CKFR Checkfree Corp (MM)

Leading U.S. ACH Receiving Institution Becomes New PEP+(R) Platinum Customer ATLANTA and SAN DIEGO, May 8 /PRNewswire-FirstCall/ -- Payments 2006, Booth # 610 -- CheckFree Corporation (NASDAQ:CKFR) has been selected by U.S. Central, the only wholesale corporate credit union in the United States, to implement the CheckFree PEP+(R) Platinum solution. The strategic software and services deployment will enable the industry to continue to grow and aggregate Automated Clearing House (ACH) volumes and deliver enhanced services to its corporate user base. With this deployment, eight of the nation's 10 largest ACH receiving institutions will be processing ACH transactions via CheckFree's technology. Recognized as the de facto industry standard, CheckFree PEP+ Platinum delivers an easily integrated, online, real-time ACH system that enables origination and receipt of electronic payments. The system replaces inefficient, manual processes, while automating edits and providing secure online access to the ACH network. CheckFree PEP+ offers superior functionality, increasing efficiency at virtually every step in ACH processing, resulting in greater ability to manage complexity and customer service. Leveraging the CheckFree solution, U.S. Central will improve its competitive capabilities through a true service bureau service offering, allowing its corporate credit union members wider access to features and functionality critical in their marketplaces. U.S. Central will achieve greater operational efficiency of its existing ACH processing, as well as set the stage for growing ACH origination services. U.S. Central will link its existing self-service web access tool to CheckFree's PEP+ software to increase efficiency and leverage the PEP+ software's exceptional capacity for ever-increasing transaction volumes. In addition to providing consultancy for the initial implementation, CheckFree's experienced ACH professional services team will provide the organization with an ongoing outsourced technology support service. Marcie Haitema, executive vice president of correspondent services at U.S. Central, said, "CheckFree is the leader in ACH technology, making it the logical choice when U.S. Central evaluated the options for upgrading our ACH technology. As a high-volume ACH receiver with growing demands on our infrastructure, we needed an adaptable solution that could grow with our business. CheckFree is delivering a scalable, flexible technology and supporting it with a world-class team of ACH professionals." Esther Pigg, vice president of global product management at CheckFree, said, "CheckFree is delighted to welcome U.S. Central as a valued new client. Backed by the value of our experience in processing more than two-thirds of the nation's ACH transactions, we are confident that CheckFree PEP+ Platinum will meet the high-volume needs of this leading ACH receiver. Our technology offers peace of mind to ACH providers, enabling organizations to concentrate on providing a superior services experience for their customers." About U.S. Central ( http://www.uscentral.coop/ ) U.S. Central is the wholesale financial center for the nation's corporate credit unions. Founded in 1974, U.S. Central is owned and directed by its member corporate credit unions, in the tradition of the cooperative credit union spirit. As the "credit union for corporate credit unions," U.S. Central exists solely to assist them in serving the 8,880 credit unions across the country. Currently, U.S. Central's assets total approximately $45.1 billion. U.S. Central provides members with extensive investment, liquidity, and cash-management products and services; risk-management and analytic capabilities; settlement, funds transfer and payment services; and safekeeping and custody services. 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 about $1.3 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 12 billion Automated Clearing House transactions in the United States. The division also provides operational risk management, financial messaging, corporate actions, and regulatory compliance software to more than 1,500 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, 2005 (filed September 2, 2005), Form 10-Q for the quarter ended September 30, 2005 (filed November 8, 2005), and Form 10-Q for the quarter ended December 31, 2005 (filed February 8, 2006). 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: Judy DeRango Wicks, +1-678-375-1595, or , or Investors, Tina Moore, +1-678-375-1278, or , both of CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.uscentral.coop/

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