KUBRA Joins Spectrum As BSP Partner; Expanding Spectrum Network Adds 26 Billers, 49 Companies Through Alliance.

Business & High-Tech Editors

TORRANCE, Calif. & ATLANTA--(BUSINESS WIRE)--Dec. 13, 2001

KUBRA, the leader in customer communication and relationship management outsource solutions, and Spectrum EBP, a bank-centric payment systems company, announced today a strategic alliance to certify KUBRA as a biller service provider (BSP) offering outsource services to billers and financial institutions through Spectrum's electronic bill presentment and payment (EBPP) network. With this alliance, KUBRA will distribute bills and collect payments for its billers through the Spectrum network of consumer service providers (CSPs) and participant financial institutions.

KUBRA brings 26 biller relationships representing 49 companies to the Spectrum network for bill distribution and payment. This agreement will also allow KUBRA the opportunity to establish relationships with Spectrum's member financial institutions and facilitate payment settlement directly to the biller's bank. The KUBRA e-bill(TM) solution ingests a biller's existing print stream or structured billing data and transforms their basic account information into rich, dynamic online bills for presentment and payment at their corporate website or through a variety of consumer billing aggregation sites.

"Spectrum's clarity, simplicity, bank-centric functionality and market differentiation will strengthen KUBRA's distribution capabilities, and provide Spectrum access to KUBRA's existing client base," said Rick Watkin, President and CEO of KUBRA. "This partnership will afford a fast-based implementation to our clients, and speed to market is paramount to all our adoption marketing objectives."

"We welcome KUBRA to the Spectrum network. This alliance exemplifies our commitment to an open network and providing true choice for our participants in selecting their BSP partner," said John M. Perry, Spectrum's Chairman and CEO. "The addition of KUBRA and its biller customers enhances the value proposition for all our participants by increasing the number of bills available to online customers, a key driver for adoption."

As a payment systems company, Spectrum routes online payments, presentments, invoices, statements and other related information. Founded by J.P. Morgan Chase & Co., Wachovia Corporation and Wells Fargo & Company, the Spectrum network consists of 24 financial institutions that belong to or have signed letters of intent to participate in the network, including 6 of the top 10 U.S. banks. Spectrum's expansive reach includes nearly 8 million online banking customers through its founding banks and 308 large-industry billers through its technology partners including KUBRA. With the industry's only standards-based OFX/IFX platform, Spectrum enables participants to benefit from low-cost switch fees, a good funds model and it's unique same-day settlement process.

About KUBRA

KUBRA leads the market in delivering comprehensive customer communication and customer relationship management outsourced solutions. KUBRA has leveraged their expertise in these skill sets to offer various business communities personalized interactive customer communication and management solutions. Since their inception in 1992, they have created a multi-national corporation that creates value for organizations in the form of enhanced access to new markets, reduced costs and increased profitability.

KUBRA's capabilities in data processing, print production, electronic presentment and delivery and secure payment processing allow them to provide customer communication solutions through any channel and to facilitate the communication program throughout its entire life cycle - from document conception and presentment to customer response and payment. More information on the Company is available on the Internet at www.kubra.com

About Spectrum

Spectrum EBP, L.L.C., headquartered in Atlanta, Ga., is an independent payment systems company fully owned by J.P. Morgan Chase & Co. (JPM), Wachovia Corporation (WB) and Wells Fargo & Company (WFC). Formed to facilitate the exchange of electronic bills and payments, Spectrum's mission is to provide a secure, open and interoperable infrastructure to electronically link consumer and biller service providers. Additionally, Spectrum seeks to provide value to its participants by providing superior service and reducing overall bill presentment and payment costs. Spectrum does not host any bills directly, nor does it retain any bill details. Including the three founders, 24 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network including Citibank, Fleet, First Tennessee, Hibernia, M&I Bank, Provident Bank and Union Bank of California. More information on Spectrum can be found at http://www.spectrumebp.com.