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Press Release

RolloverSystems Names Kevin Clark Vice President Of Sales For Leading Provider Of 401(k) Rollover Solutions

20-Year Veteran Of Employee Benefits/Retirement Services Industry To Play Key Role In Building Network Of Rollover IRA Providers

CHARLOTTE, N.C. (August 9, 2004) -- RolloverSystems Inc. today named Kevin M. Clark Vice President, Sales for the leading innovator of technology-based 401(k) rollover solutions.

In his new position, Mr. Clark will assume primary responsibility for building and managing relationships with the company’s financial institution partners, which offer Rollover IRA products and services to 401(k) plan participants through the RolloverSystems Network™ as well as through private-label versions of RolloverSystems’ core rollover application.

In addition, Mr. Clark will have primary responsibility for developing distribution partnerships with 401(k) plan providers and third party administrators seeking technology-based balance retention and rollover solutions.

"We are delighted to welcome Kevin Clark to the RolloverSystems team," said Reginald Bowser, president and chief executive officer of RolloverSystems Inc. "The wealth of expertise, insights, and key relationships he brings to this critical position, derived from two decades of experience in the retirement services industry, will be invaluable to us going forward."

Mr. Clark previously served as Vice President, Business Development for BISYS Retirement Services, one of the nation’s leading third party administrators of defined contribution plans. Prior to joining BISYS, he was Vice President, Northeast Sales Region, for Universal Pensions Inc., until its acquisition by BISYS in 2001.

Mr. Clark received his B.A. degree from Assumption College, graduating Magna Cum Laude.

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