Transoft International, Inc. and The McHale Group Announce Global Partnership

Transoft International Inc. and The McHale Group announced today the formation of Collaborative Cash & Logistics Inc. (CC&L), a partnership to establish shared service entities worldwide to manage the Cash Supply Chain for financial institutions.

Cary, North Carolina -- October, 2002: Transoft International Inc. and The McHale Group announced today the formation of Collaborative Cash & Logistics Inc. (CC&L), a partnership to establish shared service entities worldwide to manage the Cash Supply Chain for financial institutions.

Bo H. Holmgreen, President of Transoft International said our skill is advising financial organizations how to reduce the total cost of cash through scale optimization, re-design of current processes and solid implementation of new technologies." This process covers all items on the chain with a concentration on currency float, transportation and dynamic management. These service bureaus offer a wide array of value-added services that break the nexus between the complexities of the processes; the entrenched costs and the labor-intensive nature of the cash supply chain", stated Jim McHale, President of The McHale Group.

Certain operational areas of banking do not lend themselves to competitive differentiation. With adequately protected collaboration, there are huge benefits to be derived from optimization of such joint operations. As an example Cash Services Australia Pty (CSA) is a special purpose company formed to manage portions of the Cash Supply Chain and the Cash Logistics for ANZ, Commonwealth and Westpac Banks, three of the four largest banks in Australia. One of the three banks is a long-time Transoft customer, successfully cost optimizing the cash supply chain for years with Transofts OptiCa$h-Enterprise application.

Mr. Richard Thomas, Chairman of CSA, said "Through a process of gaining their confidence and ultimately their financial backing, Jim McHale of The McHale Group brought the three competitor Banks together in a unique collaborative CIT venture with the approval of Australia's competition regulator. It was Jim's experience and personal credibility that was central to the process."

Transoft already enjoys close cooperation with global OptiCa$h and OptiVault outsourcing partners. The strengths of these companies combined with our dedicated staffs provide the strong backing and technology background for this global effort", adds Brian Lee, Vice President, Transoft. CC&L will join together the best partners for each unique situation to deliver the most appropriate electronic solution to customer banks around the world with sole focus on cost optimization.

About Transoft International, Inc.

Transoft (www.transoftinc.com) is the world's leading provider of currency supply chain management and cost optimization solutions for the banking industry. Celebrating its 10 year anniversary, Transoft develops software that provides large recurring cost savings in ATM, branch and vault networks by applying operations research and statistical analysis to the cash inventory management and balancing of all cost components. Transoft manages cash for nearly 100,000 ATMs and branches on six continents, and is on Deloitte & Touches Fast 50" list of North Carolinas fastest growing IT companies.

About The McHale Group

The McHale Group (Mchalegrp@cox.net) assist financial institutions manage all elements of their cash supply chain with a clear understanding of operations and the economics of armored providers. The companys strength is reducing the cost of transportation and cash, sharing decades of experience in developing outsourcing vehicles for multiple financial institutions.    

Contact:

Transoft International, Inc.
Roger L. Baldridge
Phone: +1 919.678.9192
Roger.Baldridge@Transoftinc.com
www.Transoftinc.com