Cash Technologies Subsidiary Agrees to Sell Tomco Assets for Up to $11 Million

LOS ANGELES, Aug. 31, 2006 -- Cash Technologies, Inc. (AMEX:TQ) announced today that its majority-owned subsidiary, TAP Holdings, LLC, has entered into an agreement to sell certain of its assets (the "Tomco Assets") to Champion Parts, Inc. (BULLETIN BOARD: CREB) for up to $11 million in cash and debt. The Asset Purchase Agreement provides for the sale of most of the Tomco Assets including all carburetor-related inventory, intellectual property and sales contracts. TAP will retain approximately $1.5 million in accounts receivable. The transaction is scheduled to close at the end of the mandatory 60-day employee-notice period required under the federal WARN Act.

In November 2004, TAP acquired the Tomco Assets for $2.5 million in cash and took over operations of Tomco Auto Products, one of the nation's two largest suppliers of remanufactured carburetors. Champion is Tomco's primary competitor.

  The key terms of the transaction are as follows:

  -  Purchase price of up to $11 million, of which approximately
     $1.5 million will be paid in cash and up to $9.5 million in the form of
     an 11-year promissory note secured by inventory.  Monthly payments due
     under the promissory note are based on a percentage of combined sales
     of carburetor products by Champion.  Based on present sales and note
     terms, payments are expected to total approximately $1.5 million per
     year during the first 3 years and approximately $1 million per year
     thereafter for a total of $9.5 million over the term of the note.
     However, payment amounts may vary as product pricing and demand varies
     and all payments will cease upon expiration of the note.

  -  After Cash Tech's investment in TAP has been fully repaid
     (approximately $1.1 million), TAP will pay approximately 37% of the
     proceeds from the Champion note to Tibrand Capital Ventures, LLC, Cash
     Tech's partner in TAP, with the remainder paid to Cash Tech.

  -  In addition to the purchase price, TAP will collect its accounts
     receivable totaling approximately $1.5 million.  After payment of TAP's
     bank debt and costs of the sale transaction, TAP may receive up to
     $300,000 in cash.

  -  Following the closing and the transfer of physical assets to Champion,
     TAP will shut its Los Angeles factory and terminate any remaining
     employees.

"The sale of Tomco will permit us to focus all of our attention on our rapidly expanding software and transaction processing businesses," stated Bruce Korman, CEO of Cash Technologies, Inc. "We purchased Tomco approximately 22 months ago in order to achieve certain investment objectives and those have been met. Tomco improved Cash Tech shareholders' equity by more than $5.5 million and will generate a cash flow contribution of more than $1 million per year after the sale."

About Cash Technologies

Cash Technologies, Inc. develops and markets innovative data processing solutions in the healthcare and financial services industries. Its ClaimRemedi Services, Inc. subsidiary creates and markets healthcare revenue acceleration solutions -- learn more at www.Claim-Remedi.com. Cash Tech's CashTechCard Systems, Inc. subsidiary manages debit card programs and issues prepaid debit cards that require no bank account but can be used at millions of merchant and ATM locations around the world. For more information, visit www.CashTechCard.com or www.cashtech.com.

Matters discussed in this release include forward-looking statements that involve risks and uncertainties, and actual results may be materially different. Factors that could cause actual results to differ include barriers that prevent the closing of the Tomco sale transaction or a change in its terms, technical barriers, implementation or success of Cash Tech's technologies and products, competition within the debit card, employee benefits and healthcare industries, changes in the pricing of, and demand for carburetor products, activity levels in the securities markets and other risk factors disclosed in Cash Tech's reports to the Securities and Exchange Commission, including its Forms 10-QSB and Forms 10-KSB on file with the SEC.

  Media Contact:
  Ed King
  213-745-2000 Ext. 114
  eking@cashtech.com