« More 2001 Releases

McLean, VA (June 6, 2001) Online Resources Corp. (Nasdaq: ORCC), a leading Internet application service provider to financial institutions, today announced the repurchase of $3.5 million — approximately 18 percent* — of its series of convertible subordinated notes due 2005, resulting in a one-time gain of approximately $1 million, after amortization of financing origination costs.

Carl Blandino, executive vice president and chief financial officer stated, "Online Resources' recent performance, measured against its operating plan, led us to conclude that we had excess cash resources available to us beyond those needed to reach operating break even as projected for early to mid 2002. When the opportunity presented itself to repurchase this convertible debt on attractive terms, we saw a favorable benefit-to-risk tradeoff for our shareholders. The transaction results in less potential shareholder dilution of approximately 4 to 5 percent, less interest expense and higher equity book value."

Online Resources Corporation (www.orcc.com) offers a comprehensive suite of e-financial services. Founded in 1989, the company provides its QuotienSM Internet banking, bill payment, customer care and other Web-based financial services to over 500 financial institutions with 400,000 consumer and small business end-users. As part of its suite of services, the company processes approximately 10 million bill payments per year, clearing over $3 billion. An integrated database enables seamless user support, targeted marketing and personalization. Clients and users benefit from a simple yet powerful Internet solution, backed by an end-to-end service quality guarantee and bundled pricing advantages.

*The figure originally reported in this press release as 8 percent was incorrect and has been changed to reflect the actual percentage.

This news release contains statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed to be a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specifically factors that might cause such a difference include, but are not limited to: the company's history of losses and anticipation of future losses; the company's dependence on the marketing efforts of third parties; the potential fluctuations in the company's operating results; the company's potential need for additional capital; the company's potential inability to expand the company's services and related products in the event of substantial increases in demand for these services and related products; the company's competition; the company's ability to attract and retain skilled personnel; the company's reliance on the company's patents and other intellectual property; the early stage of market adoption of the services it offers; consolidation of the banking and financial services industry; and those risks and uncertainties discussed in filings made by the company with the Securities and Exchange Commission, including those risks and uncertainties contained under the heading "Risk Factors" in the company's Form 10-K, latest 10-Q, and S-3 as filed with the Securities and Exchange Commission. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements.