QUALTEQ'S PARENT AMATECH AG FILES FOR INSOLVENCY

QualTeq Continues to Operate As a Separate Business and Remains Strong

SOUTH PLAINFIELD, NJ-July 18, 2002 - QualTeq Inc, a leading Visa/MasterCard card manufacturer located in South Plainfield, NJ, recently announced that its parent company AmaTech AG of Pfronton, Germany has filed for insolvency in Kempten, Germany. QualTeq remains strong and will not be affected by the insolvency.

According to the AmaTech Board of Directors, the company is not over indebted, however is unable to meet current payment of obligations.

QualTeq is a separate Delaware incorporated entity and is independently financed in the U.S. QualTeq continues to operate as a separate business and is currently seeking a partner to continue growth in the North American plastic card industry.

For more information about QualTeq, contact Albert J. Vrancart, president and CEO, QualTeq, at (908) 668-0999, Ext. 217, or visit the Web site at www.qualteq.com.

About QualTeq

Based in South Plainfield, NJ, QualTeq has been a leader in secure card manufacturing for almost 20 years, producing over two billion cards since its inception. QualTeq is a single source supplier of card products and services from card design and manufacturing to personalization and card issuance-receiving recent International Card Manufacturer Association (ICMA) Élan Awards for Card Design Excellence.

QualTeq is a registered trademark of QualTeq, Inc.