C$ cMoney and US Dataworks Announce Strategic Alliance

HOUSTON, April 1 /PRNewswire-FirstCall/ -- C$ cMoney, Inc., a Houston-based technology company, and US Dataworks, Inc. (Amex: UDW), located in Sugar Land, Texas, announced today that they have entered into a strategic alliance agreement for shared technology and support of the upcoming product launch of the C$ cMoney mobile payment application.  

C$ cMoney has developed a new and innovative way to send money and pay for goods and services using a cell phone. Furthermore, the C$ cMoney application will eliminate the risk of identity and credit card theft for users. When it is released later this spring, the C$ cMoney mobile application will enable consumers to download and use it with virtually any mobile device.

"The use of this revolutionary mobile payment system will allow consumers to make inexpensive money transfers as well as pay for goods and services anywhere that cash, checks or credit cards are accepted," explained Jennifer Pharris, CEO of C$ cMoney, Inc.

Charles E. Ramey, CEO of US Dataworks, added, "We are pleased to have been chosen to be a significant strategic partner for C$ cMoney's mobile application solution. US Dataworks' platform will complement the C$ cMoney solution. The combination of the two technologies should be very synergistic in this important, new payment method."

The strategic alliance agreement was negotiated on behalf of C$ cMoney by its investment banker Robert Gandy of Pythagoras Group. Terms of the strategic alliance agreement were not released other than C$ cMoney agreed to pay an upfront payment for a license and a warrant position.

The strategic alliance agreement will also create vertical synergies. According to Pharris, "We look forward to a long-term strategic partnership with US Dataworks, beginning with the launch of C$ cMoney's new mobile payment application, as we continue to expand into a multitude of new, evolving payment channel opportunities."

About C$ cMoney, Inc.

C$ cMoney, Inc. is a Houston-based company that has developed a new and innovative way to send money and pay for goods and services using a cell phone and the text messaging system. It can be used anywhere that cash, checks or credit cards are accepted. C$ cMoney protects and reduces risk of identity theft and credit cards that could be stolen from a purse or wallet. For more information, visit www.cmoney.com.

About US Dataworks, Inc.

US Dataworks is a developer of payment processing solutions, focused on the financial services market, federal, state and local governments, corporate billers, and retailers.  Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions that automate end-to-end processes for accepting and clearing checks. Additional information about US Dataworks is available at www.usdataworks.com.

Safe Harbor

Certain statements made in this press release (other than the historical information contained herein) constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements regarding our expectation of continued growth, the benefits of our recent restructuring, the anticipated features and benefits of our new distribution payment capture solution, our vision for payment processing and our new solutions' ability to provide a higher return on investment for our clients, and the statements herein concerning the C$ cMoney's mobile payments application and the anticipated benefits of the strategic alliance agreement to us.  Any forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the failure of our new solution to perform as anticipated, our ability to provide long-term customer value and agility, our ability to protect our intellectual property, our position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to avoid being delisted from the NYSE Alternext US (formerly the American Stock Exchange), our ability to repay or refinance our debt, the failure of C$ cMoney's mobile payments application to succeed as anticipated, the failure of the strategic alliance agreement to benefit us as anticipated and other risks detailed from time to time in the SEC reports of US Dataworks, including its annual report on Form 10-K for the year ended March 31, 2009 and its quarterly report on Form 10-Q for the quarter ended September 30, 2009.  These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.

SOURCE US Dataworks, Inc.