COCC RELEASES SECOND SYSTEM UPGRADE FOR 2004

AVON, Conn — DECEMBER 7, 2004 — COCC, a leading provider of next generation data processing services for community banks and credit unions, has released its second core system upgrade for 2004. The upgrade contains over 70 enhancements that streamline teller, CSR and back office functionality while expanding information available to strategic products such as commercial loan and overdraft privilege solutions. Upgrades to all of the company’s 120 core processing clients were completed prior to Thanksgiving.

“When this release is combined with our earlier release effort in July and our enhancements to escrow processing, we will have delivered over 200 improvements to our clients’ core processing this year,” said John Huber, COCC’s First Vice President — Systems and Programming. “The result is greater efficiency, expanded information availability and more end customer information for our financial institution clients.”

The two 2004 releases emphasize priority items as designated by COCC and its client advisory committees. The focus of these items is system efficiency, which touches every operating area of today’s financial institution, including the teller, CSR and back room accounting functions such as the calculation and posting of interest, service charges, loan bills and the generation of customer statements and regulatory reporting.

“We cut the time for escrow processing substantially,” Huber noted. “We improved ATM reconciliation, safe deposit management, and teller information. We also enhanced the flow of information to a broad range of strategic systems, particularly commercial customer management, overdraft privilege, asset/liability management, custom report writing and sales tracking.”

Additional enhancements enable COCC’s client institutions to collect, analyze and display a customer’s investment information along with their checking, loan and CD accounts. “This enables our community bank and credit union clients to see a more complete view of the customer,” said Huber.

The two system releases represent a team effort between all functional areas of the company. Systems and Customer Service staff assessed client needs. Systems and Programming then coded and tested the releases while Customer Service documented the changes. The company’s Network Support group developed the installation procedures, including troubleshooting services in case installation issues occurred. All staff worked closely together at the company’s headquarters in Avon, Connecticut.

“Close working proximity is a significant factor in the quality of each system release,” Huber noted. “Our quality assurance people alone logged more than 1800 hours testing the current release. Most of our staff worked in a banking environment prior to COCC. They are passionately dedicated to assuring that our upgraded products meet client needs.”

“The depth of this release and the improvements it delivers to our client institutions exemplify the company’s new brand name: Total Quality Processing,” said Huber. “We believe that today’s financial institutions expect this higher level of service and will continue to raise the ante going forward. COCC’s open platform and service methodology position us well to meet and exceed our client’s expectations.”