NEWS RELEASE - August 9, 1999

NACHA Issues Communication Tools for Financial Institutions and Employers Herndon, VA, August 5, 1999? NACHA, The Electronic Payments Association, is making tools available to financial institutions and employers to use in communicating to their customers and employees about the safety and reliability of Direct Deposit during the Year 2000 date change event. Charles Bretz, Chairman of NACHA's Marketing Committee and Senior Vice President of Compass Bank, said, "People need to know that they can rely on Direct Deposit now and in the future. The tools we now have available will help financial institutions and companies get that message out to the public." The new materials include statement stuffers for use in monthly account statements and payroll advices, information pamphlets, table cards, and advertising copy.

Elliott C. McEntee, President and Chief Executive Officer of NACHA, said, "Financial institutions, payroll processors, government agencies and regulators, and companies across the country are working to ensure that Direct Deposit will work in January. We are confident that the banking industry and the nation's payments system will be ready for the Year 2000."

Bretz added, "At heart, we believe Year 2000 is as much a human event as a computer event. These materials will provide people with the accurate and up-to-date information about Direct Deposit that they need in order to make informed decisions."

Financial institutions and companies that wish to order materials can call NACHA at (800)-487-9180 or go to www.nacha.org

About NACHA, The Electronic Payments Association
NACHA represents more than 13,000 financial institutions through its 34 regional ACH associations, six councils and corporate Affiliate Membership program. NACHA develops operating rules for the Automated Clearing House Network and for emerging electronic payment solutions in the areas of Internet commerce, electronic bill payment and presentment (EBPP), financial electronic data interchange (EDI), cross-border transactions, electronic checks, electronic benefits transfer (EBT) and student lending.