Bank of Thayer Chooses Mitek's CheckQuest, Check Imaging System.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Sept. 11, 2001

Mitek Systems Inc. (Nasdaq:MITK), a developer of automated document recognition technology, today announced that Bank of Thayer, of Thayer, Mo., purchased its CheckQuest(R), check imaging system.

According to Dennis Redmon, president of Bank of Thayer, the bank plans to use CheckQuest to automate the bank's check and item processing operations. With CheckQuest, Bank of Thayer plans to automatically balance the debits and credits of transactions, reduce operator involvement and related expenses in the information capture process and increase the bank's operational efficiency.

"We evaluated a lot of other vendors, and Mitek's CheckQuest solution offers us the advantage of fully integrated courtesy and legal amount recognition (CAR/LAR) technology, which we believe will provide us with tremendous operational efficiencies now and in the future. Another advantage of Mitek's solution is the integrated COLD (Computer Output to Laser Disk) and document imaging capabilities of CheckQuest Enterprise(TM), which we expect to be a long-term, strategic solution for the bank," said Redmon.

"The bank opened two new branches and experienced significant growth over the last four years. We expect the CheckQuest solution to allow us to continue growing without the need to hire additional personnel to handle the increased volume of checks and items to be processed," added Redmon.

"Bank of Thayer is very focused on meeting the needs of our customers. With CheckQuest, we anticipate an increase in the services we are able to offer our customers in addition to back office productivity gains," said Redmon.

About CheckQuest

CheckQuest provides community banks and other institutions with an affordable, high-performance, check imaging solution. CheckQuest's unique, patent pending process that combines check reading, forms processing and document identification capabilities is built into the system and designed to improve the balancing efficiency and overall workflow of community banks.

The CheckQuest system can process any number of bank documents without the aid of a Magnetic Ink Character Recognition (MICR) line or forms redesign that is often required with other traditional proof of deposit systems.

About Bank of Thayer

Bank of Thayer is a full-service bank with three branches located in Thayer, West Plains and Alton. The bank has approximately $68 million in assets and has been serving these southern Missouri communities since 1900.

For more information about Bank of Thayer, visit www.bankofthayer.com.

About Mitek Systems

Mitek Systems Inc. is a worldwide provider of intelligent character recognition technology, products and services for the document and check imaging markets.

Mitek's document imaging software engine and intelligent character recognition products and services are used in mission-critical and high volume data entry, data capture, and forms processing applications installed in many of the world's leading financial institutions, manufacturing and service companies, and government organizations.

For more information about Mitek Systems, contact the company at 10070 Carroll Canyon Road, San Diego, CA 92131; 858/635-5900 or visit Mitek's Web site at www.miteksys.com.

Forward-Looking Statement Disclosure

With the exception of historical matters, the matters discussed in this news release are forward-looking statements that involve risks and uncertainty. Forward-looking statements include, but are not limited to, statements relating to the development and pace of sales of the Company's products, expected trends and growth in the Company's results of operations, projections concerning the Company's available cash flow and liquidity, anticipated penetration in new and existing markets for the Company's products and the size of such markets, anticipated acceptance of the Company's products by existing and new customers, the ability of the Company to sustain any growth in sales and revenue and the increase in sales representatives and other personnel. The Company's actual results could differ in such forward-looking statements. There can be no assurance that the Company will achieve the results set forth herein. Mitek, Mitek Systems and CheckQuest are registered trademarks of Mitek Systems, Inc. All other product or company names may be trademarks or registered trademarks of their respective holders.