Press Release

BANKSERV AND POLITZER & HANEY TEAM TO PROVIDE INTERNET-BASED WIRE TRANSFER SERVICES

April 23, 2001 - SAN FRANCISCO, CA and NEWTON, MA — BankServ, one of the nation's leading providers of payment services, and Politzer & HANEY, the leading provider of Internet-based business banking systems, together announced today that they have joined forces to provide Web-based automated wire transfer services to banks and corporations.

BankServ is one of the country's leading providers of wire transfer outsourcing and licensed software services. Its Global Funds Exchange (GFX) automated wire transfer software solution is currently used by more than 30 banks and financial services holding companies, representing more than 100 U.S. firms, to move funds through the Fedwire system.

Politzer & HANEY leads the corporate banking marketplace with more than 60 "in production" Internet-based customers deploying their comprehensive suite of cash management products. Politzer & HANEY offers their solution in both an in-house and outsource environment, with roughly two-thirds of their customers opting for the hosting environment and processing in excess of 1,000,000 payment transactions per month.

"BankServ's GFX system is unique in the marketplace and it will greatly enhance our cash management suite," said Robert Joyce, vice president of Politzer & HANEY's Business Development Group. "We see BankServ as a great fit for our clients that are seeking a 'best of breed' solution and this alliance will bring an end-to-end wire payment solution that has not previously been available, thereby answering and fulfilling a longstanding need in the corporate marketplace."

Mike Dionne, vice president and general manager of BankServ's wire transfer services, said that wire transfers are a critical function for most financial institutions, but automating the screening process for wire transfers required by federal regulations is complex. "Wire transfers are final, and irrevocable," said Dionne. "They have to be done correctly and securely the first time. Banks especially want a secure, reliable, scalable, cost-effective and easy-to-use automated wire transfer system, and more of them are asking for Web-enabled systems."

U.S. financial institutions execute $380 trillion of wire transfers over Fedwire annually, according to the Federal Reserve Bank. Electronic funds transfers over $10,000 are regulated by the federal Office of Foreign Asset Control (OFAC), the U.S. Bank Secrecy Act (BSA) and the Federal Reserve.

About Politzer & HANEY

Politzer & HANEY is the leading provider of Internet-based corporate banking solutions to the financial services industry. Since establishing its presence in 1983, Politzer & HANEY has pioneered DOS, Windows and Web-based offerings for financial institutions to offer to their corporate clients, allowing them to successfully manage their treasury-related activities. Politzer & HANEY is headquartered in Newton, Mass. Additional information can be found on the Web, at www.ph.com, or by calling 617.796.7700.