COCC WINS CORE AND STRATEGIC PRODUCT CUSTOMERS

AVON, Conn., March 30, 2005 – COCC, a leading provider of next generation data processing services to financial institutions throughout the United States, signed 38 service agreements with 26 institutions in the first quarter of 2005. The agreements cover a broad range of services, including core processing, financial management, branch image capture and risk management.

“We are pleased to see sustained growth throughout our service offering,” said Richard A. Leone, President and CEO. “The marketplace is rewarding our Total Quality Processing approach to outsourced technology services. Total Quality Processing combines state-of-the-art technology solutions with strong client relations, innovative service strategies and superior cost control. Our growth this year shows that Total Quality Processing delivers excellent results.”

Among the 38 agreements are four core (account) processing contracts, seven branch image capture agreements, another seven agreements to utilize Oracle® Financials, and four more to CRM services. The remaining 16 agreements involve automated risk prevention systems, network services and Internet security offerings, another growing area of information technology for financial institutions.

“The key to COCC’s success is the quality of our service solutions,” said Leone. “Each one is a known leader in its respective product area. Financial institutions appreciate the breadth and depth of COCC’s product line. Purchasing these solutions as fully-supported, outsourced services from a single provider is the winning formula for information technology today.”

Through the first six months of COCC’s current fiscal year, unaudited financials show a 9% increase in gross revenues over the prior year. Leone attributed that growth to the company’s strong reputation, greater numbers of core processing accounts, and sales of strategic products to non-core clients.

“Until a few years ago, we limited sales of our strategic products such as check imaging, secure networking, financials, and electronic banking products to core clients,” explained Steve Kayser, Senior Vice President, Marketing. “We now market these and other strategic products to all financial institutions, regardless of the core systems they use. This has resulted in strong growth as the market discovers our products’ value.”

Security and compliance concerns have further fueled strategic product sales, particularly in the network services area. Sales of products that mitigate Internet security risks and document security procedures undertaken by the financial institution have been very strong. COCC not only sells these products but goes on site to install them and then supports these products on an on-going basis.

Additional security concerns have brought a flurry of new COCC products to market, including a service bureau Anti-Money Laundering system and new reporting tools aimed at meeting regulatory reporting needs. Branch image capture has also driven strong growth as financial institutions gear up for image exchange and the closing of Federal Reserve check processing centers.

“We are extremely pleased to see our message of comprehensive service and state-of-the-art technology producing solid results,” said Kayser. “We look forward to serving a greater number of clients as they realize the value of COCC’s Total Quality Processing.”