Cass Information Systems, Inc. Reports 1st Quarter Earnings.

ST. LOUIS -- Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility and telecom invoice payment and information services reported first quarter earnings of $.43 per fully diluted share, a 4% decrease over the $.45 per fully diluted share it earned in the first quarter of 2007. Net income for the period was $4.0 million, compared to $4.2 million in 2007.

2008 1st Quarter Recap

                              <                 <  3/31/08        <
3/31/07

% Change
Transportation Dollar Volume  <                 <  $3.9 billion   <
$3.4 billion

13%
Utility Dollar Volume         <                 <  $2.2 billion   <
$1.8 billion

26%
Revenues                      <                 <  $21.9 million  <
$21.6 million

1%
Net Income                    <                 <  $4.0 million   <
$4.2 million

(4)%
Diluted Earnings per Share    <                 <  $.43           <
$.45

(4)%
                              <                 <                 <

Payment and processing fees increased 7% or $798 million compared to the year-earlier period. Utility transaction volume was up 13% and utility dollar volume rose 26% due to new business and heightened activity from existing customers.

Net investment income decreased $447,000 or 5% due to the overall decline in interest rates.

Operating expenses were up 7%, or $1,027,000, as a result of higher employee costs related to transaction growth. Income tax expense decreased due to the growth of the company's state and municipal bond portfolios.

"The lower interest rate environment hampered earnings for the first quarter. However, all of our vital signs remain strong and processing activity should continue to grow in all of our units," said Lawrence A. Collett, Cass chief executive officer and chairman of the board. "Despite the slight decrease in this quarter's earnings due to the precipitous drop in interest rates, we continue to remain optimistic about the company's performance for the remainder of the year."

Cass currently holds no sub-prime mortgage loans nor has any securities in its investment portfolio that contain any exposure to such instruments. The company holds no mortgage-backed securities or residential development loans of any kind. Hence, the issues that are having a significant detrimental effect on the financial community should not affect Cass in such a manner.

About Cass Information Systems

Cass Information Systems is the leading provider of transportation, utility and telecom invoice payment and information services. The company, which has been involved in the payables services and information support business since 1956, disburses over $22 billion annually on behalf of customers from processing centers in St. Louis, Mo., Columbus, Ohio, Boston, Mass., Greenville, S.C. and Wellington, Kansas. The support of Cass Commercial Bank, founded in 1906, makes Cass Information Systems unique in the industry. Cass is part of the Russell 2000[R] Index.

Note to Investors

Certain matters set forth in this news release may contain forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. For a discussion of certain factors that may cause such forward-looking statements to differ materially from the company's actual results, see the company's reports filed from time to time with the Securities and Exchange Commission including the company's annual report on Form 10-K for the year ended December 31, 2007.

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