BancTec Signs Document Solutions Distribution Agreement With CTCEgypt

LONDON, May 25 /PRNewswire/ -- BancTec, Inc., a global provider of advanced, high-volume, document and payment processing solutions and services, has signed a distribution agreement with City for Trading and Contracting Egypt (CTCEgypt), a leading vendor and servicer of technology, office and banking equipment throughout Egypt.  The agreement covers the distribution of BancTec's highly acclaimed IntelliScan® and E-Series high-speed document scanning and sorting transports.  

"CTCEgypt is a fast growing provider of banking and office automation solutions in Egypt," said Darren Riley, sales manager, EMEA Growth Markets, BancTec.  "Their commitment to customer service and deep market knowledge, along with BancTec's proven document processing solutions, will help meet demand from Egypt's business and government sectors."

"BancTec's content and document processing solutions have successfully served some of the largest and most complex organizations in the world," said Mahmoud Abd Allah, managing director, CTCEgypt.  "This partnership will enable us to deliver proven, leading-edge solutions for our clients' document automation efforts.  We look forward to pursuing new opportunities through this relationship."

About CTCEgypt

CTCEgypt is a fast growing Egyptian company, specializing in selling and servicing the latest high tech and office and banking equipment as a system integrator for complete solutions.  CTC was established in 2000 and currently has a staff of 70 employees.  For more information, please visit our website, www.ctcegypt.com, email [email protected], or call +2010 010 36 36.

About BancTec:

BancTec helps clients around the world simplify the process of managing their information.  Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries.  BancTec's offerings include business solutions, business process outsourcing, and infrastructure services.  With headquarters in Dallas, BancTec serves clients in 50 countries.  For more information on how BancTec can help you optimize information management, visit www.banctec.co.uk or call +44 (0)1753 778888.

Forward-Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings.  These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements.  For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007.   The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.

SOURCE BancTec, Inc.

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