The National Clearing House Association —NCHA— to Provide National Settlement Services for Endpoint Exchange Network Members

Business Wire, April 10, 2003

Business Editors

OKLAHOMA CITY--(BUSINESS WIRE)--April 10, 2003

Success With 12th District Check Image Exchange Pilot Encourages

NCHA and CheckClear to partner on National Level

The National Clearing House Association (NCHA), and CheckClear, LLC, owner of the Endpoint Exchange Network, today announced final agreement under which NCHA will become the national settlement agent for check image exchange across all 12 Federal Reserve Districts, including all inter-district activity between those Districts. COCHA (the Central Oklahoma Clearing House Association) will continue to settle all intra-district volume confined within the 10th Federal Reserve District.

The agreement announced today follows the successful launch of a check image exchange pilot in the 12th Federal Reserve District. The pilot has grown to include 453 financial institutions, or 23% of the total number of financial institutions in the 12th District.

"The check image exchange pilot in the 12th District is progressing exceptionally well," said Fred Redeker, President of NCHA. "We look forward to expanding our relationship with the Endpoint Exchange Network to offer check image exchange nationally. We will leverage our experience as the premier national settlement provider with the electronic check clearing and settlement capabilities of the Endpoint Exchange Network to offer check image exchange services to every financial institution across the country."

"Lowering check clearing costs and accelerating the collection of checks is just part of the benefits of check image exchange," said Bob Bean, Chairman of NCHA. "Image exchange will reduce the number of adjustment transactions, assist with fraud reduction, and for banks that are early entrants, provide revenue opportunities. CheckClear's arrangement with the National Clearing House Association to be the settlement agent for the image exchange provides for the banks to settle the exchange on a national basis and brings the industry one step closer to the goal of utilizing a national standardized settlement platform."

"Forming a strategic alliance with NCHA is essential to our goal of making the Endpoint Exchange Network the premier national network for electronic check image exchange, clearing and settlement services," said Mark Craig, General Manager of CheckClear, LLC, owner of the Endpoint National Check Image Exchange Network. "In addition to providing low cost check exchange and settlement services for their own members, NCHA settles check transactions for many other clearinghouses nationwide. NCHA is the single largest settler of check volume cleared through United States clearinghouses and we are delighted to have them as our national settlement agent for the Endpoint Exchange Network."

About the Endpoint Exchange Network

Use of CheckClear LLC's Endpoint Exchange Network, based in Oklahoma City, enables U.S. financial institutions clear their check-based transactions by allowing for the exchange of check images between member banks, thrifts, credit unions, service bureaus, clearinghouses, and the Federal Reserve. The Endpoint Exchange Network is the country's first and only electronic check clearing network that capitalizes on existing imaging infrastructure and settlement relationships, with the goal of connecting every endpoint in the nation. Learn more about the Endpoint Exchange Network at www.endpointexchange.com.

About The NCHA

The new NCHA is a not-for-profit association of member financial institutions formed for the purpose of providing members with low cost check exchange and settlement services. In addition to services for NCHA members, it settles check transactions for seven other clearinghouses located in Colorado, Florida, Kansas, Missouri, New Mexico, Utah, and the Fourth Federal Reserve District Clearing House Association. With the combined activity, NCHA settles approximately 17.8 million items a day valued at approximately $11.9 billion. This represents almost half of all the check volume cleared through all of the nation's clearinghouses. Visit NCHA on the Web at www.thencha.com.