLING MUSIC ON THE INTERNET

Digital Currency Reduces Need for Credit and Debit Cards; Allows Purchases on Auction and E-Commerce Sites With Zero Transaction Fees

Lincoln, Nebraska -- E-C Logix has developed encrypted software to bring the world a step closer to an all-electronic cash society with the introduction of E-Cash Digital Depository Receipts (DDRs). E-Cash is electronic money that is available in various denominations and is accepted and used as legal tender worldwide. E-Cash replaces credit cards, debit cards and other monetary commodities over the Internet, working seamlessly with all payment systems and service providers in every phase of electronic cash transactions around the world.

In creating E-Cash, E-C Logix utilized its expertise in making encrypted software to design virtually unforgeable digital currency, making E-Cash the most secure way for people to pay each other on the Internet.

E-Cash offers an immediate solution to the music industry which is desperately seeking a way to securely sell music on the Internet," says Todd Stinson, president and founder of E-C Logix. He explains, The Internet is littered with failed online music services that charge a monthly membership fee to credit cards. The most glaring flaw in this business model is that the majority of music buyers are young people between the ages of 10 --19 years of age. Most of them dont have access to credit cards and are, therefore, automatically excluded from membership. With E-Cash, users dont need credit cards, bank accounts or any other form of affiliation with a financial institution to buy or spend it. Any person of any age can buy and spend E-Cash."

According to Stinson, E-Cash payments are recognized and authenticated almost instantly, without the need to confirm through an issuing bank or agency. In addition, like using cash, E-Cash transaction can be completely anonymous. This makes using E-Cash eminently usable for peer-to-peer services such as those used in music file downloads, and auction sites where proving the trustworthiness of buyers and sellers is difficult.

E-Cash is also ideal for e-commerce sites, where credit card identity theft and other sophisticated fraudulent schemes cost vendors hundreds of millions of dollars in revenues annually. Vendors who accept E-Cash can authenticate the payment and deposit it to their account almost instantly. Also, since vendors no longer have to collect credit card information from their customers, neither they nor their customers need worry about hackers breaking into the site and stealing sensitive financial information. E-Cash also surpasses cash in convenience and cost-effectiveness, because it allows payments of as little as one-tenth of a cent with zero transaction fees.

How E-Cash Works
When a person buys E-Cash, it is safely stored as a coded electronic file in reserved accounts, or Digital Wallets, on the owners computer or other secure location. Like having cash in your wallet, it represents the ownership of legal tender. When you spend E-Cash, you digitally sign" it away to the receiver. Special software automatically confirms that your signature is authentic, making the possibility of forgery practically nonexistence. As a result, a mutually trusted third party (bank, credit card company, etc.) is not necessary. Like cash, when given as payment, E-Cash instantly becomes the property of the receiver.

About E-C Logix
E-C Logix is a privately held company that specializes in developing innovative encrypted software for underwriting, minting and validating blind" signature electronic cash and digital depository receipts (DDRs). E-C Logix is leading the evolution in superceding cash, credit and debit cards as the preferred method in all electronic, computer-based financial transactions, including peer-to-peer, e-commerce and other platforms in which a monetary payment can be made electronically. For more information, contact info@e-clogix.com. You can also log on to Web at www.e-clogix.com.

Editorial Note: Digital images and additional technical information are available upon request.

Contact:
Mario Almonte, Publicis Dialog
212-279-6350; Mario.Almonte@publicis-mail.com
Sheila Geltzer, Publicis Dialog
212-279-6348; Sheila.Geltzer@publicis-usa.com