TECHNOLOGY PARTNERSHIP ATTRACTS ABACUS FEDERAL TO COCC

AVON, Conn — JULY 14, 2004 — New York-based Abacus Federal Savings Bank has selected COCC to provide complete outsourcing services for its core, electronic banking, financial, network and check image functions. The bank is scheduled to convert to COCC in December.

The $230M bank serves Chinese communities in New York, New Jersey, and Philadelphia, providing retail banking services plus insurance, securities and medical management services. Abacus also provides business services to U.S. concerns seeking economic relationships in China.

Jill Sung, Executive Vice President at Abacus Federal, said, “We chose a partnership with COCC because our management team believes there’s more to bank systems than just technology. We are making strategic decisions that will help the bank expand its customer relationships and increase its operating efficiency.”

Sung pointed to COCC’s decision to offer open core architecture to all its customers as an example of the new partnership. “Open system architecture is a pre-requisite for implementing and integrating the latest banking product solutions,” said Sung. “With open architecture in place, we can fulfill our product and service requirements at the speed we need.”

When Abacus converts to the COCC system, the bank will introduce a suite of bi-lingual products aimed at deepening its current customer relationships and attracting new clients. Entering the bank, Abacus’ customers will experience the latest in customer security technology, including scans of driver’s licenses and other forms of identification as well as online signature review. “The whole customer experience will be state-of-the-art and secure,” said Sung.

Driving Abacus’ new state-of-the-art customer experiences are new automation and communication techniques that provide near-instant access to information throughout the bank. Sung reported that her staff is already working with COCC’s process engineers to streamline workflows and achieve greater levels of efficiency.

“At every level, COCC understands our needs for efficiency and compliance,” said Sung. “It says a lot about COCC’s focus on banks and its ability to respond to customer need.”

COCC’s President and CEO, Richard A. Leone, added, “COCC’s technology and commitment to the industry is built on choice. We are committed to helping our clients achieve their strategic objectives. By applying next generation technology and support techniques to today’s banking challenges, Abacus will absolutely increase its efficiency and profitability while delivering outstanding service to its customer base.”

Gonzalo Ayala, Senior Vice President and Chief Operating Officer for Abacus Federal, explained, “We see COCC as a growing organization with new and effective ideas for improving bank profitability. My visits to COCC customers confirmed the technology, support, and commitment to working with customers. We look forward to reducing cost and increasing revenue as a result of our partnership with COCC.”

Ayala pointed to COCC’s recent customer signings in Ohio, Connecticut, and Massachusetts as well as 20 new customers added last year as a result of a merger. “Growth is very positive,” said Ayala. “It shows that the market perceives value in COCC’s support for community banks with next generation solutions and customer services.”