ProgressSoft Concludes an Impressive Participation in MEFTEC 2006

Manama, February 20, 2006

Staged in the heart of the region's financial capital, MEFTEC embraced the industry's largest conference during which Mr. Michael Wakileh, Chief Executive Officer, ProgressSoft, conducted an executive briefing about Electronic Check Clearing. Facilitating long experience in this technology-driven banking advancement, Wakileh's presentation highlighted the added value and perceptible advantages pertaining to electronic check clearing.

A platinum sponsor of this prestigious event, ProgressSoft proved a distinctive presence in MEFTEC trade exhibition among the world's foremost technology vendors. As the opening of MEFTEC was officially announced and guests started flowing into the exhibition, ProgressSoft's booth attracted an impressive array of top-notch figures from the financial community, starting with H.E Rashid Al Maraj, Governor, Bahrain Monetary Agency, who conveyed his intrigue in ProgressSoft's very own Electronic Check Clearing system PS-ECC which has been successfully implemented in several countries as of 2001.

ProgressSoft's set of innovative products excelled at kindling keen interest among numerous senior executives from the region's most prominent banks and governmental institutions including National Bank of Bahrain, Commercial Bank of Qatar, Emirates Bank, Abu Dhabi Islamic Bank, National Bank of Kuwait, Banque Misr, Housing Bank for Trade & Finance, and Bahraini Prime Minister's Court.

During MEFTEC, ProgressSoft brought forward its rich offerings of 16 contemporary solutions that promise to evolve the current working environment across multiple financial fields. Complimenting its world first Electronic Check Clearing Solution, ProgressSoft proposed a harmonious collection of advanced and highly specialized electronic check clearing products; the PS-ECC Suite. Each serving a precise facet of the check clearing cycle, the Suite solutions cater to the individual check clearing needs of banks and clearing house units and also provide cross border check clearing. PS-ECC Suite products extend to include electronic check statement presentment, as well as proposing expedited approaches to check deposit from the Point-of-Sale, corporate locations, or Check Deposit Machines.

MEFTEC delegates had the opportunity to view live demos and presentations of ProgressSoft's Signature Verification Solution, Enterprise Document Management Solution and the revolutionary Electronic Image-based Check Clearing Solution. ProgressSoft's showcase also included the new business-savvy Securities Trading E-Settlement Solution and the new Corporate Email Archiving System.

A renowned participant in most distinguished international exhibitions, ProgressSoft affirmed their involvement in MEFTEC 2006 as complying with the commitment to exploit their long standing experience and proficiency to present exceptional solutions that best serve and meet the dynamic needs of the financial world.

[About ProgressSoft]
Committed to a boundless aspiration towards innovation since its inception in 1989, ProgressSoft has been leveraging the latest in imaging technology to deliver an impressive suite of intelligent solutions to the financial world. Today, ProgressSoft has consolidated its position as the new household name in the banking industry, claiming an active role in shaping the future of a technology-driven era of electronic financial services.

For more information about ProgressSoft, please don't hesitate to visit us at or contact us through the following connections:
Dareen Alkhas
Marketing Executive
ProgressSoft Corporation
Tel: (962-6) 5623000

Email: [email protected]