COCC TO INTEGRATE CHECKCLEAR’S ENDPOINT EXCHANGE NETWORK AND NCHA

AVON, Conn, June 8, 2004 – Connecticut Online Computer Center Inc. (COCC), a leading provider of next generation financial technology and support services, today announced its agreement with CheckClear, LLC, owner and operator of the Endpoint Exchange Network, and The National Clearing House (NCHA) to provide electronic clearing and settlement services to COCC clients through the country's most advanced image exchange network.

The agreement combines COCC’s check imaging leadership in the Northeastern United States with the Endpoint Exchange Network’s backbone infrastructure for connecting financial institutions to nationwide check image exchange and settlement. As a result, COCC’s clients will gain access to the check processing efficiencies made possible by the Endpoint Exchange Network and the NCHA. In return, Endpoint’s clients will have the potential to access nearly 100 of COCC’s check imaging clients, further strengthening the overall Endpoint image exchange in the Northeast.

“COCC’s agreements with CheckClear and The National Clearing House are strategic components that will usher in the era of check truncation and image exchange for our client institutions,” said COCC’s President and CEO, Richard A. Leone. “We are on track to providing the most effective Check 21 and image exchange solutions available anywhere in our industry.”

CheckClear's Endpoint Exchange Network is the first live electronic clearing network to enable U.S. financial institutions to clear their check-based transactions by exchanging check images between member institutions. Over the past 18 months, CheckClear’s Endpoint Exchange Network and the NCHA have become an important component in financial institutions’ transition from paper to electronic payments.

Over the past four years, COCC has developed into a leading service provider in the Northeast’s checking industry, processing more than 7,000,000 in-clearing items and rendering more than 1,000,000 statements per month in a completely image environment. The company currently provides image transit and in-clearing services to nearly 100 institutions. This is in addition to next generation core, electronic banking, financial management, disaster recovery and network support services.

COCC’s Chief Technology Officer, Joe Lockwood, said, “Our company is focused on developing technology partnerships with its client institutions to keep their technical infrastructure current and affordable. By integrating image exchange providers such as the Endpoint Exchange Network and NCHA, COCC can accelerate the payment cycle, thereby improving funds availability and reducing the risk of check fraud.”

Fred Redeker, President and CEO of The National Clearing House added, “Integrating COCC’s solution into the Endpoint Exchange Network is an important step in expanding image exchange capabilities because it increases the value and benefits to NCHA membership and the industry in general. We are very pleased to welcome COCC and its next generation technology and support into the NCHA family.”

Mark Craig, General Manager of CheckClear, LLC, added, " COCC represents a major expansion of our presence in the Northeast. COCC has been a respected name in the banking industry for nearly 40 years, and we are extremely pleased that check image exchange through the Endpoint Exchange Network will be included as one of their product offerings.”