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Tier Appoints T. Jack Williams as New Senior Vice President of Strategic Programs; Payment Card Visionary Tapped to Leverage Tier's Transaction Processing Assets.

RESTON, Va. -- Tier Technologies, Inc. (Nasdaq: TIER), a leading provider of transaction processing and packaged software and systems integration solutions for public sector clients, today announced the appointment of T. Jack Williams to Senior Vice President of Strategic Programs. In this newly created position, Williams will report to James R. Weaver, Chairman and Chief Executive Officer, and will be responsible for identifying and executing on new ways to leverage Tier's core transaction processing assets.

Mr. Williams brings over 20 years of payment processing industry experience to Tier, and an exemplary track record of identifying and capitalizing on new market opportunities. Mr. Williams is credited with the creation and implementation of the first giftcard program while at Blockbuster Enterprises, for which he earned Credit Card Management's 1999 Debit Executive of the Year award. He was also instrumental in the first live smart card transaction, Visa's POS Check, and other innovative payment concepts.

Mr. Williams was most recently Senior Vice President, Product Management of National Processing Inc. (NPC), a leading publicly traded electronic payment processor that was recently acquired by Bank of America, as well as other senior management positions within NPC. Prior to NPC, Mr. Williams was Senior Vice President, Marketing for Stored Value Systems, where he created and implemented numerous giftcards for companies such as Kroger, K-Mart and Exxon-Mobil. During his tenure with Blockbuster, Mr. Williams was also responsible for the launch and administration of the Blockbuster Visa Card. He has received numerous industry accolades, and is a multi-year appointee to the Federal Reserve's Payment Card Industry Advisors Committee.

"This appointment underscores our commitment to maximizing Tier's current transaction processing assets, and we're honored to have someone of Jack's stature onboard to lead the initiative," said Weaver. "Jack has repeatedly demonstrated his ability to spot and develop new high growth opportunities, build strong teams and achieve excellent operational results. Jack will play a critical role in Tier's future strategic direction."

"I'm thrilled to be joining an innovative payment processing industry leader at such a key time in its growth path," said Mr. Williams. "I look forward to using my extensive industry experience to assist in delivering new products to Tier's large customer base, as well as in expanding into untapped markets. I am excited to become part of the Tier team, and I am enthusiastic about Tier's prospects."

About Tier

Tier is a leading provider of transaction processing and packaged software and systems integration services for public sector clients. We combine our understanding of enterprise-wide systems with domain knowledge enabling our clients to rapidly channel emerging technologies into their operations. We focus on sectors that we believe are driven by forces that make demand for our services less discretionary and are likely to provide us with recurring long-term revenue streams. More information about the Company is available at

Statements made in this press release that are not historical facts, including statements regarding expectations for future revenues, earnings, and expenses, are forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Tier undertakes no obligation to update any such forward-looking statements.

Each of these statements is made as of the date hereof based only on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including but not limited to the potential loss of funding by clients, including due to government budget shortfalls or revisions to mandated statutes; failure to achieve anticipated gross margin levels with respect to individual projects, including due to unanticipated costs incurred in fixed-price or transaction-based projects; the timing, initiation, completion, renewal, extension or early termination of client projects; the Company's ability to realize revenues from its business development opportunities and achieve cost savings from its restructuring activities; and unanticipated claims as a result of project performance, including due to the failure of software providers or subcontractors to satisfactorily complete engagements.

For a discussion of these and other factors which may cause our actual events or results to differ from those projected, please refer to the Company's annual report on Form 10-K for the year ended Sept. 30, 2004, our most recent quarterly report on Form 10-Q for the quarter ended June 30, 2005, as well as other filings with the SEC.
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Publication:Business Wire
Geographic Code:1USA
Date:Aug 15, 2005
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