ROSH HAAYIN, Israel - October 15, 2006 - Verifone Holdings, Inc. (NYSE: PAY) and Lipman Electronic Engineering Ltd. (NASDAQ: LPMA; TASE: LPMA) today announced that Verifone Chairman and Chief Executive Officer Douglas G. Bergeron, will visit Israel from October 16 - 18, ahead of the planned November 1 closing of Verifone’s acquisition of Lipman.
During his visit, Mr. Bergeron will meet with Israeli Prime Minister Ehud Olmert to formally introduce Verifone and to discuss the acquisition and Verifone’s plans for its operations in Israel after the closing of the transaction. Additionally, Bergeron and other members of the Verifone management team will meet with various Israel-based shareholders to provide details on their plan for the post- acquisition Verifone.
“I am delighted to return to Israel prior to Lipman becoming a part of the Verifone family,” said Bergeron. “Throughout its history, Lipman has established itself as a leader in the global electronic payment market and as a leader of commerce and industry in Israel. We look forward to carrying on this rich tradition under the Verifone brand. The combined company will benefit greatly from Lipman’s world class manufacturing and R&D capabilities in Israel, and we plan to invest in this segment of our business to ensure its continued success going forward.”
About Verifone Holdings, Inc.
Verifone Holdings, Inc. ("Verifone") (NYSE: PAY), a global leader in secure electronic payment technologies, provides expertise, solutions and services for today with a migration strategy for tomorrow. Verifone delivers solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. Verifone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare.
About Lipman Electronic Engineering Ltd.
Lipman Electronic Engineering Ltd. ("Lipman") (NASDAQ: LPMA; TASE: LPMA) is a leading worldwide provider of electronic payment systems. Lipman develops, manufactures and markets a variety of handheld, wireless and landline POS terminals, electronic cash registers, retail ATM units, PIN pads and smart card readers, as well as integrated PIN and smart card ("Chip & PIN") solutions. In addition, Lipman develops technologically advanced software platforms that offer comprehensive and customized transaction processing solutions for its customers, as well as managed professional services such as on-site and call-center support with remote terminal management. Lipman's corporate headquarters and R&D facilities are located in Israel. Lipman also maintains offices in the US, United Kingdom, Turkey, China, Spain, Finland, Russia, Italy, Canada and Latin America. For more information visit www.lipman.biz.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of Verifone Holdings, Inc. and Lipman Electronic Engineering Ltd. For a list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission (the "SEC"). Verifone and Lipman are under no obligation to, and expressly disclaim any obligation to, update or alter their forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.