CharitEx, Inc. Forms Cashtrex Consulting Division for Corporate Cash Management and Banking

NEW YORK, April 16, 2001 - CharitEx, Inc., a leading provider of cash management and donor relationship management software systems for fundraising organizations, today announced the formation of Cashtrex Consulting. As a division of CharitEx, Cashtrex Consulting will provide outsourced system integration, customized reporting, system implementation and consulting services to corporate cash and treasury management departments, financial institutions, software providers and other professional consulting firms.

"The Cashtrex Consulting team of executives and technical staff have extensive experience implementing cash and treasury management systems for Fortune 1000 and middle market organizations," said Peter Martino, president and CEO of CharitEx. Martino is the former president and CEO of XRT, a leading provider of corporate treasury software systems.

Cashtrex Consulting helps clients benefit from best practice cash management and forecasting approaches. This is accomplished, in part, through tailored software interfaces and processes that integrate data from multiple sources for reporting and analysis. Cashtrex Consulting aids in developing automated Cash Position Worksheets that use actual and forecasted cash flows to project the exact affect on cash position for any part of an organization, in any currencies, and for any date or range of dates.

Cashtrex Consulting also helps organizations improve their bank relationship management. Through customized integration of external data feeds from and to banks, Cashtrex Consulting develops processes, reports and software links to efficiently transfer funds based on target balances in a multi-bank environment. Further, the Cashtrex Consulting team helps organizations improve accuracy in cash forecasting through consolidation of data for all financial inflows and outflows. This includes tracking of future actual investment and borrowing requirements in real time to facilitate the determination of optimal cash management and financing strategies.

The Cashtrex Consulting team includes Certified Cash Managers, treasury and technology experts and financial and legal professionals. For additional information, visit www.cashtrex.com

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