
Exhibit 99.1

[COMPANY LOGO]                                             FOR IMMEDIATE RELEASE

                   ACIES CORPORATION ANNOUNCES RESIGNATION OF
                    MIRON GUILLIADOV, VICE PRESIDENT - SALES

NEW YORK - (BUSINESS WIRE) - May 31, 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 the resignation of Mr. Miron Guilliadov, who has
elected to leave the Company to pursue other professional interests.

Acies' Chairman, Chief Executive Officer and President Oleg Firer stated, "Miron
has played a pivotal role in helping to establish Acies as an emerging leader in
the financial services industry. We would like to wish him well in all his
future endeavors."

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.

"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


