AFLAC Streamlines Compliance Reporting with CheckFree's Abandoned Property System.

Business Editors

ATLANTA--(BUSINESS WIRE)--July 16, 2001

Twelve-year relationship continues, adding CheckFree APECS Multi-Tier

software solution to products and services for AFLAC 

CheckFree Corporation (NASDAQ: CKFR) today announced that American Family Life Assurance Company of Columbus (AFLAC), a leading writer of supplemental insurance marketed at the worksite, will use CheckFree APECS(TM) to automate abandoned property management and reporting.

A CheckFree client of 12 years, AFLAC is further streamlining its operations using CheckFree solutions to fully comply with state-by-state reporting of unclaimed property in all 50 states plus the District of Columbia, Guam, Puerto Rico and the Virgin Islands.

CheckFree's solutions were a natural choice when AFLAC upgraded its abandoned property system to automate its compliance with various regulations across the United States and its territories. Because of its flexibility and user-friendly interface, AFLAC can easily regenerate state and corporate management reports at any time with the APECS system. Additionally, the company can now receive automatic system updates of regulatory changes and processes versus the time-consuming manual effort its uses today.

"Now, more than ever, our clients and prospects are experiencing increased demands to improve the efficiencies of abandoned property reporting," said Mark Zill, senior vice president & general manager of CheckFree Financial and Compliance Solutions. "As a leading provider of supplemental insurance products and services, AFLAC deploys products that will help maintain leadership, especially in today's changing marketplace. AFLAC is already a user of CheckFree products to comply with ever changing government regulations. The new APECS system has the potential to help AFLAC better manage compliance reporting for abandoned property for many years to come."

APECS is constructed on a three-tier foundation and incorporates system features such as online help, pull down menus, and drag and drop functionality - as well as easy to use import/export tools and powerful report writer capabilities. Since 1989, AFLAC has also used CheckFree IRS - the Information Reporting System, to automate additional compliance reporting requirements including 1099s and non-payroll W-2 Forms.

About CheckFree APECS

CheckFree APECS automates the management and reporting of unclaimed property to the U.S. States and territories through a highly graphical, real-time Windows interface constructed on a multi-tiered foundation. The APECS system incorporates such familiar system features as online help, pull down menus and drag and drop functionality, as well as easy to use import and export tools and powerful report writer capabilities. In addition, the system works with other CheckFree solutions including CheckFree RECON-Plus for Windows. The CheckFree solution enables corporations to comply with different requirements for each state and territory.

About AFLAC

AFLAC Incorporated is an international holding company. A Fortune 500 company, AFLAC insures more than 40 million people worldwide. It is the leading writer of supplemental insurance marketed at the worksite, offering policies to employees at more than 182,000 payroll accounts in the United States. AFLAC is the largest foreign insurer in Japan, insuring one out of four Japanese households. In January 2001, AFLAC was included in Fortune magazine's list of "The 100 Best Companies to Work for in America" for the third consecutive year. In February 2001, Fortune magazine also named AFLAC as the fifth most admired company in the life and health insurance sector in its annual listing of "America's Most Admired Companies." Additionally, AFLAC is a component of the Standard & Poor's 500 Index and has received an "A+ (Superior)" rating from A.M. Best. AFLAC's Internet address is www.aflac.com.

About CheckFree

CheckFree (Nasdaq: CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 20th year in e-commerce, CheckFree launched the first fully integrated electronic billing and payment solution in 1997. As of March 31, 2001, CheckFree enabled 4.8 million consumers to receive and pay bills electronically. The company has multi-year contracts with 245 of the nation's top billers to provide online billing and payment through nearly 300 financial services organizations, including banks, brokerage firms, Internet portals and content sites and personal financial management (PFM) software. CheckFree Software Services division provides solutions that are used to process more than two-thirds of the nation's six billion Automated Clearing House payments, and reconciliation and compliance products and services to 400 banks and businesses. This division includes CheckFree i-Solutions, the leading provider of interactive e-billing and e-statement software and services that enable companies to transform bills and statements into interactive conduits for customer relationship management, marketing and customer self service. CheckFree Investment Services provides a broad range of investment management services to thousands of financial institutions nationwide. The division's clients manage more than 1,000,000 portfolios totaling more than $500 billion in assets. For more information visit www.checkfree.com.

Certain of the Company's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in the Company's business, and other risks and uncertainties detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended June 30, 2000 (filed September 26, 2000), Form 10-Q for the quarter ended September 30, 2000 (filed November 14, 2000), and Form 10-Q for the quarter ended December 31, 2000 (filed February 13, 2001); and Form 10-Q for the quarter ended March 31, 2001(filed May 11, 2001). One or more of these factors have affected, and could in the future affect, the Company's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this document will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements.