Community Banker
"Your Web Site: A Bankers' Service Guide for 2003"
By Matthew Barthel, January 2003
This article focuses on what makes an Internet banking program successful and indicates that banks can significantly increase usage of their website by offering free online services. Results from Online Resources' consumer adoption study are cited, showing substantial increases in both Internet banking and bill payment usage when bill payment is provided free of charge versus when it is offered for a fee. The article includes brief summaries and statistics for Online Resources as well as several other Internet banking vendors who serve community banks.

American Banker
"Online Says New Deals Ease Sting of Likely Losses"
By Kate Gibson, February 20, 2003
Responding to the news that Online Resources may lose its two largest clients due to mergers, this article explains how the company plans to replace the lost business. Online Resources' CEO, Matt Lawlor, says that he expects to fully replace the 12% loss in revenue from California Federal Bank by the end of 2003. Determined to meet its goal, Online Resources signed 56 new clients in the fourth quarter of 2002 and finished the year with 106 renewal contracts. An analyst from Jefferies & Co. says that with several competitor's banks' contracts expiring this year, Online will have an opportunity to add even more clients and further increase their market share.

American Banker
"Online Resources' Answer to Biller-Direct Sites"
By Steve Bills, May 20, 2003
This article discusses how Money HQ, Online Resources' new online personal financial management and transaction center, will aide financial institutions in the charge to "gain ground on billers' own sites." The article highlights the features of Money HQ and states that 'a market researcher said Money HQ could help Online Resources' customers leapfrog larger competitors.'

American Banker
"Online Resources Moves to Keep Stock Status"
By Steve Bills, June 16, 2003
This article reports the strengthening of Online Resources' balance sheet, a move that allowed the company to keep its listing on the Nasdaq National Market. Online Resources' EVP and CFO, Catherine Graham, is quoted as saying that although the company did not need the additional capital to operate, it was a good opportunity to reduce their debt and resolve the Nasdaq issue all at once. Analysts say that the improvement of the company's financial position will contribute to the momentum Online Resources has going as well as make the firm more appealing to financial institutions looking for their services.

Independent Banker
"For Fee or Free?"
By Mark Mueller, June 2003
This article discusses most community banks' reluctance to offer their online bill payment services for free, despite the overwhelming evidence that the channel is more profitable when fees are eliminated. Several statistics from Online Resources' consumer adoption study are cited, illustrating that the best way to increase bill payment usage is to give the service away for free. Online Resources' SVP of Marketing, Ron Bergamesca, is quoted several times in the article and says that of the company's nearly 500 clients, those who have the most successful Internet channels are the ones who offer the service free of charge.

Online Banking Report
Account Aggregation 3.0
Issues 96 & 97, July 31, 2003
This comprehensive report covers the current state of account aggregation in online financial services. The report reviews several aggregation models and discusses marketing and the ROI of the feature. There are four case studies reviewing the offerings of National City, Wells Fargo, Lockheed FCU and Online Resources. The report states, "Online Resources appears to be the first to offer a tightly integrated premium service built around aggregation technology," and "Online Resources is about to break new ground in the delivery of account aggregation and related premium services: The new Money HQ service… uses an innovative model that could shake up the market."

TowerGroup Report
"Aggregation: A Jump Start for Electronic Bill Consolidation"
By Beth Robertson, August 12, 2003
This report discusses how account aggregation is playing a new role in electronic bill presentment. It outlines new offerings that are described to "introduce a new dynamic that has the potential to reshape the electronic bill presentment business and bring new vigor to account aggregation."

Celent Communications
"Internet Banking Vendors: Escaping the Doldrums"
By Alenka Graelish, October, 2003
This report examines recent initiatives by Internet banking vendors to increase the features and functionalities of their services that clearly contribute to ROI. The report profiles and grades eleven vendors along three dimensions: financial viability, self-service features, and customer support features. Online Resources is described as "not one of the giants on the Internet banking playing field, but it stands tall for making bill pay a centerpiece of its solution and for providing an effective customer support infrastructure to promote adoption. Unlike most vendors, ORCC recognized early in the game that payments and money transfers would become key features. It also foresaw that adoption would require promotion and customer support." The report also notes the Company's high bill pay cross-sell rate and the addition of Money HQ to its product suite.

The Washington Post
"Century Seeks Small-Cap Stars"
By Matthew Keenan, Bloomberg News, November 2, 2003
A feature on mutual funds appearing in the Business section, this article is an interview of Lanny Thorndike, the manager of the $115 million Century Small Cap Select Fund. The article discusses Lanny's optimism about the effects of Bank of America Corp.'s decision to buy FleetBoston Financial Corp. He stated that "whenever a takeover occurs, there is a certain amount of dislocation." Thorndike said he believes a portion of Fleet customers will move to smaller banks that use Online Resources. The article mentions that since his Century fund started buying shares of Online Resources in April, the stock has doubled in price.

Financial DNA, LLC Daily
"Spotlight on Online Resources' New Money HQ
By Gary Craft, November 4, 2003
This is a brief overview of Online Resources' newest enhancement, Money HQ. The article states that "We believe that an increasing percentage of ORCC's and other online banking vendors' revenues will come from value-added services such as account-to-account and person-to-person transfers and bill pay."

Credit Union Times
"ORCC Ready to Spread Its Wings, says Lawlor"
By Paul Gentile, CU Times Editor, November 26, 2003
This interview of Online Resources' CEO, Matt Lawlor, discusses two areas of innovation: the Company's consumer marketing processes and its newest product enhancement, Money HQ. The article touches on the Company's process for increasing activation among new online banking users and mentions the Company's high bill payment cross-sell rate. It also talks about recent market changes that will help deepen national penetration.

American Banker
"CEO Says Online Resources 'Now Allowed to Dream Again'"
By Jennifer A. Kingson, December 9, 2003
This article discusses three areas of innovation at Online Resources: consumer relationship marketing, Money HQ, and CertnFunds, the Company's patented payments gateway. It also mentions how over the past few years the Company has focused on its balance sheet and, now that it is profitable and debt-free, the focus will shift to continuing the tradition of innovation.

Other Noteworthy Mentions

• Credit Union tech-talk, January 2003, - Ran Online Resources' white paper entitled "Realizing a Profitable Internet Channel", which describes how financial institutions can achieve a higher return on investment from their online banking and bill payment services
• The Washington Post, February 19, 2003, - Cited Online Resources' key earnings data for the fourth quarter of 2002
• The Credit Union Journal, May 30, 2003, "U.S. Central Converts E-Pay System" - Reveals the conversion of 53,000 active end users from U.S. Central CU onto the Online Resources bill payment platform
• Investor's Business Daily, July 7, 2003, "Stock Funds' Q2 Advance is Broadest Since 1999" - Mentions Online Resources as one of the Internet stocks that skyrocketed and helped the Federated Kaufmann Small-Cap Fund see significant growth in the first two quarters of 2003
• The Credit Union Journal, November 4, 2003, "Online Resources to Retire Debt" - mentions the announcement that the Company moved to accelerate the retirement of the remainder of its convertible debt
• Nightly Business Report, December 2, 2003, "Century Small Cap Select Investor is Making All the Right Choices" - Paul Kangas, host of Nightly Business Report, interviewed Lanny Thorndike, Manager of the Century Small Cap Select Fund. Thorndike mentions Online Resources as one of his largest holdings that is a good buy at current levels

Learn more — please contact Beth Halloran by calling 703.394.5348 or by email at bhalloran@orcc.com