CFSI Collegiate Funding Services (MM)

Sale of Company's Flagship Brand Signals Shift in Focus to Providing Loyalty Marketing Programs and Services to Financial Services Industry ATLANTA, Sept. 14 /PRNewswire/ -- Vesdia Corporation, the global leader in loyalty marketing, technology, and services, announced today that it has signed a definitive agreement to sell its BabyMint College Savings Program to Collegiate Funding Services, LLC (NASDAQ:CFSI), one of the nation's largest providers of education loans. Originally launched in March 2000, the BabyMint program enables consumers to receive up to a 30% rebate on everyday purchases made through a network of hundreds of top-name brick-and-mortar, online, and catalog retailers. Merchant rebates are automatically tracked and can be deposited into virtually any 529 college savings plan or Coverdell Educational Savings Account of the consumer's choosing. "The sale of BabyMint represents a significant shift in our development as a company. We are strategically moving from owning consumer brands towards further establishing Vesdia as a world-class provider of private-label loyalty marketing programs and services to the financial services industry. Leveraging our intellectual property and expertise in developing extensive merchant- funded rewards networks, we can help organizations identify and grow their most loyal customers," said Peter Davis, Vesdia's Chief Executive Officer. "What's more, because Vesdia will continue to provide support to CFS through a simultaneously executed, multi-year servicing agreement, this transaction also represents the acquisition of a significant new relationship for our company. Clearly, we are excited to add CFS to our client roster of leading financial institutions," added Davis. "The acquisition of BabyMint by Collegiate Funding Services is important because it acknowledges that student loans will be a reality for millions of families -- even with significant college savings through 529 plans or other means," said Luis Fleites, Senior Analyst at Cerulli Associates. "Bringing together two important aspects of educational funding in a unique and innovative way will help ease some of the pain for students and families." About Vesdia Corporation Vesdia Corporation, a privately-held company headquartered in Atlanta, is widely recognized as the global leader in loyalty marketing, technology, and services. Through its network of top-name retailers and name brands, Vesdia's patent-protected technology enables consumers to earn rebates and similar rewards through their everyday spending. In addition to serving as the "rewards engine" behind its own award-winning coalition loyalty programs, the company's services and proprietary technology are also utilized by retailers, financial institutions such as Citibank, Collegiate Funding Services, and MBNA America, and other membership or affinity organizations in the U.S. and Canada to facilitate customer loyalty. Aspects of Vesdia's loyalty programs are covered by one or more of the following patents: U.S. Patent No. 6,631,358; U.S. Patent No. 6,345,261; U.S. Patent No. 4,941,090; U.S. Patent No. 5,117,355; U.S. Patent No. 5,202,826; and U.S. Patent No. 5,287,268. For more information please visit http://www.vesdia.com/. DATASOURCE: Vesdia Corporation CONTACT: Peter Davis of Vesdia Corporation, +1-404-442-3960 Web site: http://www.vesdia.com/

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