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TORONTO, ONTARIO--(Marketwire - May 31, 2010) - SelectCore Ltd. (TSX VENTURE:SCG), a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market, is pleased to report its financial results for the first quarter ended March 31, 2010.

Financial highlights:

• Revenues increased 13.9% to $20.73 million over the same period 2009.
• Gross Profit increased 3% over the same period 2009.
• Working Capital position improved 112% over the same period 2009.
• 7^th consecutive quarter of EBITDA positive financial results
• Closed $5M debt financing facility

Revenues of $20.73 million for the first quarter 2010 represented an increase of 13.9% as compared to $18.19 million in the same period 2009. This organic growth was attributable to the strong market demand for the Company's proprietary PrepaidONE point of sale activation (POSA) solution and prepaid products and services.

Gross profit of $1.09 million for the first quarter 2010 represented an increase of 3% over the same period 2009. The improvement is due to higher sales volumes combined with increased margins. Net income for the first quarter 2010 was ($737,450). The loss was a primarily due to the costs incurred with the $5 million debt financing facility.

The Company's Financial Statements and Management Discussion and Analysis for the three months ending March 31, 2010 are available on SEDAR at [ www.sedar.com ].

About SelectCore:

SelectCore is a leading provider of point-of-sale transaction processing and electronic distribution solutions for the prepaid telecom and financial services market. Our proprietary PrepaidONE technology platform and extensive retail network delivers a full suite of prepaid products to millions of credit-challenged and unbanked consumers nation-wide. We also provide wholesale solutions to some of the industry's largest distributors, retailers and telecom providers. SelectCore is a public company on the TSX Venture Exchange trading under the symbol "SCG". We were ranked one of the nation's top 100 fastest-growing companies in 2006 and 2007 by Profit100.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.