FundsXpress Announces Board of Directors.

AUSTIN, Texas--(BUSINESS WIRE)--Dec. 15, 1998--FundsXpress Inc., an Austin, Texas-based Internet banking services company, today announced that the following people have been appointed as new directors of the company, effective Dec. 1, 1998:

   -- Andy Littlejohn, City National Bank of Taylor, Taylor, Texas;
   -- Lloyd DeVaux, Union Planters Bank, Cordova, Tenn.;
   -- Jerry Keys, Corporate Attorney, Austin, Texas;
   -- Chris Williston, Independent Bankers Association of Texas,
Austin, Texas.

The company also appointed Glenda Eades, secretary, Austin, Texas, and Song Kim, treasurer, Austin, Texas.

"As we continue to grow and expand, these directors will provide FundsXpress with the banking and management experience that is crucial to our future success," said John A. Burns, Chairman & CEO of FundsXpress. "When you combine these directors with our management team, you've got a first-class organization that is ready to meet the challenges of providing secure and reliable Internet financial network services throughout the world."

FundsXpress Inc., through the FundsXpress Financial Network, currently provides secure and reliable Internet banking products to more than 135 financial institutions nationwide who collectively serve approximately 6 million customers. The FundsXpress Financial Network provides these Internet banking services 24 hours a day, 7 days a week. FundsXpress Financial Network has endorsements from various state banking associations and is the nation's largest provider of Internet banking services for community banks.

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   John Burns
   President & CEO
   FundsXpress

Burns has over 20 years management experience in various high technology, financial services, and real estate companies. Prior to FundsXpress, Burns founded two other technology companies which won contracts with the state of Texas, large corporations, and other major forces in the computer industry such as the Digital Equipment Corp., Xerox Corp., Ford Motor Co., General Motors, IBM, Motorola, Dell and 3M.

Burns was also a partner in the Sendero REO Group, a financing and high technology consulting firm based in Austin, Texas, from 1986 to 1988, where he advised clients on venture financing, strategic planning, budgeting and operations plans. As co-founder and president of Balcones Computer Co., John purchased the source code and distribution rights for, what later became, Microsoft Basic from Bill Gates and Paul Allen. Burns is very active in community affairs, especially with schools and students. As a volunteer in the Austin Independent School District's nationally acclaimed Adopt-a-School program, he established a formal internship program at the company. His work resulted in his being named Volunteer of the Year, the program's highest honor, in 1996.

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   Lloyd DeVaux
   Executive Vice President & CIO
   Union Planters Bank

DeVaux is currently EVP of Technology & Operations at Union Planters Bank, which is a $33 billion holding company with 48 community banks and 801 branches in 12 states. His responsibilities are overseeing the backroom of UPB, which include, Information Services, Cash Management, Alternative Delivery, Check Processing, Deposit Services and Retail Support. DeVaux has been with Union Planters since 1994. Prior to joining Union Planters, he spent eight years in the finance industry. In those eight years he worked as a Finance Industry Specialist with IBM, and as the Executive Director of Operations for Kirchman Corp., the vendors who furnish the core system for Union Planters.

DeVaux has an Associate Degree in Math/Science, a Bachelor of Science Degree in Electrical Engineering, and a Masters in Business Administration. He also is a member of nine different organizations including United Way, Planters Life and BAI.

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   Andrew D. Littlejohn
   President
   City National Bank of Taylor

Littlejohn has been president of CNB since 1983. He handles the investments for the bank, oversees the daily operation. He is a Director, Taylor Economic Development Corp., President, Taylor Kiwanis Club, Independent Bankers Association of Texas, Director, IBAT Services Corp. Inc., and Chairman, East Williamson County Boy Scout Steering Committee. He graduated from Vanderbilt University Bachelor of Arts Degree, Southern Methodist University M.B.A. and Stonier Graduate School of Banking, at Rutgers University.

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   Christopher L. Williston, CAE
   President and CEO
   Independent Bankers Association of Texas

Williston has served the 700 member Independent Bankers Association of Texas as its President since April 1, 1989, after having served Alex Sheshunoff & Co. from 1987 to 1989 as Vice President-Affiliation. Williston administered the Sheshunoff High Performance Affiliation Program, a resource/idea sharing network consisting of over 800 chief executive officers from 48 states. Prior to that time, Williston served the Texas Bankers Association from 1975-1987, leaving TBA as Senior Vice President and Chief Operating Officer. During his tenure there, Chris pioneered many profit activities of the association including some 100 workshops and seminars, five divisional conferences and two banking schools and all non-dues related activities.

He has co-authored numerous handbooks and publications of the Texas banking industry and currently writes a monthly column entitled, "Up Front" for The Texas Independent Banker magazine. Williston is active in numerous civic and service activities for the association management profession. In 1978, he achieved the designation of CAE (Certified Association Executive) becoming the youngest executive in the nation to receive such designation by the American Society of Association Executives. Today, he is a course instructor to other association managers seeking similar designation.

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   Jerry M. Keys
   Attorney; Locke, Purnell, Rain, Harrell
   FundsXpress

Keys represents a variety of clients in the computer, telecommunications, semiconductor, electrical power and related electro-technology industries. He has substantial experience in Intellectual property law, including patent, trademark, copyright, trade secret and related unfair competition matters; computer and telecommunications law, including mergers and acquisitions; purchase/lease of computer and telecommunication systems; software and multimedia development consulting and licensing; VAR/distributor/dealer marketing agreements; outsourcing agreements; R&D, manufacturing and marketing joint ventures; government contracting; export controls, equipment certifications, and other regulatory matters. He is a graduate of the University of Texas in Austin with a J.D., with honors; a B.S. in Electrical Engineering, with honors, from The University of Texas at Austin, 1970.

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   Song Kim
   Chief Financial Officer and Treasurer
   FundsXpress

Before joining FundsXpress, Song was Vice President and Treasurer of Power Computing Corp. of Round Rock, Texas, the first licensee and manufacturer of MacOS/Power PC based systems sold through the direct marketing model. Before being acquired by Apple Computer, it was one of the fastest-growing computer companies in history. He has served in a variety of senior level financial positions with the following companies over the past twenty years: Ambex Venture Group, LLC / Ambex Technologies Inc., Sunnyvale, Calif.; Diamond Multimedia Systems Inc., San Jose, Calif.; Landmark Communications Inc; Beverly Enterprises; Minnetonka Inc., Chaska, Minn.; Deloitte & Touche., Minneapolis; F-Stop Camera & Supply Inc., Iowa City, Iowa.

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   Glenda Eades
   Assistant to Chairman/CEO and Corporate Secretary
   FundsXpress

Eades first worked with Burns from 1979 to 1985 at Balcones Computer Corp. where she was a Corporate Vice President. She rejoined him in January 1994 and is currently the Assistant to the Chairman of the Board where she assists Burns in administration, operations, strategic planning and personnel matters. In addition, she serves as Secretary to the Board of Directors. After leaving Balcones in 1985 and prior to joining FundsXpress, Eades was Management Information Systems and Training Coordinator for the Austin/Travis County Private Industry Council and R & D Administrative Coordinator for Dell Computer Corp. Eades received her BA from the University of Texas at Austin.