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BP Cashes in with Cardtronics

HOUSTON -- Cardtronics Inc., the world's largest ATM owner/operator, has acquired the ATM business of Neo Concepts Inc., a Chicago-based independent sales organization. The portfolio includes more than 360 ATMs located primarily in high-traffic BP Amoco stores and an additional 50 ATMs in various independent merchant locations.

In making the announcement, Cardtronics president and CEO Jack Antonini said, "We are pleased to include BP Amoco in our growing list of nationally known merchant-clients. It's a great honor to work with this industry leader and the 50 independent merchants that are a true staple in the petroleum industry. We look forward to providing the same world-class service to these name-brand stores and their customers as we do with the other 25,000 locations throughout the U.S."

Neo Concepts, founded by brothers Jim and John Troy in 2000, has grown steadily to include roughly 80 ATMs in BP Amoco stores in the Chicago area with the additional locations in Colorado, Florida, Georgia, Wisconsin, Indiana, Michigan, New Jersey, New York and Tennessee.

The Troys built their company through an unwavering commitment to customer satisfaction. According to Neo Concepts' vice president/co-founder John Troy, "We wanted to be sure that BP and our independent merchants would be served well after the sale and Cardtronics' focus on providing complete ATM solutions made them the best choice."

"The Neo Concepts ATM portfolio adds another significant presence for us in the convenience store venue in the Chicago area as well as the rest of the country," said Brian Archer, executive vice president, sales for Cardtronics. "This long-term relationship with BP Amoco and our option to install ATMs in new store locations provides a profitable growth model for Cardtronics and BP Amoco as well as a foundation for providing great service for their customers."

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