Currency Exchange International Announces a 10% and 22% Increase in Revenue for the Three and Nine-Months Ended July 31, 2023 versus the Prior Year.

TORONTO: Currency Exchange International, Corp. (the "Group" or "CXI") (TSX: CXI; OTCBB: CURN), announces its financial results and Management's Discussion and Analysis ("MD&A") for the three and nine-month periods ended July 31, 2023 (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.

Randolph Wolfgang Pinna, CEO of the Group, stated, "The third quarter of 2023 demonstrated strong year-over-year growth as increased demand for international travel continues. The return to more traditional seasonality in travel patterns have translated into the third quarter showing continued strong growth in banknotes revenue. Continued execution against our strategic plan, in which significant investments are being made in our people, infrastructure and technology platforms to support more efficient future growth remains a top priority. The third quarter continued the successful transition to our new organizational structure that took effect on November 1, 2022, and I am confident that we have the right team and systems to achieve our vision of remaining a leading preferred provider of foreign exchange solutions for financial institutions globally."

Corporate Highlights for the three-months ended July 31, 2023:

The Group experienced significant growth, 11% in the Banknotes product line with increased market share as both wholesale and consumer demand for foreign currencies continued to improve as international travel reaches near pre-COVID levels in both the U.S. and Canada;

The Group continued its focus and investment in the International Payments product line, having processed 32,675 payments transactions, representing $2.6 billion in volume in the three-month period ended July 31, 2023. This compares to 29,824 transactions on $2.7 billion of volume in the three-month period ending July 31, 2022;

The Group increased growth in the financial institutions sector in the U.S. with the addition of 157 new clients, representing 377 transacting locations; and

The Group continued its growth in the direct-to-consumer market, adding 13 new airport agent locations and 14 new non-airport agent locations.

Financial Highlights for the three-months ended July 31, 2023, compared to the three-months ended July 31, 2022:

Revenue increased 10% or $2.2 million to $23.3 million for the three-month period ended July 31, 2023, as compared to $21.1 million in...