DIRECTCASH ACQUIRES THE ENTIRE ATM BUSINESS OF INKAS FINANCIAL CORP. [ 24.06.2008 ]

On photo left to right: Jeff Smith, Rita Simkin, David Khazanksi.

DirectCash Income Fund (the "Fund") announced today that the Fund's operating subsidiary partnership, DirectCash ATM Processing Partnership (the "DirectCash Partnership"), entered into the agreements and closed a transaction to acquire the entire automated teller machine ("ATM") business of Inkas Financial Corp. ("Inkas"), a private corporation based in Toronto, Ontario. The purchase was subject to customary purchase adjustments and holdbacks and was funded from DirectCash's acquisition credit facility. The signing and closing was completed over a 2 day period commencing June 24, 2008 and completed today with an effective date of June 24, 2008.

A total of 711 ATM sites and related contracts were acquired by DirectCash with the majority located in Ontario and Quebec. During the next few weeks DirectCash Partnership will be transitioning the acquired ATMs into its ATM management system. The acquisition of these ATM contracts will bring the total number of DirectCash ATM active sites/contracts to over 6000 (as
compared to the 5,370 ATM Sites as of March 31, 2008).    The acquisition is expected to be accretive to per unit distributable cash flow.

    Management's Commentary:

    "We are very excited about the acquisition of Inkas as it significantly increases our ATM market presence in Ontario and Quebec. Inkas has been in the business since 1998 and has proven to be a strong competitor in the ATM business with excellent customer service. We are excited to be able to add their ATM success and experience to our portfolio." said Jeffrey Smith, DirectCash's President and Chief Executive Officer.