APPENDIX C

Velocity Inc.

2004 Investor

Relations Plan

There are five main objectives of the 2004 investor relations plan:

1. Secure meetings with equity analysts to obtain potential research coverage and

sponsorship.

2. Build a full year of investor marketing and conferences and continue to improve

the company’s visibility.

3. Improve the Velocity Inc.’s investor presentation (ongoing).

4. Develop a Velocity Inc.’s fact sheet and investor package for investors.

5. Improve the Investor Relations web page.

1. RESEARCH COVERAGE AND SPONSORSHIP

Relationships with the sell-side currently exist, and there are two analysts in the

process of launching coverage of Velocity. We believe there are several other worthwhile

firms and analysts to meet with for an expanded sell-side following. Analysts

in the process of launching coverage are shaded light gray, analysts to target for potential

coverage are shaded darker gray (see Figure A1.1).

Potential Research Coverage

As analysts roll out coverage, managing expectations will be increasingly important.

Obviously, we want analyst estimates to remain within what management

feels is achievable. Velocity Inc. will pull interest from analysts in the gaming

sector as well as in the payments industry. Because of the cross characterization of

the stock, it is important that the sell-side fully understands the business. We suggest

conducting sales force teach-ins when new coverage is available so that the anp8

alyst and the sales force have a deeper understanding of the business and, ultimately,

the valuation.

Sales Force Teach-Ins

We can’t stress the importance enough of educating the institutional sales forces of

the firms providing research coverage of Velocity Inc. The basic process of getting an

institution to buy a stock often begins with research. Unfortunately, a research report

and/or meeting isn’t always enough to inspire a portfolio manager to buy a stock.

That’s where the sales force can help. When an institutional sales force gets to meet

management and hear the investment story directly, it tends to have a much greater

impact on that firm’s ability to close orders. (See Figure A1.1.)

TABLE A.1 Potential Research Coverage

Institution Name First Name LastName

A.G. Edwards & Sons Timothy Willi

Barrington Research Associates, Inc. Gary Prestopino

Bear Stearns & Company James Kissane

CIBC World Markets Bill Schmidt

Citigroup Global Markets Inc. Walter Wible

Credit Suisse First Boston Dris Upitis

First Analysis Lawrence Berlin

Friedman Billings Ramsey Group Inc. Christopher Penny

FTN Midwest Research Securities Corp Kartik Mehta

Goldman Sachs & Co. Gregory Gould

J.P. Morgan Securities (U.S.) Dirk Godsey

Jefferies & Company Craig Peckham

Legg Mason Wood Walker Daniel Perlin

Lehman Brothers (U.S.) Roger Freeman

Merrill Lynch Global Securities Gregory Smith

Merriman Curhan Ford, & Co. David Baine

Morgan Keegan & Company Robert Dodd

Morgan Stanley David Togut

Oppenheimer & Co. Michael Smith

Piper Jaffray & Co. Peter Swanson

RobertW. Baird & Company Carla Cooper

Roth Capital Richard Eckert

Standard & Poor’s Equity Group Scott Kessler

Sidoti & Company Michael Friedman

Sterne, Agee Danny Davila

SunTrust Robinson Humphrey Capital Markets Wayne Johnson

Thomas Weisel Partners John Mihalijevic

We believe teach-ins give the institutional salesperson much greater confidence

in soliciting meetings and orders from institutions and thus makes the entire marketing

process more efficient for management teams.

2. INVESTOR MARKETING AND CONFERENCES

Conferences

We think management should remain as active as possible, without disrupting

current management activities. We suggest management consider scheduling road

shows around conferences to leverage travel time while maximizing the efficiency of

the conference.

There are several conferences we suggest attending, including the Sterne, Agee

Gaming Conference (September), the Roth Capital Conferences (September/October—

NYC, and February 2005—LA), the ICR XChange (January), and the ABA

Small Cap Conference (May 2005—NYC).

Investor Meetings and Improved Targeting

We utilize ownership databases that cross-reference Velocity Inc.’s stock ownership

with industry peers. (See Table A1.2.) We believe that effective investor targeting results

in improved trading liquidity, as well as a growth in market capitalization.

We will be providing updated analysis of institutional ownership in the gaming

industry and payments industry, cross-referenced to Velocity Inc.’s stock ownership.

We will do this as ownership statistics are updated (mid-February, mid-May, mid-August,

mid-November) or on an as-needed basis.

We believe the comparative analysis in mid-May will indicate a widening potential

universe of additional buyers, and we plan on actively working with management,

road show sponsors (sell-side firms and their institutional sales forces) and analysts

to improve targeting.

Velocity Inc. 2004 Investor Relations Plan 263

Research report gets

issued or institutions read

exsisting research.

Management goes on road

show with analyst. Sales

people usually set up meeting.

Sales force calls institutions after

the meeting or the issuance of a

report to seek an order for the

purchase of shares.

FIGURE A1.1 Sales Meets Management

TABLE A1.2 Industry Peers

Institution Name CKN CSTR CEY EQTX Total

T. Rowe Price Assoicates, Inc. $280,136,799 $280,136,799

General Electric Asset Management $203,317,548 $203,317,548

Kayne Anderson Rudnick Investment

Management LLC $161,851,399 $161,851,399

Ariel Capital Management LLC $157,447,228 $157,457,228

Barclays Global Investors, N.A. $25,427,841 $58,539,087 $7,543 $83,974,471

AIM Management Group, Inc. $101,640 $77,115,369 $77,217,009

Denver Investment Advisors LLC $45,394,845 $45,394,845

Columbia Wanger Asset Management LP $44,267,850 $44,267,850

Reed, Conner & Birdwell LLC $19,385,071 $21,528,467 $40,913,538

Vanguard Group $5,542,538 $35,278,817 $40,821,355

SSGA Funds Management $6,549,464 $29,007,528 $35,556,992

Trusco Capital Management, Inc. $31,350,975 $31,350,975

Oak Value Capital Management, Inc. $29,387,909 $29,387,909

Oppenheimer Capital LP $26,170,803 $26,170,803

New York State Common Retirement Fund $22,635,917 $22,635,917

Credit Suisse Asset Management, Inc. (NY) $20,666,016 $20,666,016

Banc of America Capital Management LLC $1,808,194 $18,477,086 $20,285,280

California State Teachers Retirement System $1,146,082 $18,807,954 $19,954,036

Northern Trust Global Investments $4,263,344 $15,087,627 $261,995 $19,612,966

Timesquare Capital Management, Inc. $17,538,607 $17,538,607

Teacher Retirement System of Texas $2,495,625 $14,966,460 $17,462,085

TIAA-CREF Investment Management LLC $3,394,558 $13,889,080 $17,283,638

Dalton, Greiner, Hartman, Maher & Co. $17,213,479 $17,213,479

Boston Partners Asset Management LP $15,761,097 $15,761,097

Fidelity Management & Research Co. $1,815 $15,099,723 $15,101,538

3. IMPROVE VELOCITY INC.’S INVESTOR

PRESENTATION (ONGOING)

We are available to provide updates and changes to investor presentations as needed,

or on an ongoing basis.

4. FACT SHEET AND INVESTOR PACKAGE

We will develop a fact sheet after the first quarter of 2004 is reported.

We suggest that Velocity Inc. leverage existing marketing materials (folders and

other printed company information) and cross-utilize this for investor relations purposes.

This can eliminate unnecessary printing costs. We recommend a basic investor

kit that would include the following:

Last 10-K

Last 10-Q

Press releases from the prior six months

Proxy statement

Fact sheet

These materials can usually be mailed in a folder. It is our understanding the

Company is currently considering re-doing its marketing materials. We will attempt

to make sure some of these materials, like folders, can be cross-utilized.

5. IMPROVE THE IR WEB PAGE

In the past quarter, the Velocity Inc.’s website has become SEC compliant as well as

linked to CCBN investor website services. We are continuing to improve the Investor

Relations web page, and the next step is to enhance content, such as adding a company

fact sheet.

Velocity Inc.

2004 Investor

Relations Plan

There are five main objectives of the 2004 investor relations plan:

1. Secure meetings with equity analysts to obtain potential research coverage and

sponsorship.

2. Build a full year of investor marketing and conferences and continue to improve

the company’s visibility.

3. Improve the Velocity Inc.’s investor presentation (ongoing).

4. Develop a Velocity Inc.’s fact sheet and investor package for investors.

5. Improve the Investor Relations web page.

1. RESEARCH COVERAGE AND SPONSORSHIP

Relationships with the sell-side currently exist, and there are two analysts in the

process of launching coverage of Velocity. We believe there are several other worthwhile

firms and analysts to meet with for an expanded sell-side following. Analysts

in the process of launching coverage are shaded light gray, analysts to target for potential

coverage are shaded darker gray (see Figure A1.1).

Potential Research Coverage

As analysts roll out coverage, managing expectations will be increasingly important.

Obviously, we want analyst estimates to remain within what management

feels is achievable. Velocity Inc. will pull interest from analysts in the gaming

sector as well as in the payments industry. Because of the cross characterization of

the stock, it is important that the sell-side fully understands the business. We suggest

conducting sales force teach-ins when new coverage is available so that the anp8

alyst and the sales force have a deeper understanding of the business and, ultimately,

the valuation.

Sales Force Teach-Ins

We can’t stress the importance enough of educating the institutional sales forces of

the firms providing research coverage of Velocity Inc. The basic process of getting an

institution to buy a stock often begins with research. Unfortunately, a research report

and/or meeting isn’t always enough to inspire a portfolio manager to buy a stock.

That’s where the sales force can help. When an institutional sales force gets to meet

management and hear the investment story directly, it tends to have a much greater

impact on that firm’s ability to close orders. (See Figure A1.1.)

TABLE A.1 Potential Research Coverage

Institution Name First Name LastName

A.G. Edwards & Sons Timothy Willi

Barrington Research Associates, Inc. Gary Prestopino

Bear Stearns & Company James Kissane

CIBC World Markets Bill Schmidt

Citigroup Global Markets Inc. Walter Wible

Credit Suisse First Boston Dris Upitis

First Analysis Lawrence Berlin

Friedman Billings Ramsey Group Inc. Christopher Penny

FTN Midwest Research Securities Corp Kartik Mehta

Goldman Sachs & Co. Gregory Gould

J.P. Morgan Securities (U.S.) Dirk Godsey

Jefferies & Company Craig Peckham

Legg Mason Wood Walker Daniel Perlin

Lehman Brothers (U.S.) Roger Freeman

Merrill Lynch Global Securities Gregory Smith

Merriman Curhan Ford, & Co. David Baine

Morgan Keegan & Company Robert Dodd

Morgan Stanley David Togut

Oppenheimer & Co. Michael Smith

Piper Jaffray & Co. Peter Swanson

RobertW. Baird & Company Carla Cooper

Roth Capital Richard Eckert

Standard & Poor’s Equity Group Scott Kessler

Sidoti & Company Michael Friedman

Sterne, Agee Danny Davila

SunTrust Robinson Humphrey Capital Markets Wayne Johnson

Thomas Weisel Partners John Mihalijevic

We believe teach-ins give the institutional salesperson much greater confidence

in soliciting meetings and orders from institutions and thus makes the entire marketing

process more efficient for management teams.

2. INVESTOR MARKETING AND CONFERENCES

Conferences

We think management should remain as active as possible, without disrupting

current management activities. We suggest management consider scheduling road

shows around conferences to leverage travel time while maximizing the efficiency of

the conference.

There are several conferences we suggest attending, including the Sterne, Agee

Gaming Conference (September), the Roth Capital Conferences (September/October—

NYC, and February 2005—LA), the ICR XChange (January), and the ABA

Small Cap Conference (May 2005—NYC).

Investor Meetings and Improved Targeting

We utilize ownership databases that cross-reference Velocity Inc.’s stock ownership

with industry peers. (See Table A1.2.) We believe that effective investor targeting results

in improved trading liquidity, as well as a growth in market capitalization.

We will be providing updated analysis of institutional ownership in the gaming

industry and payments industry, cross-referenced to Velocity Inc.’s stock ownership.

We will do this as ownership statistics are updated (mid-February, mid-May, mid-August,

mid-November) or on an as-needed basis.

We believe the comparative analysis in mid-May will indicate a widening potential

universe of additional buyers, and we plan on actively working with management,

road show sponsors (sell-side firms and their institutional sales forces) and analysts

to improve targeting.

Velocity Inc. 2004 Investor Relations Plan 263

Research report gets

issued or institutions read

exsisting research.

Management goes on road

show with analyst. Sales

people usually set up meeting.

Sales force calls institutions after

the meeting or the issuance of a

report to seek an order for the

purchase of shares.

FIGURE A1.1 Sales Meets Management

TABLE A1.2 Industry Peers

Institution Name CKN CSTR CEY EQTX Total

T. Rowe Price Assoicates, Inc. $280,136,799 $280,136,799

General Electric Asset Management $203,317,548 $203,317,548

Kayne Anderson Rudnick Investment

Management LLC $161,851,399 $161,851,399

Ariel Capital Management LLC $157,447,228 $157,457,228

Barclays Global Investors, N.A. $25,427,841 $58,539,087 $7,543 $83,974,471

AIM Management Group, Inc. $101,640 $77,115,369 $77,217,009

Denver Investment Advisors LLC $45,394,845 $45,394,845

Columbia Wanger Asset Management LP $44,267,850 $44,267,850

Reed, Conner & Birdwell LLC $19,385,071 $21,528,467 $40,913,538

Vanguard Group $5,542,538 $35,278,817 $40,821,355

SSGA Funds Management $6,549,464 $29,007,528 $35,556,992

Trusco Capital Management, Inc. $31,350,975 $31,350,975

Oak Value Capital Management, Inc. $29,387,909 $29,387,909

Oppenheimer Capital LP $26,170,803 $26,170,803

New York State Common Retirement Fund $22,635,917 $22,635,917

Credit Suisse Asset Management, Inc. (NY) $20,666,016 $20,666,016

Banc of America Capital Management LLC $1,808,194 $18,477,086 $20,285,280

California State Teachers Retirement System $1,146,082 $18,807,954 $19,954,036

Northern Trust Global Investments $4,263,344 $15,087,627 $261,995 $19,612,966

Timesquare Capital Management, Inc. $17,538,607 $17,538,607

Teacher Retirement System of Texas $2,495,625 $14,966,460 $17,462,085

TIAA-CREF Investment Management LLC $3,394,558 $13,889,080 $17,283,638

Dalton, Greiner, Hartman, Maher & Co. $17,213,479 $17,213,479

Boston Partners Asset Management LP $15,761,097 $15,761,097

Fidelity Management & Research Co. $1,815 $15,099,723 $15,101,538

3. IMPROVE VELOCITY INC.’S INVESTOR

PRESENTATION (ONGOING)

We are available to provide updates and changes to investor presentations as needed,

or on an ongoing basis.

4. FACT SHEET AND INVESTOR PACKAGE

We will develop a fact sheet after the first quarter of 2004 is reported.

We suggest that Velocity Inc. leverage existing marketing materials (folders and

other printed company information) and cross-utilize this for investor relations purposes.

This can eliminate unnecessary printing costs. We recommend a basic investor

kit that would include the following:

Last 10-K

Last 10-Q

Press releases from the prior six months

Proxy statement

Fact sheet

These materials can usually be mailed in a folder. It is our understanding the

Company is currently considering re-doing its marketing materials. We will attempt

to make sure some of these materials, like folders, can be cross-utilized.

5. IMPROVE THE IR WEB PAGE

In the past quarter, the Velocity Inc.’s website has become SEC compliant as well as

linked to CCBN investor website services. We are continuing to improve the Investor

Relations web page, and the next step is to enhance content, such as adding a company

fact sheet.