Currency Exchange International Announces Financial Results for the Three and Six Month Periods Ended April 30, 2014

Currency Exchange International Announces Financial Results for the Three and Six Month Periods Ended April 30, 2014

June ​4, 2014

Toronto, Canada – Currency Exchange International, Corp. (the “Company”) (TSX:CXI; OTCBB:CURN), is pleased to announce its financial results and present the management's discussion and analysis ("MD&A") for the three and six month  periods  ended  April  30, 2014 (all figures are in U.S. dollars except where otherwise indicated). The complete financial statements and MD&A can be found on the Company's SEDAR profile at www.sedar.com.

Financial Highlights for the Three Month Period Ended April 30, 2014 Compared to the Three Month Period Ended March 31, 2013:

• Revenues increased 54% to $4,487,000 for the  three  month period  ended  April 30, 2014  from $2,919,000 million for the three month period ended March 31, 2013;
• Net operating income increased 120% to $1,109,000 for the three month period ended April 30, 2014 from $505,000 for three month period ended March 31, 2013;
• Net income increased to $467,000 for the three month period ended April 30,  2014 from a loss of $575,000 for the three month period ended March 31, 2013. The increase in net income was primarily due to a $604,000 increase in net operating income and a reduction in the fair value change in the Company’s warrant liability from a loss of
• $639,000 for the three months ended March 31, 2013 to $Nil in the current period;
• The Company completed the purchase of certain assets of U.S. Exchange House, Inc. (“USEH”) pertaining to bank note operations in the United States and Canada; and
• At April 30, 2014, the Company has added 156  new  clients  representing over 3,200 locations since March 31, 2013.

The Company's total revenues for the three month period ended April 30, 2014 was $4,487,000 compared to $2,919,000 for the three month period ended March 31, 2013. Revenues increased as result of increases in same store sales at branch locations as well as the addition of several wholesale relationships since March  31,  2013.  Certain  expenses,  including  salaries  and benefits, stock based compensation, rent, and other general and administrative expenses were higher during the period to support the expansion of its wholly-owned subsidiary, Currency Exchange International of Canada  Corp. (“CXIC”) and the Company's branch and client network.

Financial Highlights for the Six Month Period Ended April 30, 2014 Compared to the Six Month Period Ended March 31, 2013:

• Revenues increased 50% to $8,614,000 for the  six  month period  ended  April 30, 2014  from $5,727,000 million for the six month period ended March 31, 2013;
• Net operating income increased 136% to $2,080,000 for the six month period ended April 30, 2014 from $882,000 for six month period ended March 31, 2013;
• Net income increased to $918,000 for the  six month period  ended  April 30,  2014 from a loss of $495,000 for the six month period ended March 31, 2013. The increase in net income was primarily due to a $1,198,000 increase in net operating income and a decrease in the fair value change in the Company’s warrant liability from a loss of
• $636,000 for the six months ended March 31, 2013 to $Nil in the current period; and
• The Company completed the purchase of certain assets of USEH pertaining to bank note operations in the United States and Canada.

Change in Reporting Period

Effective February 2013, Currency Exchange International, Corp. changed its fiscal year end to October 31, 2013 to conform with the same change in fiscal year end made by its wholly owned subsidiary corporation, Currency Exchange International of Canada Corp. (“CXIC”) to comply with the reporting period for Canadian chartered banks as part of the ongoing process of CXIC applying for a bank license in Canada. As a result, the condensed interim consolidated financial statements and the MD&A are presented for the three and six month period ended April 30, 2014 compared to the three and six month period ended March 31, 2013.

Selected Financial Data

Seasonality is reflected in the timing of when foreign currencies are in greater or lower demand. In a normal operating year there is seasonality to the Company's operations with higher revenues generated from March until September and lower revenues from October to February. This coincides with peak tourism seasons in North America when there are generally more travelers entering and leaving the United States and Canada.

Conference Call

The Company plans to host a conference call on June 5, 2014 at 10:00 AM  (EST). To participate in or listen to the call, please dial the appropriate number:

Toll Free:                                 +1 (855) 336-7594

Conference ID number:           48820433

About Currency Exchange International, Corp.

The Company is in the business of providing a range of foreign currency exchange and related products and services in North America, including the Hawaiian Islands. Primary products and services include the exchange of foreign currencies, wire transfer payments, purchase and sale of foreign bank drafts and international traveler cheques, and foreign cheque clearing. Related services include the licensing of proprietary FX software applications delivered on its web-based interface, www.ceifx.com (“CEIFX”) and licensing retail foreign currency operations to select companies in agreed locations.

The company’s services are provided in Canada by its wholly owned subsidiary based in Toronto, Canada through the use of its proprietary software www.ceifx.ca.

Contact Information

For further information please contact: Bill Mitoulas

Investor Relations (416) 479-9547

E-mail: [email protected] Website: www.ceifx.com