FOR IMMEDIATE RELEASE

Alogent’s Sierra Clearing Selected as Processing Software for World’s Largest Item Processing Outsourcer

-Alogent Partners with iPSL-

ATLANTA, March 1, 2002 - Alogent Corporation, a leading developer of payment transaction processing solutions for global financial institutions and remittance processors, announced that it signed a $19 million, nine-year agreement with iPSL (Intelligent Processing Solutions Ltd.) to provide the strategic check processing software platform for the world’s largest item processing outsourcing joint venture.

IPSL, based in the United Kingdom (UK), is an outsource processing joint venture formed by Lloyds TSB Bank plc, Barclays Bank plc, and Unisys that provides check and credit clearing for the partners and their clients.  iPSL is the single largest item processor in the UK, currently clearing almost half of the UK’s checks and expecting to increase this volume to almost 70 percent when it begins processing the work of the newest joint venture partner, HSBC Bank plc.

In the UK, as in the United States, checks represent a declining share of an increasing payments volume. The Association for Payment Clearing Services (APACS) reports that checks presented in the UK decreased by 5.4 percent to 2.7 billion items in 2001, while non-cash payments increased by 4.9 percent. This changing ratio of paper to electronic payments presents a business challenge to all financial institutions, which are under pressure to generate efficiencies from their item processing operations.

CEO of iPSL Phil Hickman, said, “We look forward to deploying Alogent’s software as part of our mission-critical core processing operation. Using Sierra Clearing as the major component of our processing solution allows us to manage our costs as check volumes decline, while expanding our business opportunities by offering the latest innovations in products and services to meet and exceed our customer’s needs.”

“We are pleased to partner with iPSL to deliver this technology platform,” said Brian Geisel, CEO of Atlanta-based Alogent Corp. “Their selection of Sierra Clearing will enable them to reduce fixed overhead and variable costs, deliver economies of scale and enable their clients to migrate towards integration of their retail networks and core processing systems. It is also a strategic partnership for Alogent as it allows us to showcase the revolutionary benefits of our Sierra Solution to the top 50 U.S. banks. Our Windows 2000 platform will supplement then replace the existing IBM and Unisys legacy systems at these institutions, leveraging the proven robustness and scalability of our platform.”

“The key asset that Lloyds TSB brought to iPSL was the strength and extensibility of Alogent’s Sierra Clearing software platform, which has been proven in its role at Lloyds TSB’s re-engineering of the branch-to-center process,” said Ron Whatford, group operations director of Lloyds TSB.  “Without this foundation, the iPSL enterprise would be constrained in its ability to grow with the processing needs of its members.”
 
Alogent’s role in the outsource venture is the delivery and implementation of its Sierra Clearing system as the core check clearing software platform for iPSL. Sierra Clearing is a key enabling technology because it provides open architecture processing efficiencies through flexible workflows and minimized exceptions, Web-based software for data and image processing, and a structured rules engine for the bank to change its processing rules as its business needs change.

To achieve the benefits of end-to-end integration, the member banks may choose to use Sierra xClearing, the company’s flexible deposit automation product, to capture and process transaction data and related information at the branch teller counters and branch back offices. Sierra Clearing can also accept data from in-house branch data capture systems. iPSL member Lloyds TSB currently uses Sierra Clearing for its central processing platform and Sierra xClearing in its retail branch network for image-based deposit automation.

About ProfitStars

ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(R) provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

SOURCE Jack Henry & Associates, Inc.

http://www.jackhenry.com