
Exhibit 99.1

                                                           FOR IMMEDIATE RELEASE

                  ACIES CORPORATION EXPANDS BOARD OF DIRECTORS

 ACCOMPLISHED BUSINESS AND LEGAL PROFESSIONALS TO SERVE AS INDEPENDENT MEMBERS;
           CFO JEFFREY TISCHLER ALSO JOINS BOARD AS EXECUTIVE DIRECTOR

NEW YORK - (BUSINESS WIRE) - APRIL 17, 2006 - Acies Corporation (OTCBB:ACIE),  a
financial  services company that specializes in providing payment processing and
online banking services to small,  medium,  and large-size  merchants across the
United States, today announced that Bonnie K. Wachtel and William B.G. Scigliano
have been  nominated  and have  agreed to serve as  independent  members  of the
Company's Board of Directors.  Jeffrey A. Tischler,  Chief Financial  Officer of
Acies, will also join the Board as an executive  director.  All three will stand
for  re-election  at the Company's  2006 annual  shareholders'  meeting to occur
later this year.

"We are extremely proud and honored to have recruited independent directors with
such  exceptional  leadership  capabilities,"  stated Acies'  Chairman,  CEO and
President Oleg Firer.  "These  individuals bring unique business  experience and
depth of  knowledge  to Acies  that is sure to  greatly  enhance  our  corporate
governance  practices  and aid our  management  team in achieving  our ambitious
growth objectives."

For the past 22 years, Ms. Wachtel has served as Vice President and General
Counsel of Wachtel & Co., Inc., a brokerage and investment banking firm based in
Washington, D.C. She also serves as a director on the boards of VSE
Corp.(Nasdaq:VSEC), a leading provider of diversified services to the
engineering, energy and environment, defense, and homeland security markets from
more than 20 locations across the United States and around the world, and
Information Analysis Incorporated, (OTCBB:IAIC), an information technology
services company. Ms. Wachtel holds a Bachelor of Arts degree and an MBA from
the University of Chicago and a Juris Doctorate degree from the University of
Virginia.

Mr. Scigliano brings Acies broad expertise in the fields of investment  banking,
mergers and  acquisitions  and government  relations.  He currently  serves as a
Co-chairman  of the Board of  Wherify  Wireless,  Inc.  (OTCBB:WFYW),  a leading
developer of patented wireless location solutions and services for family safety
and   communications,   and  also  serves  as  a  Director  for   AlphaTrade.com
(OTCBB:APTD).  Previously, he was Chairman and CEO of IQ Biometrix, where he led
the Company to become a major  provider  of  identification  technology  for law
enforcement  and  homeland  security  and  directed  its merger with  Wherify in
mid-2005.  Prior to that, he was an executive advisor to the Attorney General of
British  Columbia and also served as an advisor to the National  Association  of
Attorneys  General in Washington,  D.C. Mr.  Scigliano earned a Bachelors degree
from the University of Victoria and a Masters degree from the Graduate School of
Business Administration at the University of Oregon.

ABOUT ACIES CORPORATION (PRONOUNCED "AY-SEE-US")
Headquartered  in New York  City,  Acies  Corporation  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.  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  online  bank  account  and pay  bills  electronically.  For  more
information, visit http://www.aciesinc.com.


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"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, growth strategy,
liquidity and access to public markets,  operating expense reduction, and trends
in the industry in which the Company operates.  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,  including the risk factors in its
form 10-KSB for the year ended March 31, 2005. 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.

                      FOR MORE INFORMATION, PLEASE CONTACT:
                          DODI HANDY, PRESIDENT AND CEO
                      ELITE FINANCIAL COMMUNICATIONS GROUP
                   407-585-1080 OR VIA EMAIL AT ACIE@EFCG.NET

