LPL Financial Services Selects Bottomline Technologies' Financial Resource Management -FRM- Software.

Business/Technology Editors

PORTSMOUTH, N.H.--(BUSINESS WIRE)--Oct. 31, 2001

Bottomline Technologies(R) (NASDAQ: EPAY), a leading global technology provider of Financial Resource Management (FRM) software, today announced that LPL Financial Services, the nation's number one independent brokerage firm, has licensed Bottomline's PayBase(R) Universal Payment Engine. PayBase is the payment component of Bottomline's FRM software offerings.

LPL selected Bottomline's payment automation platform as an integral part of its securities clearing business. With dual headquarters in San Diego, CA and Boston, MA, LPL employs more than 3,800 registered financial services representatives, located in over 1,800 branch offices throughout the country. PayBase will enable LPL to better manage and control its critical customer disbursement operations.

"Bottomline's system will help us to markedly improve our brokerage payment processes," remarked Steve Ayala, assistant vice president of finance for LPL Financial Services. "As we work to maintain our leadership position in the marketplace, leveraging this new technology will give us more control and enhanced security over our processes, reducing our overall costs."

PayBase will be used as an extension of LPL's BETA back-office system. The payment files required for PayBase output will be generated through the BETA platform, which is prominent within the financial services industry and includes database and brokerage account management tools.

"We are pleased that LPL has joined the extensive roster of Bottomline customers that have selected PayBase as their payment automation system," said Dan McGurl, Bottomline's chairman and CEO. "Our FRM software offerings, which include PayBase, are designed to help organization's consolidate their financial processes, and provides the necessary infrastructure to position them to move from paper-based to electronic or web- based processes when they are ready to take that next step."

About LPL Financial Services

LPL was formed in 1989 through the merger of two small but successful brokerage firms, Linsco (established in 1968) and Private Ledger (founded in 1973). Today, LPL is America's No. 1 independent brokerage firm - with more than 3,800 registered representatives, based in 1,800 branch offices nationwide. Financially strong and growing, LPL's total revenues have increased approximately 20% per year since 1992. LPL's excess net capital - a measure of LPL's solvency and ability to invest in our business and representatives - is the highest in the independent broker/dealer industry.*

* Based on previous year's revenues as reported in Financial Planning Magazine, June 1996-2000

About Bottomline Technologies

Bottomline Technologies(R) (NASDAQ: EPAY) is a leading global technology provider of Financial Resource Management (FRM) software. Bottomline's comprehensive Suite of FRM offerings enable businesses and financial institutions to more effectively manage their critical financial transactions, cash decisions and trading partner relationships, leveraging the web. FRM Applications include Electronic Payments and Cash Management, Electronic Invoice Receipt and Management, Electronic Invoice Presentment and Payment (EIPP) and Electronic Banking. Founded in 1989, Bottomline maintains its corporate headquarters in Portsmouth, NH and international headquarters in Reading, England. For more information, visit Bottomline on the web at www.bottomline.com, or dial [phone] or [phone].

Cautionary Language

This press release may contain forward-looking statements that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10K filed September 2001 and Form 10Q filed May 2001.