CKFR Checkfree Corp (MM)

Dominion Selects Joint Accounts Receivable Conversion System from CheckFree and Unisys; Experiences Cost Benefits Boosted by High Conversion Rates - CheckFree and Unisys Partner to Offer Certified Accounts Receivable Conversion Processing Solutions to Utilities and Communications Companies - ATLANTA, April 4 /PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) and Unisys (NYSE:UIS) today announced an agreement to provide CheckFree's leading accounts receivable conversion (ARC) processing services to corporate users of Unisys Remittance Processing Solution (RPS) in the utility and communications industries. The two technologies are now certified by each company as an integrated platform for use by billing organizations. Dominion (NYSE:D), one of the nation's largest producers of energy, is the first customer for this complete ARC combined solution and has already realized business-level benefits including reduced processing costs, reduction in return items and improved funds availability. By implementing an ARC solution built upon CheckFree's long history in electronic bill payment processing, customers of Unisys RPS system can deploy a comprehensive ARC system to convert consumer checks in Automated Clearing House (ACH) transactions. For Dominion, the combined products have delivered high ARC conversion rates, low administrative return and opt-out rates, and a significant return on its technology investment. "We identified ARC as an essential remittance processing tool for our back office because of its benefits," said Gwen Beadles, director -- Customer Billing and Payment Services for Dominion. "We needed a system that could integrate into our existing infrastructure, while providing risk management and exception handling. Our metrics in all areas, including conversion, administrative returns and opt-out rates have been positive. The check electronification process has been well accepted by our customers." With Dominion's selection of CheckFree's ARC solution, CheckFree is enabling its billing customers to more effectively manage their revenue collection cycle -- from the delivery and payment of bills to the back-office processing of consumer check payments. In addition to this implementation, Dominion also uses CheckFree i-Series software to deliver highly interactive electronic bills and statements to its residential and business customers through its own Web site and offers CheckFree e-Bill(R) to deliver bills electronically to consumers through CheckFree's electronic billing and payment distribution network of banks, brokerages, credit unions and Internet portals. Dominion also provides in-person payment options to consumers using CheckFree's network of retail outlets and Dominion bill payment centers. "Unisys delivers leading back-office payment processing solutions that are used by some of the nation's largest telecommunications and utilities companies," said Matt Lewis, executive vice president of Client Development for CheckFree Services Corporation. "At CheckFree, we have developed a comprehensive infrastructure that supports a large volume of electronic bill payments from consumers to billers, and that processing now includes ARC transactions for billing organizations. As a result, we are uniquely positioned to deliver highly scalable systems to large billing organizations while maintaining superior conversion and low administrative return rates." "Organizations look to Unisys to deliver greater efficiencies in their payment processes, and the CheckFree ARC solution is an excellent offering in our portfolio of solutions to meet that demand for utilities and communications companies," stated Michael V. Esposito, practice director for the Remittance Processing Solution at Unisys. "As a leader in electronic billing and payment and ACH software, CheckFree brings a high degree of quality, efficiency and expertise to the world of ARC transaction processing. We look forward to working with CheckFree to bring similar quality and efficiency levels to the lockbox remittance operations at utility and communications corporations throughout North America. At Unisys, we will continue to leverage our deep industry and domain expertise to expand our leadership position in the remittance and lockbox marketplace for various industries with world class solutions." Payments 2005 Conference Presentation Dominion Director, Gwen Beadles, and CheckFree Director of Product Management, Chris Adkins, will be presenting a case study on back-office remittance processing, including details regarding the company's use of CheckFree and Unisys's ARC solution, on Tuesday, April 12 at the Payments 2005 conference in San Antonio. The case study is titled "Advanced ARC Operations: Challenges & Payoffs" and will be held in room 001B of the Henry B. Gonzalez Convention Center. About Dominion Dominion is one of the nation's largest producers of energy, with an energy portfolio of about 28,100 megawatts of generation, about 6 trillion cubic feet equivalent of proved natural gas reserves and 7,900 miles of natural gas transmission pipeline. Dominion also operates the nation's largest underground natural gas storage system with more than 960 billion cubic feet of storage capacity and serves retail energy customers in eight states. For more information about Dominion, visit the company's Web site at http://www.dom.com/. About Unisys Unisys is a worldwide information technology services and solutions company. Our people combine expertise in consulting, systems integration, outsourcing, infrastructure and server technology with precision thinking and relentless execution to help clients, in more than 100 countries, quickly and efficiently achieve competitive advantage. For more information, visit http://www.unisys.com/. About CheckFree (http://www.checkfreecorp.com/) Founded in 1981, CheckFree Corporation (NASDAQ:CKFR) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage more than $1 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two-thirds of the 10 billion Automated Clearing House transactions in the United States. The division also provides reconciliation, financial messaging, compliance and electronic billing and statement software to hundreds of organizations across the globe. Certain of CheckFree's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in CheckFree's business, and other risks and uncertainties detailed from time to time in CheckFree's periodic reports filed with the Securities and Exchange Commission, including CheckFree's Annual Report on Form 10-K for the year ended June 30, 2004 (filed September 3, 2004), Form 10-Q for the quarter ended September 30, 2004 (filed November 9, 2004) and Form 10-Q for the quarter ended December 31, 2004 (filed February 8, 2005). One or more of these factors have affected, and could in the future affect CheckFree's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this press release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by CheckFree, or any other person, that the objectives and plans of CheckFree will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and CheckFree assumes no obligation to update any forward-looking statements. DATASOURCE: CheckFree Corporation CONTACT: Media relations - Judy DeRango Wicks, +1-678-375-1595, Investor relations - Tina Moore, +1-678-375-1278, both for CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.dom.com/ http://www.unisys.com/

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