Creditron Inc. Announces Breakthrough Growth, Performance and Customer Acceptance for its Payments Processing Solutions

MISSISSAUGA, Ontario, Canada, November 28, 2005 – Creditron Inc., a leading provider of payments processing solutions and services, today announced that it has achieved record annual revenues, won 30 new customers, grown its staff, and expanded its product portfolio to position the company for growth as users migrate to electronic check clearing. Creditron’s exceptional user acceptance and demonstrably superior capabilities in payments processing come on top of its continued market-share leadership in the low and mid-volume segments.

This year, Creditron achieved the highest annual revenues in the privately held company’s 11-year history, surpassing its total revenues for 2004 by over 30 percent. Underscoring this growth, Creditron has won an additional 30 customers – representing 40 sites – increasing its total to 165 North American customers with a combined annual volume of more than 200 million transactions. Among Creditron’s sales in 2005 was the largest contract in company history, a $1.4 million agreement to provide software, hardware and services for Canada Revenue Agency’s tax processing centers. In line with its revenue growth, Creditron added four employees this year, spread across its sales, development and customer support groups.

Creditron accomplished all of this without debt or outside investment. It expects to build on its success next year to boost revenues another 10 percent and grow its staff by at least three.

“Our growth and sustained market-segment leadership is critical proof that we’re delivering on our promises and providing customers with a winning combination of lower total cost of ownership, scalable performance, and room for expansion,” stated Creditron Inc. President Wally Vogel. “Creditron’s flexible system approach with RP$ delivers a far simpler and more cost-effective solution than anything our competitors are providing. With system enhancements and a larger sales force, we expect consistent revenue growth in the future.”

During 2005, Creditron broadened its user base and product portfolio. Highlights include:

Delivery of a remittance system to Kohl’s Corp., an S&P Fortune 500 company that operates 732 department stores in 41 states. Kohl’s is using Creditron’s RP$ Micro Solution in its Milwaukee, WI offices with the NCR 7728 scanner to process check-only transactions from its bank lockbox provider. Check images are keyed on six workstations. Kohl’s plans to use the RP$ solution for remote deposit capture.

Completion of a major system upgrade at Irving, TX-based H.D. Vest, a non-bank subsidiary of Wells Fargo & Company that supports an independent network of tax and non-tax professionals who distribute comprehensive financial planning solutions. A Creditron user since 1998, H.D. Vest added another business line onto its RP$ Desktop Solution, and upgraded to Microsoft Windows XP and SQL Server. H.D. Vest uses two NCR 7731 check scanners in one location to process its remittances.

Installation of an image-based remittance system at the City of Jacksonville Beach, located east of Jacksonville, FL. A SunGard HTE user, the city processes electrical services, tax, and water payments with the NCR iTRAN 180 transport and Creditron’s RP$ Transport Solution, RightPass software, and courtesy and legal amount recognition component.

Continuing to innovate on industry standards, Creditron announced a remote deposit solution that allows corporate and commercial customers to deposit their checks electronically using image transmission. Enabled by the Check Clearing for the 21st Century Act (also referred to as Check 21), the software delivers an ANSI standard file to any bank that is ready for Check 21; consolidates multiple deposit accounts and sites; provides an image storage and retrieval module that can be accessed site-wide; and automatically uploads daily receivables into any A/R program. Creditron’s new remote deposit product complements its existing in-line check truncation solution, which uses logic to select the most efficient method of check electronification.

Successful rollout of multi-bank fine sort capabilities to nine users. First introduced in 2004, Creditron’s multi-bank deposit module automatically sorts checks after they are processed, and inserts prepared deposit tickets for each depository institution.

More information on Creditron and its product portfolio is available at www.creditron.com.

About Creditron Inc.
Founded in 1994, Creditron Inc. is a leading provider of payment processing software and services. Its solutions combine industry standard operating systems and advanced imaging, scanning and data recognition technology to help low and mid-volume remittance volumes optimize operations performance and improve customer service. The company’s 165 North American customers process more than 200 million transactions annually, representing over $50 billion. Creditron is a Microsoft Certified Partner, a Microsoft Great Plains Solution Partner, an HTE alliance partner, and an authorized reseller for NCR payments systems in the U.S. and Canada. For more information, call 800-704-8777 or visit www.creditron.com.