CheckFree Partners with Kedrios and Offers Complete Straight Through Processing Solution to Three Italian Clients

LONDON/ATLANTA (25 February 2004) – CheckFree Financial and Compliance Solutions, a business unit of CheckFree Corporation (Nasdaq: CKFR), today announced three new client wins for Kedrios, a CheckFree business partner and Italy’s leading provider of outsourced middle and back office services. Abax, Duemme, and Pictet are among the latest leading brokerage and investment management houses who have started using Kedrios’ BON service for which TradeFlow TPM, supplied by HelioGraph (now a division of CheckFree) provides straight through processing (STP) functions.

Kedrios, an application service provider and information technology consultancy services provider, complements its product selection by offering TradeFlow TPM functionality to its bank, asset management and broker client base. The cooperation with CheckFree allows Kedrios to provide its customers with a complete end-to-end STP solution, and full connectivity to the SWIFT network. With a high number of clients and solutions supported on the BON service solution, the flexibility of the TradeFlow solution was a major influence in Kedrios’ decision to partner with CheckFree. In addition, customers benefit from the TradeFlow module by avoiding the expense of developing in-house technology – leading to additional cost savings.

CheckFree strengthens its alliance of international business partners, by continuing to expand into the Italian market with Kedrios, a company with extensive specialist local knowledge. "CheckFree’s reputation in the market and international client base were major factors in our decision to partner with the company,” said Giovanni Roversi, chief executive officer at Kedrios. “Since we added TradeFlow functionality to our BON platform, we now provide a complete STP solution that gives our organisation a strong opportunity for international expansion. We’ve seen a significant business value to our customers with the recent addition of Abax, Duemme and Pictet as users of this service."

"Kedrios grows our base of local partners, and CheckFree benefits from their knowledge and coverage of the financial markets in Italy," said Mark Zill, senior vice president and general manager, CFACS. "Together our organisations will offer a unique, valuable service. To date, the response from Kedrios’ clients has been extraordinary, and we expect to see significant growth in this market."

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