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SANTA FE SPRINGS - 04/15/05 - Transaction processor Euronet Worldwide Inc. has said it will expand its presence in Southern California through an agreement with CJK Inc., a Santa Fe Springs-based distributor of prepaid phone cards.

The deal calls for PaySpot Inc., a subsidiary of Leawood, Kansas.-headquartered Euronet, to provide point-of-sale terminals to CJK for their 8,000 convenience stores where scratch-off phone cards are sold.

Euronet bills itself as the world's largest provider of prepaid wireless minutes sold through electronic terminals.

According to a spokesman for PaySpot, the company wants to focus on growth opportunities by selling through distributors such as CJK that have historically sold prepaid phone cards.

PaySpot was launched in September 2003 and has made five acquisitions since.

In addition to its Kansas base of operations, Euronet has European offices in Budapest, Munich, and London, and customers in more than 65 countries in North America, Latin America, the Caribbean, and the Asia Pacific region.

Euronet routinely doesn't disclose PaySpot's financials or how many locations it has terminals at, but sources say the company as a whole had a net income of $18.4 million on $381.1 million in sales in 2004, while its PaySpot subsidiary has 90 employees in the US.

Neither Euronet nor CJK would disclose terms of the multi-year deal.

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