AT&T Licenses Edify Electronic Banking System For Atlanta Internet Bank; First Edify Electronic Banking System Now in Production.

SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 15, 1996--Edify Corporation (NASDAQ: EDFY), a leading provider of self service software, today announced that it has signed a product licensing agreement with AT&T.

Under the terms of the agreement, AT&T will use the Edify Electronic Banking System (EBS) application as the electronic banking platform for the Atlanta Internet Bank, a new Internet-based banking service provided by Carolina First Bank, headquartered in Greenville, South Carolina. The Advanced Network Solutions division of AT&T selected and implemented EBS in their role as the system and technology integrator for Atlanta Internet Bank. With Atlanta Internet Bank now open for business over the World Wide Web, they become the first installation of Edify's Electronic Banking System in full production.

Under the new business model adopted by the founders of the Atlanta Internet Bank, it will operate entirely without branches and will instead use the World Wide Web as the primary service delivery channel. The Electronic Banking System will be used by AT&T to provide Atlanta Internet Bank's banking services, which initially include interest-bearing checking accounts, direct deposit, electronic bill payment, account transfer capability and ATM cards. Atlanta Internet Bank has plans to expand their banking services in the near future to include such banking services as loan products, brokerage services, IRA accounts and credit and debit cards. As part of their marketing strategy, Atlanta Internet Bank will be featured on AT&T WorldNet service(SM), and is making extensive use of the service's banner advertising on both the AT&T WorldNet Service "At Home" and "At Work" pages.

"AT&T Advanced Network Solutions was looking for a financial services platform that could meet the stringent quality and reliability standards for setting up a bank completely online," said William A. Soward, director of financial services marketing, Edify Corporation. "We feel that AT&T's selection of Edify and EBS for this project further validates our mission of delivering the level of technology necessary for successful online banking services."

"Both AT&T and Edify understands that banks need to devote their time and resources to banking, not writing software or building infrastructure," said Jeffrey Feldman, AT&T Advanced Network Solutions vice president. "When facing the challenge of transacting business on the Internet, banks are looking for established communication and systems experts like AT&T and Edify to make it happen. Our decision to work with Edify on this project was based on the track record Edify has already earned in the financial services industry as well as the flexibility and strength of their technology."

Atlanta Internet Bank: www.atlantabank.com

By operating entirely without branches, Atlanta Internet Bank will have significantly lower operating costs than conventional banks. Atlanta Internet Bank plans to pass these savings on to their customers by offering more competitive rates. For example, as part of its grand opening, Atlanta Internet Bank is marketing (for a limited time) a 7% interest rate (annual percentage yield 6.18%) on NetVantage money market accounts for AT&T WorldNet subscribers.

To simplify customer access, Atlanta Internet Bank is distributing customized AT&T WorldNet Service software to existing and potential customers through the AT&T WorldNet BusinessReach Service. Those who subscribe will log directly onto a special version of the AT&T WorldNet Service homepage, featuring a point-and-click icon that will enable them to hyperlink to Atlanta Internet Bank's website.

Atlanta Internet Bank is an Internet-based banking service provided through Carolina First Bank, Greenville, SC, a wholly owned subsidiary of Carolina First Corporation. Customers can reach the bank at: 1-888-BKONWEB (256-6932).

Edify's Electronic Banking System

Edify EBS is a software application product that offers financial institutions the means to deploy a suite of automated banking services via the World Wide Web. EBS is the first product to combine Web banking services with optional electronic banking capabilities supporting self-service via the telephones, fax and personal financial management software. It addresses several emerging electronic banking trends: customer demand for anytime, anywhere service, product time-to-market imperatives and increasingly complex back-office integration challenges. EBS represents a new breed of self service software, enabling financial institutions to enhance the level of service they provide to customers and prospects.

EBS allows financial institutions to deploy innovative, interactive Web banking services for their retail customers. EBS combines supports for full bank branding with an open systems approach, ensuring that banks maintain a direct relationship with their customers while also controlling the payment process. This is accomplished through a user interface framework that includes a toolset to allow banks to incorporate their unique brands, logos and product names into the application. This framework technology is especially appropriate to outsourcing companies since each bank using EBS can offer a uniquely branded user interface.

About Edify Corporation

Edify Corporation develops, markets and supports self service software that enable organizations to provide automated services accessed by customers, employees and business partners through the Internet, private Intranets, Web browsers, telephone and electronic mail. The company's software addresses the growing need for organizations to provide more and better service while containing costs, capitalize on emerging interactive media and leverage investments in enterprise systems and communications infrastructure. Over the past four years, Edify has licensed its software to over 450 customers for Web and telephone self service applications such as bank account inquiries, employee benefit enrollments, inventory status and automatic shipment notifications. In May 1996, Edify introduced its first application product, the Edify Electronic Banking System (EBS), targeting the emerging market for software applications that support anytime, anywhere electronic banking services.

The company distributes its products directly and through leading solutions providers, application partners and distributors worldwide. With over 250 employees, Edify Corporation is headquartered in Santa Clara, California, telephone [phone]. Additional information about Edify may be obtained via the World Wide Web at http://www.edify.com. -0-

Note to Editors: Edify and Electronic Workforce are registered trademarks of Edify Corporation. All other company and product names may be trademarks of their respective owners.

CONTACT: Edify Corporation

Brenda Hansen, 408/982-4114

or

AT&T

Karen Way, 908/221-6632