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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: g_m10 who wrote (3185)	4/6/1998 10:26:00 AM
From: AugustWest	Respond to of 8545

Monday April 6, 9:30 am Eastern Time Company Press Release SOURCE: CheckFree Corporation CheckFree Signs 2-Year Extension with The Northern Trust Bank To Provide Performance Reporting for In-house Trust Accounting System ATLANTA, April 6 /PRNewswire/ -- CheckFree (Nasdaq: CKFR - news) announced today that it has signed a 2-year contract extension to continue to provide ''PMTrust'' performance reporting services to The Northern Trust Bank. Through the agreement, CheckFree Investment Services will provide the bank's portfolio management groups with performance reporting services that support Northern's in-house trust accounting system. Currently the Performance Group, a part of the Investment Administration Division at Northern, uses CheckFree's customized PMTrust service to provide its managers with both monthly and quarterly performance reports on approximately 20,000 equity and balanced accounts. According to John Humm, vice president of CheckFree Investment Services, ''Our service relationship with The Northern Trust has always been contrary to vendor trends in the trust accounting industry. We don't perceive this to be an ancillary market. With PMTrust, we allow Northern the ability to augment their existing trust accounting system and provide their managers with the valuable performance data they need to make informed decisions. We clearly see this as the trend in the industry.'' Jacqueline Reyes, an investment officer for the Performance Group at Northern said, ''PMTrust provides us with a customizable performance reporting solution, that when used in conjunction with our existing trust system, gives us the added flexibility that we need.'' About The Northern Trust The Northern Trust is a multi-bank holding company headquartered in Chicago with subsidiaries in eight states and international offices in five countries. The Northern Trust has earned distinction as a leading provider of personal fiduciary, asset management, personal and private banking services. About CheckFree CheckFree Investment Services currently offers APL, APL WRAP and PMTrust services, to more than 215 institutions managing over 400,000 portfolios. These portfolios total more than $250 billion in assets. Founded in 1981, CheckFree Corporation (www.checkfree.com) is a wholly owned subsidiary of CheckFree Holdings Corporation and is the leading provider of electronic commerce services, software and related products for more than 2.2 million consumers, 1,000 businesses and 850 financial institutions. CheckFree designs, develops and markets services that enable its members to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet. SOURCE: CheckFree Corporation