CheckClear's Endpoint Exchange Network Partners with the National Clearing House to Print Image Replacement Documents --IRDs-- for Non-Image-Exchangeable Items.

OKLAHOMA CITY -- NCHA's Nationwide Network Of IRD Print Centers Will Enable Endpoint Exchange Network Member Institutions To Present All Items On The Same Day, nationwide

CheckClear LLC, and the National Clearing House (NCHA) announced today that the Endpoint Exchange Network will accept 100 percent of all transit items for national forward and return collection utilizing electronic delivery and a network of National Clearing House sponsored and approved print facilities for IRD (Image Replacement Document) printing.

An IRD printed as a substitute check in accordance with the requirements set forth by the Check 21 Act will be the legal equivalent of an original paper check when the Check 21 Act goes into effect this October 28th, giving a substitute check the same legal standing as the original paper check. Substitute checks may be printed at any point during the routing process. The printed substitute check contains an image of both sides of the original check and must be printed with MICR ink. Prior to the act, financial institutions were faced with various issues that forced them to transport physical documents to payor banks in most situations.

The Endpoint Exchange Network will assist in determining which check images the presenting financial institution wishes to convert to substitute checks and forward them as images and data to an NCHA sponsored and approved print facility. Whether it is a request to print an outgoing cash letter for day 1 (Forward Collection) or day 2 (Outgoing Returns), the Endpoint Exchange Network will route the request to the NCHA approved print facility closest to the paying institution for forward collections or the depository or another collecting institution for return items.

"Endpoint Exchange Network member institutions will now have the ability to exchange 100% of their transit and return check volume digitally in a secure environment, saving processing time and collection costs," said Mark Craig, General Manager of CheckClear L.L.C. "The geographical boundaries and limitations associated with the movement of paper disappear on October 28."

"The National Clearing House and the Endpoint Exchange Network provide an established clearing network for electronic delivery of the image or paper delivery utilizing print sites across the country to print substitute checks and accelerate check-clearing process to as quickly as the same day," said Fred Redeker, President of the National Clearing House. "The process will eliminate the need to physically courier original paper checks. Our national network of print sites will allow the Endpoint Exchange Network to deliver transit checks sooner, reducing presentment costs and maximizing cash flow."

The Endpoint Exchange Network and the National Clearing House (NCHA) will make it possible for financial institutions across the country to trade check images with other institutions, nationwide.

The Endpoint Exchange Network provides full interoperability between financial institutions utilizing standard exchange formats for the sending and receipt of electronic items and continues to capitalize on its "first-mover" advantage in the check image exchange space. By the end of 2004 the Endpoint Exchange Network expects to have over 5,000 financial institution members.

About CheckClear's Endpoint Exchange Network

Use of CheckClear LLC's Endpoint Exchange Network, enables U.S. financial institutions to clear their check-based transactions by allowing for the exchange of check images between member institutions. The Endpoint Exchange Network is the country's first and only electronic check clearing network that capitalizes on existing imaging infrastructure and settlement relationships, with the interoperability to connect to every endpoint in the nation. Learn more about the Endpoint Exchange Network at http://www.endpointexchange.com/.

About The National Clearing House

The National Clearing House is a national association of member financial institutions, clearing and settling more checks than any other clearing house in the country. In addition to serving its own expansive membership, NCHA provides settlement and other services to fourteen Associate Clearing Houses across the country, and is the National Settlement Agent for the Endpoint Exchange Network. Check related payments handled by the NCHA exceed 6.5 billion items and 4.8 trillion dollars on an annual basis. NCHA Services are rapidly expanding to meet the settlement needs of the evolving check image exchange environment. Through relationships with prominent service providers, NCHA is committed to the industry goals of image exchange with national interoperability between exchange service providers.