Currency Exchange International Announces Financial Results for the Thirteen - Month Period Ended October 31, 2013

Currency Exchange International Announces Financial Results for the Thirteen-Month Period Ended October 31, 2013

January 9, 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 four-month and thirteen-month periods ended October 31, 2013 (all figures are in U.S. dollars except where otherwise indicated). The complete and detailed financial statements and MD&A can be found on the Company's SEDAR profile at  www.sedar.com.

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 consolidated financial statements are presented as the thirteen-months ended October 31, 2013 compared to the year ended September 30, 2012. The MD&A presents financial information for the four-months and thirteen-months ended October 31, 2013 compared to the three-months and year ended September 30, 2012.

Financial Highlights for the Four-Month Period Ended October 31, 2013 Compared to the Three-Month Period Ended September 30, 2012:

• Revenues increased 92% to $6.5 million for the four-months ended October 31, 2013 from $3.4 million for the three-months ended September 30, 2012;
• Operating income increased 55% to $2.2 million for the four-months ended October 31, 2013 from $1.4 million for three-months ended September 30, 2012;
• The Company raised Cdn$10.8 million in equity through the exercise of 1,435,725 common share purchase warrants, which expired on September 8, 2013, representing over 98% of the warrants available for exercise bringing the total number of shares issued and outstanding to 5,390,473;

• $1.5 million for the three-months ended September 30, 2012. Net income includes a one- time non-cash fair value adjustment for the warrant liability which expired September 8, 2013. This fair value adjustment increased net income by $0.3 million for the four- months ended October 31, 2013 and by $0.9 million for the three-months ended September 30, 2012. Net income before this one-time non-cash adjustment  is  $1.4 million for the four-months ended October 31, 2013 and $0.6 million for the three months ended September 30, 2012. The increase in net income was due primarily to a $0.8 million increase in operating income;
• The Company added four new retail branch locations in Maryland, Illinois, California, and New York; and
• The Company added 31 new clients representing approximately 900 locations during the four-months ended October 31, 2013.

The Company's total revenue for the four month period ended October 31, 2013 was $6.5 million compared to $3.4 million for the three month period ended September 30, 2012. Revenues increased 50% in Canada compared to the same period of the previous year while revenues generated in the United States increased by nearly 98%. Certain expenses, including salaries and benefits, stock based compensation and rent were higher during the period to support the expansion of Currency Exchange International of Canada Corp. and the Company's branch and client network.

Financial Highlights for the Thirteen-Month Period Ended October 31, 2013 Compared to the Year Ended September 30, 2012:

• Revenues increased 30% to $16.0 million for the thirteen- months ended October 31, 2013 from $12.3 million for the year ended September 30, 2012;
• Operating income increased 13% to $4.0 million for the thirteen-months ended October 31, 2013 from $3.6 million for the year ended September 30, 2012 primarily due to strong revenue growth of 30% offset by increases in operating expenses of 37%, which were a result of additional expenses associated with the Canadian operations, increase in stock based compensation and the costs of opening five new retail branch locations;
• The Company raised Cdn$10.8 million in equity through the exercise of 1,435,725 common share purchase warrants, which expired on September 8, 2013, representing over 98% of the warrants available for exercise bringing the total number of shares issued and outstanding to 5,390,473;
• Net income decreased $0.1 million to $2.6 million for the thirteen months ended October 31, 2013 from $2.7 million for the year ended September 30, 2012. Net income includes a one-time non-cash fair value adjustment for the warrant liability which expired September 8, 2013. This fair value adjustment increased net income by $0.5 million for the thirteen months ended October 31, 2013 and by $1.0 million for the year ended September 30, 2012. Net income before this one-time non-cash adjustment  is  $2.2 million for the thirteen months ended October 31, 2013 from $1.8 million for the year ended September 30, 2012.

• The Company added five new retail branch locations in  Florida, Maryland, Illinois, California, and New York; and
• The Company added 119 new clients representing approximately 3,300 locations during the thirteen-months ended October 31, 2013.

The Company's revenue for the thirteen month period ended October 31, 2013 was $16.0 million compared to $12.3 million for the year ended September 30, 2012, an increase of 30%. Revenues increased over 92% in Canada compared to the same period of the previous year while revenues generated in the United States increased 25%. Certain expenses, including salaries and benefits, rent, and stock based compensation were higher during the period to support the expansion of Currency Exchange International of Canada Corp. and the Company's branch and client network.

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 January 9, 2014 at 2:00 PM (EST). To participate in or listen to the call, please dial the appropriate number:

Toll Free:                                 +1 (855) 336-7594

Conference ID number:           28961947

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: Randolph W. Pinna

President and Chief Executive Officer 407.240.0224

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts and statements as to management’s expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, proposed entry into the Canadian financial services industry, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “preliminary”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions.

Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Company’s actual results, performance or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry, currency exchange risks, the need for the Company to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Company’s proprietary rights, the effect of government regulation and compliance on the Company and the industry in which it operates, network security risks, the ability of the Company to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel, global economic deterioration negatively impacting tourism, volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital, and the regulatory approval process for a new Canadian Schedule I bank, as well as the factors identified throughout this press release and in the section entitled “Risks and Uncertainties” of the Company’s Management’s Discussion and Analysis for Thirteen-Month Period Ended October 31, 2013. The forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date such information is otherwise stated to be