ScanPoint to become master distributor of itemSTOR™ products

Company in agreement with developer DMA Associates to become exclusive worldwide master distributor of ItemSTOR Check 21-compliant check imaging products.

Merrimack, NH November 16, 2004: ScanPoint, an emerging developer and marketer of solutions helping organizations to “go paperless”, has reached agreement with DMA Associates of Saco, Maine to become the exclusive distributor of its ItemSTOR product line. Under the agreement, ScanPoint will market, support and distribute ItemSTOR to users and value added resellers worldwide.

Originally developed by DMA Associates, ItemSTOR automates check processing for banks and other businesses that process checks. DMA founder and principal ItemSTOR developer David Arenstam cites the sales and marketing strengths of ScanPoint as the primary factor in selecting it as master licensee: “ScanPoint has the skills and determination to fully realize the potential of ItemSTOR. Our strengths lie in developing high quality software. ScanPoint will ensure the software will be a successful player in the market for check processing solutions.” Arenstam has overseen the development of ItemSTOR, and specifically its pursuance of Check 21 legislation which went into effect this October. He adds: “ItemSTOR isn’t just Check 21 compliant – with it organizations benefit immediately from the new laws.

With the addition of ItemSTOR to its product line, ScanPoint plans to provide a precisely-targeted solution to banks and other companies that process large quantities of checks, especially those that want to adopt benefits promised by Check 21 legislation. The term “Check 21” is short for the Check Clearing For The 21st Century Act, signed into law by President Bush in October 2003, and taking effect on October 28, 2004. Fundamentally, Check 21 allows the digital image of a check, as opposed to the actual paper check, to be the official copy of the check. Companies that adopt Check 21 methods will streamline the check clearing process and thereby lower the costs associated with it. Spurred in part by September 11, Check 21 acknowledges that digital images are much less prone than paper to catastrophic loss.

ItemSTOR is currently in use at hundreds of locations across the country. “Our goal is to make ItemSTOR the industry leader in the fields of Item Processing and Remittance Processing”, said ScanPoint president Steve Roche, who also points to an expansion into banking-specific solutions as an important step forward for the company: “We already have many banks and credit unions using our EasyFile software for a variety of document types, but ItemSTOR is the ideal check-processing solution we’ve been envisioning with them for taking advantage of Check 21.”

About ScanPoint
Headquartered in Merrimack, New Hampshire (USA), ScanPoint is a leading provider of cost-effective solutions and services in the field of document management, concentrating on solutions for banking, insurance, government, healthcare and other paperwork-intensive organizations. It is a pioneer in the evolution towards paperless offices and workflow. EasyFile™, its flagship software product, is designed with the objectives of using industry standards to help ensure that data and the media it resides on will be useful as far into the future as possible.

For additional information about ScanPoint, Inc. and how you can go paperless, email info@scanpoint-usa.com, visit the Web at http://www.ScanPoint-USA.com, or phone 800.243.8794.

All trademarks are recognized.

###