EastNets Service Bureau Offers CheckFree Reconciliation Solution as Part of Managed Services Platform

Dubai, United Arab Emirates – 25 November 2007

EastNets, a leading payment and security solutions provider for the government and financial services industries, recently announced that it has signed an agreement with CheckFree, a global financial and electronic commerce solutions provider, to make CheckFree’s reconciliation and exception management solution, Accurate NXGTM, available as a service through EastNets Service Bureau™ (ENSB).

EastNets Service Bureau is an outsourcing and managed services platform that offers financial institutions the ability to access automated matching technology on a cost-effective subscription basis within a secure environment. Adding CheckFree’s reconciliation and exception management solution will bring powerful new capabilities to the portfolio of services already offered by EastNets, and reflect the Dubai-based company’s drive for additional market share.

Adding CheckFree’s Accurate NXG to the service portfolio provides financial institutions the power and scalability of a market-leading reconciliation, exception identification and reporting solution. The service expects to offer low start up costs, with access to real time reporting, high scalability, fast implementation and fewer operational losses. This new service targets start-ups with small to no capital, but allows financial institutions of all sizes to manage transaction demands more quickly and efficiently.

“This collaboration enables us to have much greater international market penetration, as we will appeal to major institutions with this market-leading reconciliation solution. This continues our focused International strategy of working with complementary companies to widen the offerings available to our customers,” said Hazem Mulhim, Chief Executive Officer of EastNets Group.

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