Diversified Investors Corp. has entered into an exclusive joint venture agreement with Smartcard Technology to develop smart card applications in Singapore and Malaysia.

The joint venture, which will be 30% owned by New York-based Diversified and 70% owned by Malaysian investors, will have the exclusive right in those two countries to develop smart cards, charge cards, debit cards, and other electronic funds transfer applications of Diversified's proprietary electronic processing technology.

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