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PenSoft Partners With Intercept Corporation for Seamless Integration

Newport News, Virginia – August 12, 2003 – Peninsula Software of Virginia, Inc. (PenSoft) announces their new partnership with Intercept Corporation (Intercept), a leading third-party ACH processor. This new partnership provides PenSoft® Payroll users seamless direct deposit transmission through a single processor.

“We have spent nearly two years researching direct deposit options for our customers,” said Leroy Newman, President & CEO of PenSoft. “We looked for competitive pricing, practically effortless implementation, and outstanding service. Intercept Corporation met the criteria we value and were looking for.”

PenSoft has developed this partnership with Intercept to accommodate the needs of PenSoft customers by offering a low cost, automated direct deposit alternative for companies and their employees. The partnership was also developed for payroll processors using PenSoft Payroll. They can add direct deposit to their current client services for an additional profit center and offer it to their own employees as well. PenSoft Payroll users can process all direct deposit files using the automated process in PenSoft Payroll through Intercept to considerably simplify the process.

For additional information on processing direct deposit, visit www.pensoft.com/directdeposit.asp.
For more information about PenSoft Payroll, call 888-PENSOFT (888-736-7638) or e-mail info@pensoft.com.

About PenSoft

Founded in 1983, Peninsula Software of Virginia, PenSoft, develops PenSoft Payroll; payroll software designed for small to mid-sized U.S. businesses with 1 to 2,000 employees per company. With many payroll experts and Certified Payroll Professionals (CPP) on staff, PenSoft monitors state and federal tax laws for changes to ensure PenSoft Payroll is always current and up-to-date, and is backed up by unsurpassed program support for users and an online Knowledge Database. Corporate headquarters are located in Newport News, Virginia. For additional information, visit PenSoft on the web at www.PenSoft.com.

About Intercept Corporation

Founded in 1993, Intercept Corporation is a privately held, third party processor of electronic funds transfers (EFT) through the Automated Clearing House (ACH). Since its inception, Intercept is one of the fastest growing, technologically-advanced, and widely-recognized EFT processors in the industry. We constantly monitor the industry for changes in rules, regulations, and systems to ensure that we provide comprehensive service to our customers. Intercept is dedicated to providing our customers quality products, services and support. Due to our exceptional customer service and attention to detail, we are able to meet the needs of high volume corporate accounts, as well as small to mid-range companies.