                                                                ACIES
                                                      14 wall street, suite 1620
                                                          new york, ny 10005
                                                          tel. 800.361.5540


KCSA IR                 Todd Fromer / Michael Gallo
CONTACTS:               (212) 896-1215 / (212) 896-1258
                        tfromer@kcsa.com / mgallo@kcsa.com
                        ----------------   ---------------

COMPANY CONTACT:        Jeffrey A. Tischler, Chief Financial Officer
                        (212) 931-5182
                        jeff@aciesinc.com

                                                           FOR IMMEDIATE RELEASE

           Acies Reports Continued Merchant Account Growth in December
              Total accounts increased 19% in fiscal third quarter,
                           94% fiscal year-to-date and
                      130% in the trailing 12-month period

NEW YORK - January  23, 2006 - Acies  Corporation  (OTC BB:  ACIE),  a financial
services company  specializing in payment processing and online banking services
to small,  medium and large size  merchants  across  the  United  States,  today
announced growth  statistics for its merchant  account  portfolio as of December
31, 2005.

Total  merchant  accounts grew 19 percent  during the fiscal third quarter ended
December 31,  2005.  For the first nine months of fiscal  2006,  total  merchant
accounts  grew 94 percent,  and during the past  twelve  months  total  merchant
accounts  grew 130  percent.  Acies  noted  that the rapid  growth  in  merchant
accounts has been generated  organically and, based on the Company's  efficient,
scalable  business  model,  was  effected  with  no  significant   additions  to
infrastructure or overhead.

"While  transaction  volume is  typically  robust in our  fiscal  third  quarter
coinciding with the holiday spending season,  merchants  generally do not switch
payment  providers during their `busy' season.  Nevertheless,  we are pleased to
have grown our merchant  account  portfolio by 19 percent this quarter,  despite
this seasonally slow business development period," said Oleg Firer,  President &
CEO of Acies.  "Going  forward,  we believe we are well  positioned  to continue
growing our merchant  account  portfolio at a rapid pace and to benefit from the
industry roll-out of `contactless' card technology."

About Acies Corporation

Acies  Corporation  (OTC BB:  ACIE.OB) is a  financial  services  company  that,
through its wholly  owned  subsidiary,  Acies,  Inc.,  specializes  in providing
payment processing and online banking services to small,  medium, and large-size
merchants across the United States.  Acies' payment  processing  services enable
merchants to process Credit,  Debit,  Electronic  Benefit Transfer (EBT),  Check
Conversion,  and Gift & Loyalty transactions.

                                www.aciesinc.com


<PAGE>

ACIES CORPORATION / PAGE 2

Acies also offers traditional and next-generation point-of-sale (POS) terminals,
which enable  merchants to utilize Acies' payment  processing  services.  Acies'
banking  services offer customers  traditional  banking services and the ability
for customers to apply for an on-line bank account and pay bills electronically.

For more information, visit http://www.aciesinc.com.

Forward-looking Statements

"Safe Harbor"  Statement under the Private  Securities  Litigation Reform Act of
1995: This press release contains or may contain forward-looking statements such
as statements regarding the Company's growth and profitability,  rate of growth,
revenue  increase,  cost  containment and growth strategy.  The  forward-looking
statements  contained in this press  release are also subject to other risks and
uncertainties,  including  those more fully  described in the Company's  filings
with the Securities and Exchange  Commission.  The Company assumes no obligation
to update these forward-looking statements to reflect actual results, changes in
risks,  uncertainties or assumptions underlying or affecting such statements, or
for prospective events that may have a retroactive effect.

