This has gotta be good news for iBill's adult clients... :grin:

PRESS RELEASE
Contact: Carole Collins
Investor Relations Director
(770) 248-9600

INTERCEPT COMPLETES SALE OF MERCHANT SERVICES DIVISION

Reschedules Conference Call

ATLANTA, GA (March 22, 2004) -- InterCept, Inc. (Nasdaq: ICPT), a
leading
provider of technology products and services for financial
institutions,
announced that it closed today the sale of its merchant services
division,
InterCept Payment Solutions (IPS). The sale was consummated via two
separate transactions – one for the sale of Internet Billing Company,
LLC
(iBill) and another for the sale of the remainder of the IPS business.
The
total sale price for both transactions was $53.5 million, which is
$16.1
million more than the sale price stated in a letter of intent for the
sale
of IPS announced in February.

Media Billing, L.L.C., a 99%-owned subsidiary of Penthouse
International, Inc., has purchased all of the outstanding member
interests
of iBill for $0.7 million in cash, a $0.8 million short-term note, and
assumption of a $22.0 million working capital deficit.

Pay By Touch, a privately held provider of biometric authentication
and
payment solutions, purchased the remainder of the IPS business,
including
InterCept’s wholly-owned subsidiary, InterCept Payment Solutions,
Inc., and
InterCept’s merchant portfolio management business based in
Tennessee. The
sale price for that transaction was $30.5 million, composed of: $12.0
million cash; a $15.5 million note due in 180 days that is guaranteed
by
three Pay By Touch stockholders (the note will be discounted by $3.0
million
to $9.5 million if Pay By Touch makes a $3.0 million prepayment in 60
days);
a one year $2.5 million note that is convertible into Pay By Touch
preferred
stock currently valued at $2.5 million at InterCept’s option; and
shares of
Pay By Touch preferred stock currently valued at $500,000.

Both transactions closed on March 22.