EastNets partners with CheckFree to deliver state-of-the-art Operational Risk Management solutions to financial institutions in the Middle East

EastNets, the leading payments and security solutions provider for the government and financial service industry in the Middle East, has signed a business partner relationship with CheckFree Corporation [NASDAQ: CKFR],to deliver software solutions that will enable financial organizations in the region to better manage operational risk and increase operational efficiency.
 
CheckFree provides Operational Risk Management solutions comprising four core competencies of reconciliation, exception management, workflow and business intelligence. Together with EastNets, CheckFree’s solutions will enable banks and securities firms in the Middle East to gain real-time reporting, control and visibility into electronic transactions of all types while helping to mitigate risk and facilitate regulatory compliance through accurate and detailed reporting.
 
"We are pleased to partner with CheckFree, whose expertise in Operational Risk Management has been acknowledged the world over," said Hazem Mulhim, CEO, EastNets. "The partnership with CheckFree will enable EastNets to deliver best-of-breed solutions that enable the region's financial organizations to effectively manage, monitor and mitigate operational risk. Implementing these state-of-the-art solutions will help organizations to achieve significant operational efficiency and financial control, ultimately boosting business growth."
 
Ian Sinclair, Head of Partner Management, CheckFree Software, said, “EastNets brings to CheckFree a significant financial services client base and strong relationships with prestigious customers, as well as experience delivering sophisticated technology solutions. With CheckFree’s Operational Risk Management software supported by the sound regional experience and proven delivery expertise of EastNets, we are confident that organizations in the Middle East will quickly benefit from solutions that we can jointly bring to our customers."
 
Financial organizations around the world have benefited from CheckFree’s market-leading solutions. CheckFree’s global client base includes retail and investment banks, asset and investment managers, and brokers.
 
"EastNets is committed to forging carefully developed alliances with leading industry players, to deliver solutions of the highest quality to our customers. We have a proven track record of identifying and delivering world-class technologies that are best suited for the regional market. More importantly, EastNets' comprehensive understanding of the Middle East market allows it to tailor these service offerings to meet specific regional requirements," Mulhim concluded.
About EastNets (www.eastnets.com)
Founded in 1984, EastNets, formally known as Eastern Networks, is a leading Payments and Security Solution Provider for the government and financial service industry. As a recognized market leader, the company is strategically positioned with offices across the broader Middle East region providing products and services either directly to our customers, or on a hosted basis through the EastNets Service Bureau (ENSB).  In addition to its presence in the UAE, EastNets is strategically positioned in five other major markets, with offices in Jordan, Turkey, Iraq, Egypt, and Bahrain.
 
 
About CheckFree (www.checkfreecorp.com)
 
Founded in 1981, CheckFree Corporation (NASDAQ: CKFR) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage about $1.3 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two thirds of the 12 billion Automated Clearing House transactions in the United States. The division also provides operational risk management, financial messaging, corporate actions, and regulatory compliance software to more than 1,500 organizations across the globe.
 
Certain of CheckFree’s statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in CheckFree’s business, and other risks and uncertainties detailed from time to time in CheckFree’s periodic reports filed with the Securities and Exchange Commission, including CheckFree’s Annual Report on Form 10-K for the year ended June 30, 2005 (filed September 2, 2005), and Form 10-Q for the quarter ended September 30, 2005 (filed November 8, 2005). One or more of these factors have affected, and could in the future affect CheckFree’s business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this press release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by CheckFree, or any other person, that the objectives and plans of CheckFree will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and CheckFree assumes no obligation to update any forward-looking statements.