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Patent License for Select Payment Processing, Inc.

A patent license agreement has been entered by LML Patent Corp. and Select Payment Processing, Inc. (Irving, Texas) with LML Payment Systems Inc. LML Patent Corp. is a fully-owned subsidiary of LML. LML`s patents for electronic check conversion, including U.S. Patent Nos. 5,484,988, 6,164,528, and 6,283,366 are all part of the license package to Select Payment Processing, Inc.

`We are extremely pleased that yet another company has recognized the value of our patented technology,` said Patrick H. Gaines, chief executive officer and president of LML Patent Corp. and LML Payment Systems Inc. LML was represented in the license negotiations by Russell E. Levine of the Chicago law firm Kirkland & Ellis LLP.

The Corporation, through its subsidiary LML Payment Systems Corp., is a financial payment processor providing check processing solutions including electronic check authorization, electronic check conversion (ECC) and primary and secondary check collection including electronic check re-presentment (RCK) to national, regional and local retailers. The Corporation also provides selective routing of debit, credit and EBT transactions to third party processors and banks for authorization and settlement. The Corporation`s intellectual property estate, owned by subsidiary LML Patent Corp., also includes U.S. Patent No. 6,354,491, of which relates to electronic check processing methods and systems.