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FFFC News FastFunds Financial Announces Second Quarter Financial Results

The June 30, 2005 statements of operations include certain non-cash charges totaling approximately $1,930,000, comprised of depreciation and amortization expense of $769,531, amortization of discount on convertible promissory notes payable related to beneficial conversion features of $1,187,734 and non-cash interest expense of $63,228, which were partially offset by recovery of valuation allowance of $90,000. In addition, management estimates approximately $501,000 in non-recurring expense was incurred during the first half of 2005 related to FastFunds' international operations and marketing efforts.

The June 30, 2004 statements of operations contain certain non-cash charges, including depreciation and amortization expense of $577,046, amortization of discount on convertible promissory notes payable related to beneficial conversion features of $100,000, non-cash interest expense of $31,856, provision for losses on related party note receivable of $144,000, allocated expenses from FastFunds' parent company Equitex, Inc. of $91,000, deferred income taxes of $473,000 and stock based compensation expense $252,000, which totaled $1,668,902.

FastFunds Financial Corporation is a holding company operating through its wholly owned subsidiary, Chex Services, Inc. of Minnetonka, Minnesota. The Company specializes in, and is the industry leader for, full booth operations to Native American casinos and has developed a suite of cash access products for use in the traditional gaming and retail markets. Chex Services' website is located at www.fastfundsonline.com. The Company is majority owned by Equitex, Inc. (Nasdaq:EQTX), a holding company based in Englewood, Colorado.

(table follows)

           FastFunds Financial Corporation and Subsidiaries
            Selected Condensed Consolidated Financial Data
       Three and six month periods ended June 30, 2005 and 2004

                      Three months ended         Six months ended
                           June 30,                  June 30,
                   ------------------------- -------------------------
                        2005         2004         2005         2004
                    -----------  -----------  -----------  -----------

Fee revenue        $ 4,572,406  $ 3,458,260  $ 8,986,549  $ 6,921,363
Location expenses   (3,422,631)  (2,547,709)  (6,665,370)  (4,978,609)
                    -----------  -----------  -----------  -----------
   Location gross
    margin           1,149,775      910,551    2,321,179    1,942,754

Corporate operating
 expenses           (1,479,376)  (1,791,936)  (2,914,555)  (2,905,078)
                    -----------  -----------  -----------  -----------
Loss from operations  (329,601)    (881,385)    (593,376)    (962,324)

Other income
 (expense), net       (949,732)    (339,809)  (1,908,289)    (548,902)
                    -----------  -----------  -----------  -----------
Loss before income
 taxes              (1,279,333)  (1,221,194)  (2,501,665)  (1,511,226)

Income tax expense      (8,000)    (473,000)     (16,000)    (479,000)
                    -----------  -----------  -----------  -----------

Net loss           $(1,287,333) $(1,694,194) $(2,517,665) $(1,990,226)
                    ===========  ===========  ===========  ===========

Basic and diluted
 loss per share    $     (0.12) $     (0.22) $     (0.24) $     (0.26)
                    ===========  ===========  ===========  ===========

Weighted average
 number of common
 shares outstanding 10,502,638    7,858,763   10,462,459    7,779,381
                    ===========  ===========  ===========  ===========

The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Securities and Exchange Commission filings of FastFunds Financial Corporation (f/k/a Seven Ventures, Inc.) or its majority owned parent company Equitex, Inc.; economic downturns affecting the operations of FastFunds Financial Corporation its subsidiaries or companies proposed for merger or acquisition; the loss of contracts or failure to acquire new contracts; success of any legal actions; failure to successfully implement newly developed product lines including projected increases in revenues or earnings; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by FastFunds Financial Corporation or its subsidiaries; failure to obtain or maintain regulatory approval for products and services offered by FastFunds Financial Corporation or its subsidiaries; adverse equity market conditions and declines in the value of FastFunds Financial Corporation common stock; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and FastFunds Financial Corporation disclaims any intent or obligation to update these forward-looking statements.