NeatReceipts Launches Next Generation Scanalizer with Color and Complete Document Management; Office Depot, OfficeMax, CompUSA and Sharper Image Become Latest Retailers to Carry All-in-One, Portable Scanning Solution

Business Wire, Sept 18, 2006

PHILADELPHIA -- NeatReceipts (www.neatreceipts.com), a company committed to developing user-friendly mobile scanning solutions, today announced Version 2.5 of the NeatReceipts Scanalizer(TM) which is expected to be available in early October. Scanalizer 2.5 is an ideal tool for organizing paper and managing expenses for both business and personal use. Updated to meet the growing needs of its user base, Scanalizer 2.5 now features color scanning, a searchable Document Organizer, improved optical character recognition (OCR) accuracy and scanning speed. All NeatReceipts customers with Scanalizer 2.0 and higher will be eligible for a free 2.5 upgrade.

"Our customers have come to love the Scanalizer's versatility and easy-to-use scanning, so much so that the product has expanded well beyond business-only applications," said Rafi Spero, co-founder and COO of NeatReceipts. "This latest version of the Scanalizer is a direct response to our customers' need to manage and organize the entire paper pile, whether at home, at work or on the road."

Rob Enderle, of the Enderle Group, a leading technology analyst firm, agrees. "The Scanalizer is a great example of creating and improving a product based on well understood customer needs. In this case it's the need to bridge the new digital world of easy to manage documents with the world most of us still live in which is unfortunately still defined by paper that is vastly harder to manage."

Designed to be a complete organizational tool for both home and work, Scanalizer 2.5 features several significant updates, including:

--Color Scanning: To further improve the customer experience, Scanalizer Version 2.5 enables 24-bit color scanning for documents and business cards, recognizing nearly 16 million colors.

--Document Organizer: Users can search for documents according to their own designated attributes, making the module not just a "My Documents" folder, but a searchable database. This software can also easily create PDFs. The newly-added Document Organizer also allows users to organize all types of household and office documents, such as insurance information, tax documents, bills, children's artwork, report cards, product warranties and recipes, or any other paper up to 8.5" wide x 30" long.

--Improved Scanning Speed and Accuracy: The Scanalizer uses patented OCR and parsing technology to capture important information from business cards and receipts, and export into programs like Outlook(R), Excel(R), Quicken(R), QuickBooks(R), and Plaxo. Version 2.5 boasts a 20 percent increase in overall scanning speed, along with a 15 percent increase in business card scanning accuracy.

The Scanalizer is still only 10.8" long, weighs only 10.6 ounces and connects via USB port so it does not require an external power source or battery. Its straightforward design and effortless one-touch scanning, combined with auto-formatting, makes document management easy as it automatically edits, crops, rotates and brightens the image.

Scanalizer Expands Availability

Also announced, the NeatReceipts Scanalizer is being rolled out at Office Depot, OfficeMax, CompUSA and Sharper Image locations nationwide. These new channels significantly expand the device's retail presence, more than doubling in-store retail availability.

Pricing and Availability

Available in early October, Version 2.5 will retail for approximately $199.95, the same price as the current Scanalizer. It will be available at Office Depot, OfficeMax, CompUSA, Sharper Image, Staples, Fry's Electronics, Amazon.com, Buy.com and TigerDirect. Product and company information, as well as downloadable software updates are available at www.neatreceipts.com, which also sells the device for $229.95.

Scanalizer Version 2.5 Technical Specifications:

--Portable 24-bit Color/Grayscale/Black & White CIS (Contact Image Sensor) Scanner

--Maximum Resolution 600 dpi

--Speed: Approximately 5-6 receipts and business cards per minute

--Interface: USB 1.1 & 2.0 compatible

--Scan Area: 1" x 1" to 8.5" x 30"

--Scanner Dimensions (WxDxH) 10.8"x1.6"x1.3"

--Scanner Weight: 10.6 ounces/300.5 grams

--Exports information into Excel(R), Outlook(R), Quicken(R), QuickBooks(R), Money(R), Word(R), PDF, CSV, HTML, v-card and Plaxo.

Editor's note: For additional product information and high-resolution photographs, please go to http://www.neatreceipts.com/news.> About NeatReceipts:

Founded in 2002, NeatReceipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses. The patented NeatReceipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts and business cards into easy-to-read digital spreadsheets. NeatReceipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.