CKFR Checkfree Corp (MM)

Fifth Third Bank Selects CheckFree(R) PEP+(R) For Scalable, Reliable Automated Clearing House Processing -- With the addition of Fifth Third as a CheckFree PEP+ customer, CheckFree claims 20 of the top 25 ACH originators among its customer base -- ATLANTA, Nov. 8 /PRNewswire-FirstCall/ -- CheckFree Software, a division of CheckFree Corporation (NASDAQ:CKFR), today announced that Fifth Third Bank (NASDAQ:FITB) will deploy CheckFree PEP+ to provide a more efficient and customer-service-oriented Automated Clearing House (ACH) processing solution for its corporate customers. Fifth Third Bank, a leading financial services company, will use PEP+ to provide an online, real-time processing platform that enables the origination and receipt of electronic payments through the ACH. Fifth Third Bank operates 17 affiliate banks with over 1,000 full-service banking centers and ATM operations in Ohio, Kentucky, Indiana, Michigan, Illinois, West Virginia, Florida and Tennessee. Fifth Third currently uses CheckFree ARP/SMS(TM), a real-time check and deposit reconciliation system and CheckFree Frontier(TM) reconciliations solution to drive operational efficiency, reduce costs and provide greater control over risk management. With both Frontier and PEP+, Fifth Third can better manage transaction volumes, increase efficiency and improve customer service. "With the growing number of ACH transactions, Fifth Third needed a reliable, scalable platform to handle our volume today and serve as a foundation for future growth. PEP+ fit the bill," said Mary Jane Kelley, Director of Treasury Management at Fifth Third Bank. "Fifth Third continues to broaden its service offerings for our customers by expanding our relationship with CheckFree Software to provide quicker processing and an integrated solution." CheckFree Software offers superior functionality, automating virtually every step in ACH processing, resulting in greater efficiency and customer service capability. Key PEP+ features include: online access and control for self-service and efficiency, risk management, multi-institutional processing, automated stop payments, automated scheduling, debit authorization and protection and automated settlement and returns. "More than two-thirds of the nation's 10 billion ACH payments are currently processed using PEP+ software," said Denny Oswalt, Senior Vice President and General Manager of North American Operations for CheckFree Software. "By leveraging CheckFree Software's expertise in this area, a company, such as Fifth Third Bank, can realize improved flexibility, reliability and cost efficiency with its streamlined process." About Fifth Third Bancorp Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $98.3 billion in assets, operates 17 affiliates with 1,006 full-service Banking Centers, including 129 Bank Mart(R) locations open seven days a week inside select grocery stores and 1,873 Jeanie(R) ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee and West Virginia. The financial strength of Fifth Third's Ohio and Michigan banks continues to be recognized by rating agencies with deposit ratings of AA- and Aa1 from Standard & Poor's and Moody's, respectively. Additionally, Fifth Third Bancorp continues to maintain the highest short-term ratings available at A-1+ and Prime-1 and is recognized by Moody's with one of the highest senior debt ratings for any U.S. bank holding company of Aa2. Fifth Third operates four main businesses: Retail, Commercial, Investment Advisors and Fifth Third Processing Solutions. Investor information and press releases can be viewed at http://www.53.com/ . Fifth Third's common stock is traded through the NASDAQ National Market System under the symbol "FITB." 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). 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, or , or Investor relations, Tina Moore, +1-678-375-1278, or , both of CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.53.com/

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