Currency Exchange International, Corp.(TSX:CXI) (OTCBB:CURN), is pleased to announce it has signed a Master Services Agreement and a corresponding Statement of Work with a national financial institution in North America. The foreign currency services are expected to commence at select locations in August 2016 and are expected to be in place at all transacting locations by the end of 2016.

The financial institution will utilize CXI’s inventory on consignment model at select locations and a decentralized foreign banknote model across its customer network. All branches will directly interact with CXI through the company’s proprietary software – CEIFX. The select locations holding foreign currency inventory generally have Euros, U.K. Pounds, Japanese Yen, Mexican Pesos and some Caribbean currencies in stock daily. Holding the foreign currency at the branch makes it available for immediate purchase by account holders and non-account holders, affording customers the convenience of same-day currency exchange at the location. All other foreign currencies sold to customers, of the more than 80 offered, can be exchanged at these locations with a one to two business day turnaround time.

The first set of locations serviced by CXI in August 2016 will be through the consignment model, immediately expanding the currency service offering. The entire branch network, using the decentralized model, is expected to begin transacting with CXI in October 2016. Randolph Pinna, President and CEO of CXI said, “The entire CXI team is very proud to have CXI’s services and reputation recognized by the institution as it was determined our software, service and level of dedicated customer care will expand the value of their foreign banknote service down to their clients. We look forward to working with this excellent financial institution.”

About Currency Exchange International, Corp.

The Company is in the business of providing a range of foreign currency exchange and related products and services in North America, including the Hawaiian Islands. Primary products and services include the exchange of foreign currencies, wire transfer payments, purchase and sale of foreign bank drafts and international travelers’ cheques, and foreign cheque clearing. Related services include the licensing of proprietary FX software applications delivered on its web-based interface, www.ceifx.com (“CEIFX”), and licensing retail foreign currency operations to select companies in agreed locations.

The Company’s services are provided in Canada by its wholly-owned Canadian subsidiary, Currency Exchange International of Canada Corp., based in Toronto, Canada through the use of its proprietary software www.ceifx.ca.