Teleplus Consumer Services, Inc. (OTCPK:TPCV) announced it has entered into a Definitive Merger Agreement with Scrip Advantage, Inc. of Fresno, CA. The respective Boards of Directors of Teleplus and Scrip have approved the merger with Scrip being the surviving corporation. The transaction will close on December 17, 2004.

Scrip Advantage, Inc., is a business-to-business direct marketing company, specializing in issuing "Gift Cards" or "Gift Certificates" for over 300 of the largest, most respected merchant retailers and service providers in the U.S. Scrip has nearly doubled its sales each year since 2001 and is currently operating at a revenue run-rate of over $200 million. Industry-wide, it is believed that the total 'gift card' industry scrip sales are approximately $45 billion annually and projected to exceed $75 billion in 2005.

Roger Tichenor, CEO of Teleplus stated, "I am excited for our shareholders to have found a great company in Scrip Advantage as a merger partner."

John Coyle, CEO of Scrip Advantage said, "as a publicly-traded company we will have greater access to resources necessary to achieve our goals of strong growth and profitability. Our primary goal is to become the dominant company in this industry achieved through internal growth and selective acquisitions."

CONTACT INFORMATION:

Corporate Web Site:  www.scripadvantage.com
Corporate Contact:  Renee' Von Hagel               (559)-438-4400

"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Teleplus to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Teleplus Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Teleplus assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.