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GreenZap November '05 Revenues Increase Over 300%

Posted on: Monday, 12 December 2005, 09:00 CST

GreenZap, Inc., (Pink Sheets:GZPN), a provider of secure online payment services, announced today that its fourth quarter 2005 revenue earnings are exceeding previous expectations, with November yielding over a 300% increase from the month prior. The company reported early in the fourth quarter that it was seeing a 48% increase in revenues over its third quarter. The company expects the record growth to continue as new merchants are added daily to GreenZap's online store, where account holders can purchase thousands of brand name products and services using a portion of their rewards dollars.

"Consumers recognize the unique discounts found in our online store and are demonstrating that by making purchases and upgrading their accounts to realize even greater savings," said VP of Marketing Linda Murphy. "We are also seeing new account sign-ups at an all-time high."

Individuals and businesses use GreenZap as a platform to send and receive money online via email to complete transactions in an auction or retail environment. GreenZap rewards account holders with up to $50 in WebCash for opening an account. WebCash can be used to cover GreenZap transaction fees, or as a unique way to purchase goods and services at a discounted rate through GreenZap's online store. The exchange of WebCash is converted on a one-to-one ratio i.e. a $50 discount is equal to $50 in WebCash.

About GreenZap, Inc.

GreenZap, Inc., a San Diego, California-based company, enables any business or consumer with an email address to send and receive money securely and cost-effectively online. GreenZap is building its network on the existing infrastructure of bank accounts and credit cards to create a global payment system. GreenZap's system resembles PayPal(R) (eBay's payment processor), except that it charges a flat fee versus a percentage of each transaction, and rewards its members for using GreenZap's services. WebCash, GreenZap's rewards dollar, is an electronic currency that can be spent at partnering merchants and can be used to pay GreenZap transaction fees.

Since opening on June 1, 2005, GreenZap has grown to over 375,000 users, and based on traffic alone, GreenZap has found itself in the top 1% of websites in the world, beating out online payment competitors such as moneygram.com, firstdata.com, and Western Union's Moneyzap.com.

For more information, please visit www.greenzap.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect,""anticipate,""estimate,""project,""forecast,""outlook,""target,""objective,""plan,""goal,""pursue,""on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management, increased government regulation or the company's failure to integrate its acquired companies to achieve the synergies and efficiencies described in the "Management's Discussion and Analysis" section of the Company's Form 10-KSB and other reports and filings with the Securities and Exchange Commission, which may be revised or supplemented in subsequent reports on SEC Forms 10-QSB and 8-K.

Source: Business Wire

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