New company finally addressing the issue of portfolio conversion backlog hurting the payment and settlement industry.

November 5, 2003 -- VITESSE WORLDWIDE, INC. is addressing the issues that all Processors, Banks, Issuers, Merchants, Affinity Partners, etc... experience when faced with converting any type (Credit Card, Mortgage, Brokerage, Loan, Insurance) of portfolio. How do we get this converted on to our systems faster? CEOs within the processing industry are watching their stock price increase over previous year but are also watching analysts down grade the stock by $.02 per share due to inability to convert portfolio backlog quick enough -- shareholders still want to see more. Bank/Mortgage/Loan/Insurance Company CEOs wanted to realize the cost savings of changing sooner. Investment Bankers that broker portfolio acquision/sale are seeing their clients change direction due to the time lines. VITESSE WORLDWIDE has built a suite of service that allow all within the value chain to see profit gain faster.

VITESSE WORLDWIDE brings executive level consulting on Business Process, Value Chain knowledge transfer, and sales strategy consulting. Combined with their VitessePRO conversion methodology that blend elements of Lean Six Sigma, I-TRIZ and DSDM, VITESSE can assist the entire value chain by providing conversion assistance as well as complete conversion outsourcing. VITESSE IS also developing software called AutoConvert, this software will minimize the headaches experienced by the processor when a merchant portfolio is sold and manual reprogramming of merchant terminals are needed. Initial estimates are that this software will automate 20% to 40% of the terminal download process