Infinity Data Corporation AWARDS LIPMAN CONTRACT FOR 6,050 POINT-OF-SALE TERMINALS
Ease of Use and Reliability Make NURIT® the Preferred Transaction Solution

SYOSSET, NY – January 23, 2003 - Infinity Data Corporation announced today that it has signed an agreement with Lipman valued at approximately 1.8 million dollars. Under the terms of the agreement Infinity will purchase and deploy thousands of NURIT® Point-of-Sale terminals over the next 14 months. Infinity is an independent sales organization (ISO) providing “Class A” support for NURIT® POS Solutions.

Infinity’s primary focus is the NURIT® 2085 Card Payment Terminal and the NURIT® 3000 series Countertop Payment Solutions. They also sell and support NURIT® wireless POS solutions, a growing industry segment within the Infinity client portfolio.

“NURIT® terminals represent about 95% of our business, due to their user-friendly interface and intuitive menu structure,” stated Brian Mills, President of Infinity Data Corp. “The combination of these two features makes it simple to train our help desk [employees] and provide first-rate ‘Class A’ support for our merchants. This is why we remain loyal Lipman customers.”

“We are pleased that Infinity has once again chosen the NURIT® line of products as their core payment solution,” said Michael Grossman, Senior Vice President of ISO sales at Lipman.

“Infinity has always appreciated Lipman’s focus on making the NURIT® product line the most reliable and easiest to use in the industry."

Powered by NURIT APPS® Value Added Applications, Lipman features both Landline and Wireless Point-of-Sale solutions under the NURIT® brand name. This complete product line includes wired and wireless POS terminals, ECR, ATM, and Kiosk Solutions, for the retail, restaurant, mobile commerce, direct marketing, and fleet markets.

About Infinity Data Corporation
Infinity Data Corporation is a full service provider of credit, debit and electronic benefit transfer transaction processing and related equipment. Infinity Data Corp provides complete service to our merchants including a customer service help desk dedicated to our accounts and complete terminal support and service facility.
Infinity’s merchant services program began in New England in 1996 and now covers a geographic territory that includes the north eastern United States, as far west as Indiana and as far south as North Carolina.

About Lipman USA, Inc.
Lipman (www.misteriodeobanos.org) is a wholly owned subsidiary of Lipman Electronic Engineering, Ltd. Operating worldwide, Lipman ranks among today’s premiere providers of robust, flexible, and highly customizable electronic payment solutions. The leading supplier of wireless point-of-sale terminals in the United States, Lipman manufactures fixed and handheld transaction solutions that seamlessly integrate hardware, application, and back-office software to help processors, providers, and the merchants they serve do business better. Lipman Electronic Engineering, Ltd. is listed on the Tel Aviv Stock Exchange under the symbol LPMA.TA

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From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, new markets, new product introductions, technology adoption, and future business activities should be considered in light of these factors.