Clareon Receives SAS 70 Type II Report; Service Audit Assures Customers with In-Depth, Independent Assessment of PayMode Operational and Security Controls

Business Wire, June 17, 2002

Business/Technology Editors

PORTLAND, Maine--(BUSINESS WIRE)--June 17, 2002

Clareon Corporation, provider of PayMode(TM), the only bank-neutral, electronic payment solution enabling secure, information-rich, business-to-business transactions, today announced it has received an unqualified opinion in a Statement of Auditing Standards No. 70 (SAS 70) Type II Service Auditor's Report. The SAS 70 Type II Report documents and tests the operational and security controls of PayMode, Clareon's market-leading payment and remittance processing solution.

The independent certified public accounting firm of Berry, Dunn, McNeil & Parker performed the SAS 70 audit in accordance with guidelines from the American Institute of Certified Public Accountants (AICPA).

The SAS 70 Type II Report focuses on three major control areas at Clareon:

-- Application Controls relating to user authentication, contract compliance, and customer transaction and information integrity

-- General Controls relating to management oversight of systems, software development, and procedures for delivering the PayMode service to customers

-- Security Controls relating to confidentiality as well as systems and physical security at Clareon.

The assessment was conducted over a seven-month period, ending May 31, 2002.

"Clareon maintains a total commitment to its customers' safety and satisfaction," said Paul Walsh, chairman and CEO of Clareon. "The unqualified opinion we received clearly shows that Clareon is fulfilling its promise to our customers of maintaining the highest standards of security and integrity, a promise we make with conviction."

"The SAS 70 audit, as one of the most rigorous and recognized forms of third-party validation in the industry, represents that Clareon's operations meet the demanding standards for moving funds and critical information," said Ken Deveaux, director of business-to-business eCommerce at FleetBoston Financial, a Clareon strategic partner and reseller of PayMode. "As a financial institution, Fleet requires comprehensive controls from its service partners. Clareon's successful completion of a SAS 70 audit gives us a high level of confidence as we continue to deliver PayMode to our corporate customers."

About Clareon Corporation

Clareon's market-leading PayMode(TM) enables businesses to send and receive electronic payments, along with rich remittance information, to and from suppliers and customers, providing enhanced business performance. PayMode works seamlessly with any bank and integrates quickly and easily with any ERP system or accounting software. Clareon also ensures that its customers realize value quickly by signing up their suppliers, vendors, service providers and customers on their behalf with its proven Accelerated Enrollment Program. PayMode lowers payment costs, creates a more efficient business process, strengthens relationships with suppliers and customers, and enables more effective management of working capital. Thousands of companies and government organizations comprise Clareon's growing network of PayMode users, including more than 85 Fortune 500 enterprises. Clareon is headquartered in Portland, Maine. For more information on Clareon, visit www.clareon.com.