uMonitor Continues its Rapid Growth

MEMPHIS, TN, July 7, 2005 - Parsam Technologies, the leading uMonitor financial technologies source for credit unions and banks, today announced that it has been selected by four additional credit unions and one credit union league to implement its financial solutions for New Account Application and Online Funding with Switch Kit, Funds Transfer Service, and Account Aggregation. These additional customers, along with growth with existing customers, have put Parsam on a rapid expansion path.

As a result of significant growth and continued expansion, uMonitor has relocated its headquarters to a larger office complex in the Koger Center in Memphis, Tennessee. This new facility offers state-of-the-art security, a new data center, expanded network access, and increased space for growth. It also provides additional conference rooms, training rooms, guest offices, and an open area for workstations. "As uMonitor experiences steady growth, the larger space enables us to work independently or as a team. This move demonstrates our commitment to our clients and our plans for future expansion. We are pleased with the growth in our financial technology business," explained Dinesh Sheth, CEO of Parsam Technologies.

Parsam's head office is located at 3197 Players Club Parkway, Memphis, TN 38125. The company's phone and fax numbers remain the same. Additionally, Parsam has an off-shore development facility in Kerala, India. Parsam's sister company, SRC, has relocated to this new facility as well. For further information, please visit visit www.umonitor.com

About uMonitor – Parsam Technologies
uMonitor financial technologies offer a wide range of online solutions specifically designed to help financial institutions provide the most up-to-date services. These highly configurable and customizable solutions enable financial institutions to increase profitability, generate revenue, improve regulatory compliance, and improve employee productivity while reducing costs. uMonitor technologies include New Account Setup and Online Funding with Switch Kit, New Loan Application Processing, Funds Transfer Service, Bill Presentment and Payment Solutions, Premium Account Aggregation Service, Document Management System, Advisor-Client Relationship Management and other services.

For more information, please visit www.umonitor.com or contact Gillian Smoot at gsmoot@umontitor.com or by phone at 901.757.1212, ext.7115.

Parsam Technologies , LLC
3197 Players Club Parkway
Memphis, Tennessee 38125

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