Harbor Payments Acquires ExpensePath Software, an Innovative Provider of Web Based Purchase Card Solutions

Atlanta, GA, January 4, 2006 – Harbor Payments, Inc., the leading provider of next generation electronic invoicing, billing and payment solutions, today announced that it has acquired the purchase card business of ExpensePath Software. ExpensePath Software has been providing robust web based purchasing and T&E card software solutions for major corporations, universities, and municipalities since 1995.

“The fit is both powerful and indisputable. The demand for our product in the B2B marketplace is growing exponentially, and we are proud to attest to having developed a most innovative solution for businesses while working intensely with our clients to perfect it,” declared James Carroll, CEO of ExpensePath.

Ashish Bahl, CEO of Harbor Payments joins: “This strategic acquisition will allow Harbor Payments to integrate purchase card payments within its Payment Harbor Payments platform. By combining our solutions, we will be able to even further assist our clients in reducing the resources spent on reconciliation and administration, while expanding the purchase card program to its full potential.” Mr. Bahl concludes: “With this transaction, our platform offers the most robust ability to deliver and report on even the detailed transaction data to all parties, independent of the industry; further reduce interchange fees; and from holistic perspective, help our clients to reconcile all transactions into a single platform.”

Expense Path Software product will be integrated under Harbor Payments Payment Harbor platform. Harbor Payments will support both outsourced and “in-house” versions of the ExpensePath Software product.

About Harbor Payments
Harbor Payments is the leading full-cycle corporate payments management company focused on electronic outsourced invoicing, billing, and disbursement solutions for the Global 1000. The company’s products, services, and insight enable organizations to manage cash flow more effectively by efficiently sending and receiving invoices, making and collecting payments, and managing all associated internal workflows. While transforming and streamlining the client organization’s operational and financial processes, Harbor Payments products and services adapt to and complement each client’s existing information systems and accounting applications.

The Company’s solutions are marketed under the brands of Invoice Harbor, Billing Harbor, and Payments Harbor.