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

To: jjs_ynot who wrote (5249)	6/22/1998 11:15:00 AM
From: Benny Baga	Read Replies (1) \| Respond to of 8545

CheckFree Reaches 500,000 Portfolios on APL/APL WRAP Industry milestone for leading portfolio management system ATLANTA (June 22, 1998) -- CheckFree (NASDAQ: CKFR) announced today that it has reached 500,000 portfolios on its portfolio management system. These portfolios total more than $350 billion in assets. CheckFree APL/APL WRAP is the leading portfolio accounting, performance measurement, and trading and reporting system in the industry. Recent client signings and contract extensions for APL/APL WRAP include EVEREN Securities (Chicago) and Rittenhouse Financial Services (Radnor, Pa.). "What is remarkable about this milestone is how quickly we got there," said Frank Polashock, general manager for CheckFree Investment Services. "In three years, we have more than doubled the number of portfolios in the APL system through the addition of new clients and the growth of our existing client base. "What makes this even more gratifying is that it represents a solid team effort among our associates and our clients," Polashock added. "It is important that we use this milestone as an opportunity to both re-enforce and expand on the level of service that we provide to our customers." Jamie K. Waller, head of business development and sales for CheckFree Investment Services, said, "Reaching 500,000 portfolios on our system was a meaningful benchmark that we had set for ourselves. We have witnessed substantial growth across both the APL and APL WRAP product lines. In reaching this milestone, thanks goes out to our new and existing clients, our sales force, and our account management team." About CheckFree Founded in 1981, CheckFree Corporation (www.checkfree.com) is the leading provider of electronic commerce services, software and related products for 2.25 million consumers, 1,000 businesses and 850 financial institutions. CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet. CheckFree Investment Services currently offers APL and APL WRAP, which includes portfolio accounting, performance measurement, trading and reporting systems to financial institutions. APL and APL WRAP are currently used by more than 225 institutions managing 500,000 portfolios.