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To: AugustWest who wrote (20064)	5/20/2003 11:36:52 AM
From: StocksMan	Read Replies (1) \| Respond to of 20297

Billserv and CyberStarts Sign Definitive Agreement to Acquire Billserv, Inc. Electronic Bill Presentment and Payment Assets Tuesday May 20, 11:21 am ET ATLANTA and SAN ANTONIO, May 20 /PRNewswire-FirstCall/ -- CyberStarts, Inc., a leading financial services technology holding company and Billserv, Inc. (OTC Bulletin Board: BLLS - News) the leading Electronic Bill Presentment and Payment (EBPP) Outsourced Solution Provider announced today that the companies have executed a definitive agreement by which CyberStarts will acquire certain assets of Billserv, Inc. "Billserv is becoming a part of CyberStarts, but we will keep the Billserv name due to its strong brand recognition in the marketplace," said Ashish Bahl, President and CEO of CyberStarts. "Billserv, when combined with CyberStarts current operations, will be part of a profitable payments management enterprise, whose over 100 associates, serves +1,000 clients, and delivers $20 Million in annual sales." Michael Long, Chairman and CEO of Billserv said "We are very enthusiastic about this transaction and are pleased to know our customers and employees are now aligned with a financially strong and technically qualified company such as CyberStarts." With this important step completed, Billserv, Inc. will now prepare a shareholder proxy to be submitted to the Securities and Exchange Commission for comments. The final step will be a vote to approve the transaction by Billserv shareholders. We anticipate this process to be completed within some 30 to 45 days, thereby concluding the transaction in late June. Upon approval by shareholders, Billserv will change its corporate name and stock symbol. Under the agreement, CyberStarts will pay $4.8 million to purchase certain Billserv assets, including the Australian Joint Venture between Salmat and Billserv. Billserv will continue operations, supporting customers until the close of the transaction, after which, it will focus on building a new market presence to include both multi-channel payments and ISO (credit card payment) operations. Billserv will continue to operate its Bills.com consumer bill payment portal. These operational enhancements and the move to a new business model will ensure that shareholders have an opportunity for value in the future. . . biz.yahoo.com