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JACK HENRY & ASSOCIATES ACQUIRES BANKVISION SOFTWARE

 MONETT, Mo., Aug. 9 /PRNewswire/ -- Jack Henry & Associates Inc. ("JHA") (NASDAQ: JKHY), a leading vendor of computer software and hardware to United States community banks, announced that it has renegotiated its arrangement with BankVision Software Ltd. ("BankVision," formed in 1978) and has accelerated its option to purchase BankVision. BankVision, located in Durango, Colo., has developed a new international software package over the last three years, which was partially funded by JHA. BankVision's 44 international installations range in size up to $85 billion in assets. The transaction will be accounted for as a purchase. BankVision currently has an agreement with IBM Latin America (IBM-LA) whereby IBM-LA markets BankVision's international banking software as a designated IBM program product. Also, BankVision is in the process of negotiating the sale of territory rights and the formation of a joint venture with a business partner in Southeast Asia.
 BankVision recorded revenues of $1.8 million in calendar 1992 from software and hardware sales and associated services, and expects revenues to increase significantly with the transition from a development phase company to a software sales organization. Near term expectations are that sales would most likely occur in Pacific Rim countries and in Latin America. Current revenue estimates range from $4.0 million up to $5.5 million for the year ended June 30, 1994, per Terry Thompson chief financial officer of JHA.
 JHA issued BankVision shareholders 167,979 shares of JKHY stock, valued at $2 million. Additional payments, in stock, are to be made in the future based on the earnings of BankVision. The transaction is expected to be non-dilutive.
 "We are extremely excited about increasing our international market presence through the BankVision acquisition," said Jack Henry, chairman of JHA. "We believe that this acquisition represents an excellent opportunity to expand our existing base of banking customers throughout the world. Our new BankVision international customers will receive the same high quality service and attention that Jack Henry & Associates' U.S. customers have come to expect."
 JHA provides integrated computer systems for banks and other financial institutions. JHA markets, installs and supports these in-house systems throughout the United States and overseas. JHA's software systems are, with this acquisition, now installed at over 895 banks worldwide.
 -0- 8/9/93
 /CONTACT: Terry W. Thompson of Jack Henry & Associates, 417-235-6652/
 (JKHY)


CO: Jack Henry & Associates Inc.; BankVision Software Ltd. ST: Missouri, Colorado IN: FIN CPR SU: TNM

MC -- DV004 -- 0667 08/09/93 10:08 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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