ProgressSoft, the Platinum Sponsor of MEFTEC 2006 - Bahrain

Amman, October 29, 2005

Under the auspices of the Bahrain Monetary Agency, MEFTEC is held in the heart of the region's financial capital, where renowned IT solution providers and senior IT decision makers of Middle East's financial community will blend together to exchange knowledge and do business.

As the platinum sponsor of MEFTEC, ProgressSoft will be assuming a significant role in the event's programme; in addition to exhibiting a distinguished suite of imaging solutions, ProgressSoft will be conveying its expertise through presentations conducted during the conference sessions and executive briefings.

During the event's highly specialized trade exhibition, ProgressSoft will be showcasing some intelligent imaging solutions comprising electronic check clearing, signature verification and enterprise document management and archiving. "ProgressSoft's presence in MEFTEC 2006 reflects our long lasting commitment to availing our focused expertise and latest innovations to the financial world while assuming a significant position among industry leaders." Mr. Michael Wakileh, Business Development Manager, ProgressSoft.

For the first time ever, ProgressSoft will be introducing in such a regional event the revolutionary PS-ECC; the world's first Electronic Check Clearing Solution that claimed the attention of the international banking community in most prestigious events and exhibitions with several successful countrywide implementations notched on its belt. PS-ECC facilitates same day clearing of checks through an electronic exchange of check images in place of the cumbersome movement of paper-based checks between banks and clearing houses, while promising a profoundly advantageous clearing process for banks, central banks, and clearing houses.

Delegates comprising top-notch decision makers in the Middle East will have the opportunity to view other ProgressSoft innovations, including PS-EDMS; the Enterprise Document Management and Archiving System especially designed for institutions, firms, banks and governmental set-ups having a tremendous flow of daily paper work, PS-SIG; the visual and automatic signature verification system that is dedicated to managing storage and retrieval of signatures, and PS-Workflow; the total solution for the management, re-engineering and electronification of business processes for medium and large-sized firms.

[About ProgressSoft]

Committed to a boundless aspiration towards innovation since its inception in 1989, ProgressSoft has been leveraging the latest in imaging technology to introduce 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.