COCC POSTS STRONG GROWTH IN FISCAL 2003-2004

AVON, Conn. JULY 1, 2004 — COCC, a leading provider of technology services for community banks and credit unions, added 10 new clients in fiscal 2003-2004 without any competitive losses. The strong market performance comes on the heels of COCC’s successful migration of its 97 client institutions from a mainframe, proprietary core system to an open, relational system built on an Oracle data base and developed by Open Solutions, Inc. COCC is the only data processor in the country to accomplish this feat.

“COCC made progress on every front,” said president and CEO Richard A. Leone. “We formed alliances with major industry players, raised the bar on performance, and delivered the systems and enhancements that make it possible for our clients to realize their strategies efficiently.”

The company signed three community banks in its new Ohio territory, additional community banks in Connecticut, Massachusetts, Maine and New York, plus a Massachusetts credit union since the fiscal year began on July 1, 2003. In addition, several clients have contracted for COCC’s strategic products, particularly the Oracle Financials, Check Image processing, and Network Management services.

“Proud as we are of our marketing successes, we are equally proud of our client satisfaction,” said Leone. A quarterly survey of all COCC clients rated the company’s service well above ‘good’ and into the ‘excellent’ range.

“Those ratings and the comments I hear from clients tell me that COCC is providing the support for our community bank and credit union’s strategic initiatives,” said Leone. “That is enormously fulfilling, not only for me but for every COCC employee.”

The company just finished hosting more than 250 attendees at its recent 2004 Client Conference in Manchester Village, Vermont. During the conference, COCC clients participated in two full days of educational sessions focusing on a wide range of topics – from industry best practices related to customer relationship management (CRM) strategies to security, disaster recovery, core system enhancements and electronic banking initiatives. A few weeks earlier, COCC hosted a Check 21 conference that featured representatives from the Federal Reserve, AFSImage, and the Endpoint Exchange Network. Representatives from 65 credit unions and community banks attended that one day conference in Sturbridge, Massachusetts.