DataTreasury Inks Pact With Bank Hapoalim

Business Wire, Jan 24, 2002

Business Editors

MELVILLE, N.Y.--(BUSINESS WIRE)--Jan. 24, 2002

DataTreasury Corporation announced here today that it has concluded an agreement with Bank Hapoalim B.M. for the Israel-based bank and its subsidiaries to become end-users of DataTreasury's proprietary eImageVault(TM), a product extension of the patented eCheckVault(TM)check image platform.

The seven-year contract will allow Signature Bank, a wholly-owned Bank Hapoalim subsidiary, to transmit, store, receive and retrieve archived checks and payment coupon transactions as well as other financial and commercial transaction data, using the DataTreasury patented global repository system.

Terms of the agreement were not disclosed.

"This business relationship continues to underscore what we have been saying about the multiversity of this product and the real fact that this is the beginning of a trend which will revolutionize the banking industry," offered DataTreasury Chairman Claudio Ballard. "It's not only a very cost-effective product, but very secure. Businesses and consumers alike are going to love it."

Signature Bank's Director of Cash Management Gerard Magaldi commented that the Bank had been seeking just such an innovative product for quite some time to add functionality to their lineup of cash management services. "eImageVault opens up new opportunities and markets for us. It is a way we can improve and add value to the Signature client experience. "

About Data Treasury Corporation

DataTreasury Corporation (www.datatreasury.com), founded in 1998, is a Melville, Long Island, New York-based company at the forefront of ensuring private, secure transactions worldwide. DataTreasury's patented eCheckVault(TM) system enhances existing check processing solutions, while allowing the growth of a complete online transaction strategy. This technology is applicable in virtually all market sectors.

About Bank Hapoalim, B.M.

Bank Hapoalim, Israel's largest bank based in Tel Aviv, serves the nation's corporate community and retail market in virtually every area of banking. Founded in 1921 and with over $52 billion in assets, it is the only Israeli bank listed on both the London and Tel Aviv Stock Exchanges. The bank has 29 branches, subsidiaries and offices in North America, Latin America and Europe in addition to 329 branches in Israel. As a full-service financial institution, Bank Hapoalim, with its extensive global resources and experienced local presence is committed to personalized client service. In keeping with this commitment, Bank Hapoalim expanded its reach in the United States with the launch of Signature Bank and Signature Securities in 2001.