Press Release

RolloverSystems Expands Access To 401(k) Tool Through Agreement With HR Technology Firm

4myBenefits Joins Growing List of Key Distribution Partners

CHARLOTTE, N.C. (October 29, 2003) -- RolloverSystems Inc., the leading supplier of 401(k) rollover technology, said 4myBenefits Inc. will offer RolloverSystems' unique 401(k)-to-IRA rollover tool to client companies that want to give their employees a smart, convenient way to safeguard their retirement savings during career transitions.

Introduced earlier this year, RolloverSystems' rollover tool allows 401(k) plan participants who want to roll over their retirement savings to go online, fill out a simple form and receive multiple IRA offers from competing top-tier financial institutions, and complete the rollover transaction in as little as 25 minutes.

"We are delighted that RolloverSystems has been chosen to provide 4myBenefits client companies and their employees with the fastest and most convenient 401(k) rollover service available," said Reginald Bowser, president and chief executive officer of RolloverSystems. "This partnership is in line with our strategy of extending distribution of our unique rollover solutions through HR technology firms such as 4myBenefits, as well as career-oriented Web sites such as CareerBuilder.com and directly through employers."

"The addition of RolloverSystems' unique 401(k) rollover solutions strengthens our existing products and services and advances our core mission," said Justin Peter, Vice President of Marketing of Cincinnati-based 4myBenefits Inc. "Like RolloverSystems, 4myBenefits is committed to using technology to enhance employee benefits while at the same providing employers with solutions that streamline and reduce the cost of benefits administration."

An estimated 14 million American workers change jobs annually and must decide what to do with the retirement savings in their former employer's 401(k) plan. Many are simply taking a lump-sum distribution, or "cashing out," and losing up to 40 percent of their hard-earned savings to taxes and penalties in the process. Most financial advisors recommend rolling over the 401(k) savings into another tax-deferred savings vehicle such as an IRA. While the traditional rollover process can be cumbersome and time-consuming - taking up to eight weeks - RolloverSystems has simplified the process and made it possible to complete the entire transaction in as little as 25 minutes.

Job changers who need to roll over their 401(k) savings can access RolloverSystems' products and services directly at www.rollovermarket.com or at www.careerbuilder.com. Partnerships with 4myBenefits and other HR technology companies further simplifies the rollover process by enabling plan participants to access 401(k) rollover tools directly through their own employer's company intranet.

RolloverSystems currently offers Rollover IRA products and services from four major top-tier financial institutions - Merrill Lynch, J.P. Morgan Chase & Co., TD Waterhouse, and Harrisdirect - and expects to announce additional institutions in the coming weeks.

In addition to easing the rollover process for employees, RolloverSystems' technology also will help human resources administrators by reducing the amount spent on retirement plan administration while helping them comply with the Economic Growth & Tax Relief Reconciliation Act of 2001. EGTRRA requires that employers automatically roll over distributions for certain former employees unless the plan participant chooses otherwise.

About 4myBenefits

4myBenefits, with headquarters in Cincinnati, Ohio, is a leading vendor of online benefits communication services for small to large employers. Founded in 1999, 4myBenefits has been the forerunner in developing a service-oriented business model that delivers affordable, high-tech HR and communications solutions specifically tailored to each client's needs. Working as a single URL for employees to locate accurate benefits plan information, link to providers, financial planners and their own retirement plan information, 4myBenefits allows the small- to medium-sized employer duplicate intranet services including a daily bulletin board, at a fraction of the cost of building it themselves. Through its 4my2ndPaycheck module, the employer's contributions toward the benefit plans are graphically depicted as a second paycheck helping employees to understand the true value of the benefit programs, including 401(k) matching funds and paid time-off. Other 4myBenefits alliances allow many of the Human Resource administrative functions to be outsourced, enabling professionals to concentrate on training and employee development.