Transoft Announces Double Digit Growth for 2002

Transoft International, Inc., continued its eight-year record of 50% growth in 2002.

Cary, North Carolina, February 2003 -- Transoft International, Inc., continued its eight-year record of 50% growth in 2002. In the midst of a bear U.S. economy, Transoft attributes its growth to several factors: Strong savings benefits of its core products, successful channel strategies, International expansion and the release of OptiVault 2.0.

Due to the savings benefits of our most prominent product, OptiCa$h, we have helped major banks worldwide realize millions in savings within mere months of implementation", said Bo H. Holmgreen, President. Overall cost optimization has been a key factor to our success in the U.S. and provides an incentive to new customers, given the current economic situation."

Another factor contributing to Transofts success is its increasing presence in the European, Latin American, Australian, Asian and African markets, where Transoft won the business of several major banks in 2002. Transoft recently expanded its European operations, consistent with its 2003 goal to double revenue internationally. Transoft also released OptiCa$h Professional in 2002, targeting community and mid-market banks. This solution has offered Transoft the opportunity to gain significant ground in the market place, and addresses the entry of less feature rich competitive products into the industry.

Since consultants and other new competitors write simple software that on the surface resembles our products, it can be difficult to demonstrate the huge differences in exception handling, adaptation to different business environments and the depth of savings. OptiCa$h-Professional gives us an entry level product, that maintains superior savings, while leveraging hundreds of R&D man-years, not present in these smaller systems," adds Michael Printer, Managing Director of Transoft Europe Ltd.

Transoft continues to lead in its industry. With customers on six continents, Transoft maintains a single code stream worldwide, showing flexibility through parameterization rather than customization. In 2002, Transoft was able to secure customers from competing vendors by: demonstrating overwhelming additional savings delivered by OptiCa$h and their corporate stability. With an 11-year focus on currency management, Transoft remains the acknowledged leader in currency management solutions for the worldwide banking community.

About Transoft

Transoft develops solutions that provide true cost optimization and improved cash management procedures. With customers spanning 6 continents, Transoft solutions manage cash for almost 100,000 ATMs and branches.

Transoft is on the Fast 50 list" of North Carolinas fastest growing IT companies and can be found at www.transoftinc.com.

Contact:

Transoft International, Inc.
Joanna McGee
Phone: 919.678.9192
Joanna.Mcgee@Transoftinc.com