CheckWorks, Inc. Experiences Significant Growth in Business in 2003

Company milestones reflect commitment to technology, industry

Atlanta, GA – July 30, 2003 – CheckWorks, Inc., a Georgia-based enterprise-wide document imaging solutions company for financial institutions, announced it has increased its business by 91 percent over 2002. The company, founded in 1996 in Atlanta, provides enterprise-wide document imaging solutions to financial institutions, including one of the largest banks headquartered in the Southeast.

Additionally, the company has also increased its full-time employee staff significantly, adding to the more than 40 years of total industry experience held by current CheckWorks employees. To assist the company with the increase in workload and responsibility, CheckWorks has also created a subcontracting staff of eight experienced technical professionals who are working full-time on software development and customization projects.

According to recent Federal Reserve studies, roughly 40 billion checks were written in the United States in 2002, down from approximately 50 billion in 1995. Allan Edmonds, president and co-founder of CheckWorks, attributes much of his company’s success over the past year to this very statistic.

“The method in which consumers and financial institutions deal with paper checks is clearly changing,” said Edmonds. “The drastic push toward document imaging over the past few years has definitely had a positive impact on our business. Particularly with the advent of the Check Truncation Act, we see the issue of check and document imaging becoming an even greater challenge for all financial institutions going forward into 2004.”

Another area of focus for CheckWorks has been the expansion of its development and support environment. The company now maintains two separate data centers with remote access to development servers, which allows the developers to have access from various locations. “In addition, we now have our own dedicated mainframe computer for our development, testing and support needs of our mainframe software,” said Brian Heiss, CTO and co-founder of CheckWorks. “The addition of hardware and network infrastructure significantly improves our ability to quickly respond to development and support activities.”