Bob Kirk Named Executive Vice President and Chief Operating Officer of VICOR, Inc.

Business Editors

RICHMOND, Calif.--(BUSINESS WIRE)--Sept. 10, 2001

VICOR, Inc., the leading provider of integrated receivables management solutions, at its September 5th Board of Directors meeting, named Bob Kirk as executive vice president and chief operating officer. Kirk, who is currently senior vice president of VICOR's Sales, Marketing, and Account Management Group, assumes this new responsibility reporting to Larry McNabb, VICOR's president and CEO.

Prior to joining VICOR in 1999 Kirk had over 20 years of direct experience in the financial industry, most recently as president of Enterprise Consulting, Inc., Kirk's practice included consulting engagements in both operational and strategic marketing assignments. Prior to that time, Kirk held the position of vice president of Marketing with BancTec Systems, Inc., working in their world headquarters in Dallas. He joined BancTec in 1989 as director of Product Marketing for their Retail and Wholesale Remittance products. Earlier, Kirk had ten-year tenure with Mellon Bank where he held the position of vice president, Operations with responsibility for Mellon's Nationwide Lockbox Operations.

According to McNabb, president and CEO, "Bob has done an excellent job since joining VICOR. His knowledge of the market place we serve and his excellent leadership and management skills make him a valuable member of the VICOR team. In the position of COO, Bob will be able to have more impact on the continued growth of VICOR."

Kirk said, "I have worked with the VICOR team for nearly three years and have come to respect the dedicated and talented staff, understand the superiority of the products and the technology employed, and recognize the value of the deep partnerships we create with each of our clients. I look forward to helping the VICOR team continue on the path to achieve the success for which they are already positioned. Based on the past several years' results and the outlook for 2002, VICOR is on track to have record performance."

About VICOR, Inc.

Founded in 1989 and headquartered in Richmond, VICOR is a product and services company that concentrates on working within the financial services arena to transform their business practices and applications through the use of advanced technologies. VICOR combines knowledgeable business personnel and technical expertise to produce creative solutions that can reduce expenses, accelerate profitable growth, and strengthen client relationships. VICOR has significant expertise in the areas of working capital cycle management and payment technology. VICOR offers a broad suite of advanced receivables management solutions including its RIDS (Receivables Information Delivery System) product, the leading image-enabled Receivables Processing solution in the market. Visit www.vicor.com for more information.

For more information, contact Mary Hofmann at 510/621-2044.