PayChest CEO Updates Shareholders on Stock Audit

PayChest, Inc. (PINKSHEETS: PYCT) today provided an update to shareholders regarding the pending stock audits and the company's investor relations.

"Over the past few months PayChest has been engaged in an audit of shares previously allocated by prior management and investigated the validity of its issuance. Through a collaborative effort from legal counsel, the DTC and our audit staff, we have completed the audit and are awaiting the final assessment report. This process had stalled the progress we had achieved prior to the audit, and to move ahead with our business plan, it required a definitive plan to establish a stock position for the benefit of our shareholders and the future of the company. The result of this audit will show a substantial reduction in the number of outstanding shares in PayChest's new portfolio. We apologize for the inconvenience and delay during this period of audit and negotiations," said Mr. Lawson Pillay, PayChest's CEO.

As of June 5th, 2007, the company will re-engage its investor relations department to respond to any queries initially by e-mail. The IR personnel will be handling live calls by the end of June 2007.

About PayChest

PayChest and its strategic partner companies have developed an integrated online payment processing platform utilizing cutting edge technologies to deliver payment solutions online. These payment processing solutions include turnkey payment facilitation for credit and debit cards, electronic checks, money transfer solutions, gift cards and turnkey rewards based systems.

New management within PayChest is focused on innovative and tangible products, improving the online financial experience for online consumers and e-commerce businesses worldwide. To fulfill this obligation, the new management has marked significant timelines over the next few months to streamline operations, with a focus on integrating backend transaction processing infrastructures scalable to new payment technologies and marketing opportunities.

Safe Harbor Statement

The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.

CONTACT: PayChest, Inc. Investor Relations Email: info@paychest.com