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Online Resources Opens 2003 With Higher Than Expected Earnings

Year-Over-Year Revenue Growth Exceeds 25 Percent for 30th Consecutive Quarter

Quarterly Operating Data
(See Note 1)

    % Change
2Q 2001 3Q 2001 4Q 2001 1Q 2002 2Q 2002 3Q 2002 4Q 2002 1Q 2003 1Q03 vs. 1Q02 1Q03 vs. 4Q02
FINANCIAL DATA
Revenue ($M) $6.0 $6.4 $6.7 $7.8 $7.9 $8.2 $8.5 $11.0 41% 29%
Gross Profit ($M) $2.4 $2.8 $3.1 $3.9 $4.2 $4.6 $5.0 $7.2 85% 44%
   Gross Profit Margin 41% 44% 47% 50% 53% 57% 59% 65% 30% 10%
EBITDA ($M) ($1.9) ($1.4) ($0.7) $0.3 $0.8 $1.1 $1.5 $3.2 971% 113%
Income/(Loss) from Operations ($M) ($2.4) ($1.9) ($1.2) ($0.3) $0.1 $0.4 $0.7 $2.4 900% 229%
USAGE
Unique Users (#K) 365 409 449 509 542 575 623 661 30% 6%
  Using Banking Services (#K) 236 264 292 337 365 374 403 420 25% 4%
  Using Payment Services (#K) 192 213 233 259 267 300 327 349 35% 7%
Adoption Rates
  Banking % (see Note 2) 5.6% 6.4% 7.2% 9.0% 9.2% 10.4% 11.2% 11.2% 25% 0%
  Payment % (see Note 3) 2.2% 2.5% 2.7% 3.1% 3.4% 3.8% 4.2% 4.4% 41% 4%
Transactions
  Banking Transactions (#M) 6.3 8.2 9.0 11.1 12.4 16.1 18.1 20.0 81% 11%
  Payment Transactions (#M) 2.7 2.9 3.3 3.7 3.9 4.3 4.6 4.9 34% 6%
DISTRIBUTION CHANNEL
Total Clients (#) 472 474 472 475 474 484 534 550 16% 3%
  Aggregate Checking Accounts (#M) 8.7 8.6 8.7 9.0 8.7 8.6 9.9 10.0 11% 1%
  Aggregate Account Holders (#M) 17.8 17.7 17.8 18.3 16.8 16.2 18.2 18.4 0% 1%
  % of Clients Enabled 93% 94% 93% 96% 96% 95% 85% 85% -12% 0%

Notes:

  1. Quarterly operating data includes the users, transactions and account holders of California Federal Bank, which converted off our platform at the end of the first quarter. These metrics were included as they generated material service revenue during the quarter.
  2. Represents the percentage of users subscribing to our Internet Banking Service, out of the total number of checking accounts serviced by the Company's Full Service clients (excluding clients who use our standalone Payment Services).
  3. Represents the percentage of users subscribing to our Payment Services, out of the total number of checking accounts serviced by all of the Company's clients (includes both Full Service and standalone Payment Service clients).

Media Contact: Beth Halloran,
Director, Corporate Communications
703.394.5248
bhalloran@orcc.com

Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.394.5155
cgraham@orcc.com