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Valley National Bank Expands the Use of IBSnet

Surecomp announced today that the Valley National Bank, Wayne, New Jersey,
ranked amongst the top 75 banks in the US has, following its merger with
Merchants Bank of New York, signed an agreement to expand the use of IBSnet
to 35 users.

In the November 2002 issue of the US Banker magazine the Valley National
Bank was named as one of the US's top five banks.

Commenting on the agreement James Black, Surecomp Vice President and IBSnet
Product Director said, "We are naturally delighted with the Bank's decision
to strengthen their commitment to Surecomp and Surecomp products".

About IBSnet - IBSnet, which is available on the Windows NT platform
features modular and object oriented architecture coupled with friendly
graphical user interface. IBSnet is a totally configurable application that
incorporates Import, Export & Standby L/Cs, Collections, Payments,
Guarantees, Steamship Indemnities, Air Releases and all means of financing."