Bonaire Delivers REVPORT to GoldK; Firms' Trade of Development Costs for Intellectual Property Reflects New Trend in Software Deals.

Business/Technology Editors

WALTHAM, Mass.--(BUSINESS WIRE)--April 11, 2002

GoldK(TM), a full-service retirement company and leading provider of employer-sponsored online retirement plans, announced that it has successfully implemented a customized version of REVPORT(TM), a revenue-transfer and billing system developed by Bonaire Software Solutions, LLC, a Boston-based services and applications provider for the financial industry.

The comprehensive nature of the fee and revenue-transfer technology offers GoldK significant advantages. REVPORT(TM) is Web-based and designed to permit GoldK to track, calculate, recognize and reconcile receivables due to and from the company and its brokerage unit, GoldK Investment Services, Inc. Amounts subsequently payable to third parties, typically the broker-dealers that sell GoldK retirement plans, are also included. The application features a powerful and highly flexible rules engine that allows GoldK to seamlessly accommodate complex calculations.

In a mutually beneficial arrangement that is gaining popularity with both developers and buyers of software applications, GoldK will receive substantial cost savings of 35-40 percent on the application development in exchange for Bonaire's right to retain proprietary intellectual property (IP) of certain components of the software. In this way, GoldK obtains the required customized application at a greatly reduced cost while Bonaire adds the software to its growing in-house library of specialized components - called the XchangeFRAME(TM) - for the financial services industry. Bonaire will subsequently hold all rights to the software including the ability to license, re-sell, distribute, revise and maintain the application.

"This system will play an important, bottom-line role in the strategic growth of our company," said David Siewers, vice president of finance for GoldK. "We came to the table with a need for a sophisticated application that can produce multiple sets of high-volume transaction and balance-fee computations while generating electronic invoices with an interface to the general ledger. Bonaire was able to customize and integrate the solution to save us significant development time and cost while meeting our strict requirements. Ultimately, GoldK is now in a better position to collect revenue more quickly and structure fees and commissions due to our business partners more efficiently."

Through a combination of financial services domain expertise, an evolved methodology and pre-built software components, Bonaire's business model gives customers like GoldK the advantage of tested and proven software while considerably reducing development time in order to produce significant cost savings. "We're very excited about our growing relationship with GoldK," said Christopher John, CEO of Bonaire Software Solutions. "Just as GoldK represents a highly successful, unconventional approach to the 401(k) business, Bonaire takes a fresh approach to solving some of the more complex financial application requirements that exist in today's business world."

About Bonaire Software Solutions, LLC

Bonaire Software Solutions, LLC provides services, software components and applications to meet the changing needs of today's financial community. Bonaire's business and technology staffs have a comprehensive understanding of the entire trade process from initiation through compliance and have spent years designing and developing front, middle and back-office systems in this domain. The firm brings value to the table at every step of "straight-through" processing and excels at providing Web-based transactional solutions that integrate and perform seamlessly with existing legacy systems. For more information, please visit www.bonairesoft.com.

About GoldK

Available through leading financial advisors, GoldK delivers efficient and affordable retirement-plan services that greatly reduce the administrative burdens on plan sponsors and enhance the ability of participants to interact with their plan. GoldK's progressive technology utilizing XML, the Web programming language, and its experienced staff of retirement-plan professionals combine to give plan sponsors of any size access to some of the most sophisticated plans available today. Features include a multi-manager platform with a wide array of investment choices from many of America's leading mutual fund families, around-the-clock account access over the Internet or telephone, complete electronic plan administration and record keeping, a self-directed brokerage option, full customer support and investor education featuring Retire Today(TM), a daily e-newsletter for retirement investors. For more information, please visit www.goldk.com.