ProgressSoft with a Spectacular Exposure in Sibos 2007

Boston, October 1, 2007

ProgressSoft, the industry-leading provider of financial imaging solutions, concluded a fruitful participation in Sibos 2007, the world's premier financial services event which took place in Boston - USA from the 1st till 5th of Oct, 2007.

Showcasing its latest in payments and imaging technologies, ProgressSoft received astonishing attention for its world's first Electronic Image-based Check Clearing solution and its newly born Signature Recognition solution which were demonstrated to a numerous number of visitors from top notch financial institutions and payment associations.

Along side a number of prospect projects that are coming down the pipe for both the Electronic image-based Check Clearing solution and the Signature Recognition solution which started taking shape throughout the Sibos week, ProgressSoft was also presented with partnership proposals from different solution providers that were exhibiting at Sibos to form an alliance with them and offer a better and more comprehensive service for the financial services industry.

The exposure that ProgressSoft booth achieved was marvelous as it attracted top decision makers from different institutions like the US Federal Reserve besides several Central Banks and Payment Associations from different countries around the globe.

Opportunities for open channels of cooperation between ProgressSoft and U.S based peers started becoming more solid during Sibos through a number of meetings held in the ProgressSoft booth.

The timing couldn't be better for ProgressSoft's appearance in Sibos this year in the U.S as the local market is in its peek period in applying the Check21 Act in its different forms from RTGS solutions to Image-based Check Clearing solutions where ProgressSoft excels.