For Immediate Release

New York, NY: February 1, 2002 - TokenWorks Inc. announces the availability of the CardTool™ Magnetic Card Reader Module for the Handspring™ Visor™ line of handheld computers. The CardTool reader transforms the Visor handheld computer into a low cost, portable magnetic card reader transaction platform.

The CardTool reader, combined with the Handspring Visor, makes an ideal combination for applications such as mobile point of sale, age/ID verification, health care, law enforcement, and trade show lead retrieval. With a 3-Track Magnetic Card reader, built-in flash memory, and plug-and-play functionality, developers can leverage the CardTool reader’s ability to store reader application programs and the resulting card transaction databases without the need for software downloads, batteries, or cables.

“The CardTool reader represents a significant advance in the PDA card reading market. The built-in flash memory eliminates time-consuming application installation and provides vital back-up storage of card transactions,” said Charles Cagliostro, TokenWorks President and CEO. “The market now has an inexpensive alternative reader in this efficient, low cost, flexible, touch screen Palm OS device that extends the service capabilities of card issuers who deploy billions of magnetic cards every year.”

Product Information
The CardTool reader ships with a 3-Track magnetic card reader, 2MB of flash memory and a sample card reader application. The flash memory means the CardTool reader won’t lose its programming, or database files even in the event of total power loss to the Handspring Visor. CardTool is now available on the TokenWorks web site, www.tokenworks.com for the end user price of $189.00 plus S/H. Quantity discounts are available for qualified resellers.

The included card reader application provides reader configuration functions, card data display capabilities and storage of decoded card data in a Palm OS database. Developers can use standard Palm OS development tools to write custom card-processing applications quickly and inexpensively with an optional developers kit.

Developers Kit
For application developers, TokenWorks has created a Developer’s Kit, consisting of a CardTool reader, software libraries, sample magnetic cards, the sample reader source code, and email technical support. Both the GNU and CodeWarrior™ “C” development environments are supported today with others announcing shortly. The development kit retails for $1500 on the TokenWorks web site.

About TokenWorks Inc.
TokenWorks’ founders leveraged a decade of smart card development and integration experience to design and develop this valuable new product. The founders also actively participate in a number of industry events and associations. For more information, please contact Charles Cagliostro at 914-779-5585, by email at [email protected], or visit us at http://www.tokenworks.com.