Harbor Payments Ranks as The Fastest Growing Technology Company in Georgia

Atlanta, GA, October 7, 2005 – Harbor Payments, Inc., the leading provider of next generation electronic invoicing, billing and payment solutions, ranked first in Deloitte & Touche’s prestigious Technology Fast 50 Program for Georgia, a ranking of the 50 fastest growing technology firms in the state by Deloitte & Touche LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over the five years from 2000-2004.

“Making Deloitte’s Technology Fast 50 is a testament to a company’s vision that has resulted in exceptional growth over five years,” said Thomas McNulty, Partner, of Deloitte & Touche LLP in Atlanta. “The leadership team at Harbor Payments has the right stuff for growth, and we salute their accomplishments.”

“This award recognizes Harbor Payments’ ability to deliver strategic solutions designed to address issues our clients face in a constantly growing marketplace,” stated Ashish Bahl, CEO of Harbor Payments. “We have been able to sustain a dominant position in the payment industry by remaining totally committed to our clients in all of our activities, and by continuing to be the only provider in the marketplace to deliver a fully integrated, modular solution across all collection and disbursement functions, across all industries, and to both large and small clients,” continued Bahl.

Over recent months, Harbor Payments has achieved significant goals, further positioning itself for growth and profitability as the low cost provider in the sector. In August, the company secured a $40 million capital commitment from Oak Investment Partners, one of the nation’s most prestigious technology venture capital firms with over $5.8 billion in total committed capital. The funds will be used for additional development of software and services, future acquisitions, and international business development. Also, Harbor Payments’ acquisition of Emergis Technology’s electronic invoicing business in July is adding significant businesses to an already marquee set of clients and distribution partners, which includes such names as UPS, Proctor & Gamble, First Data, Wachovia and MasterCard.

“Growing our recurring revenue streams, currently at about 90% of the total revenue base, while maintaining a conservative capital structure creates a powerful platform to continue on our growth trajectory,” Bahl commented.

Harbor Payments has achieved a spectacular 130-fold increase in revenues from 2000 to 2004, making it the winner on Deloitte’s list. The average increase in revenues among companies who made the list was 12-fold.

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2004, be headquartered in North America, and be a “technology” company, defined as a company that owns proprietary technology that contributes a significant portion of the operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology in a unique way does not qualify.

About Harbor Payments

Harbor Payments is a leading corporate payments’ management company focused on electronic outsourced invoicing, billing, and disbursement solutions for the Global 1000. The products and services enable organizations to more effectively send and receive invoices, make and collect payments, and manage all associated internal workflows. While transforming and streamlining the client organization’s operational and financial processes, Harbor Payments products and services complement the client’s existing information systems and accounting applications. To help its clients receive the maximum value for its products and services, Harbor Payments also provides professional services for implementation, training, and product enhancement.

Solutions of the Company are marketed under the brands of Invoice Harbor, Billing Harbor and Payments Harbor. Harbor Payments, which was formed in 2000, is headquartered in Atlanta and employs approximately 200 people.

For more information, please visit the company’s web site at www.harborpayments.com

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