ACOM Enters Financial Document Printing Market With Purchase of TAGSOFT Inc.

Business Editors

LONG BEACH, Calif./JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Jan. 6, 2000

ACOM Solutions Inc., Long Beach, a leading provider of secure MICR laser payment processing systems, electronic business document printing solutions and e-commerce solutions, has entered the financial document printing market with the purchase of TAGSOFT Inc., Jacksonville, developer and marketer of the MICRPro(R) suite of systems for generating checks, coupons and forms required by the banking and financial communities, it was announced today by ACOM President Patrick McMahon.

Both companies are privately held and details of the stock transaction were not disclosed.

TAGSOFT was formed in 1994 by Anthony A. Tomaino and Mitchell B. Goldstein. The basis of the company's technology is the MICRPro(R) suite of products for the production of MICR quality documents required in retail banking and credit union operations and in on-site check order fulfillment for checking account customers.

The MICRPro(R) product suite includes:

--   The MICRPro(R) Check Printing System, a "teller" system for the
     on-demand production of regularly used, individually prepared
     documents such as cashier's checks and other official checks, new
     account starter checks, loan coupons, tickets and slips.


--   MICRPro(R) Check Run, which is designed for back-office batch
     printing of documents such as accounts payable and payroll
     checks; tax, rebate and club checks; and loan and deposit coupons
     and pre-authorized checks, all printed from information imported
     from a host system.

--   MICRPro(R) Quick Check, a system that allows institutions to fill
     both personal and business check orders in-house at a fraction of
     the cost most currently pay to outside check vendors --
     automatically converting what has traditionally been a service
     expense to a new revenue source.

The company also provides the equipment, maintenance and supplies in a complete turnkey solution for the institutions using the MICRPro(R) systems.

"TAGSOFT offers an attractive alternative for financial institutions that outsource check order fulfillment to companies like Deluxe, Harlan and Clark American," McMahon said.

"With the MICRPro solution, they can fill a customer's check order 'in-house' in a matter of minutes instead of the weeks that it takes for third-party vendors to deliver checks, and at a fraction of the cost. We enable financial institutions to increase profits in a core service function and enhance the level of service they provide to their checking account customers -- a very attractive value proposition."

"We are extremely excited about the possibilities that have opened up to TAGSOFT," Tomaino added. "We have enjoyed steady growth, and by allying with ACOM we are able to employ the financial, technological and marketing power needed to expand geographically and to address much larger accounts.

"Our product line is mature and well accepted, and with the options newly available we can make it even better with new features and enhancements and with stronger service and support. It is an excellent union, in every respect."

About ACOM

ACOM Solutions is an international developer and marketer of advanced business solutions that provide companies with a choice between conventional hard copy processes, pure electronic processes, and solutions that advantageously combine desirable elements of both.

ACOM solutions include platform-independent integrated hardware-software MICR laser payment processing systems; Internet-based electronic data interchange (EDI) for synchronizing documents between multiple trading partners in networked e-commerce applications; and electronic document printing systems for laser printer generation of business and financial forms, checks and labels.

The company's customer base is comprised of more than 2,500 users. ACOM is located at 2850 E. 29th St., Long Beach, Calif., 90806; telephone [phone]; fax [phone]; e-mail [e-mail]; Web: www.acom.com.