FOLIOfn Chooses Bankers Systems’ IRA Solutions For On-line Investing Business

(ST. CLOUD, MINN., August 10, 2000) –Bankers Systems, Inc. today announced it will provide IRA services to one of the most talked about new players in on-line investing, FOLIOfn, Inc. FOLIOfn was founded by Steven M.H. Wallman, a former Commissioner of the Securities and Exchange Commission. Kiplinger’s Personal Finance recently called the company’s new way of investing "as revolutionary as former Vanguard chief John Bogle’s introduction of index funds 25 years ago."*

"On-line businesses need quality solutions that are flexible enough to adapt to a rapidly changing marketplace and consumer demands," said Chuck Rau, Vice President of Retirement Plan Services at Bankers Systems. "Our compliance and support solutions help financial services companies meet that challenge."

Bankers Systems is providing FOLIOfn with a tailored package of IRA products and services including Web-based IRA documents, administration services, training, and consulting. This package makes it possible for FOLIOfn, an on-line brokerage, to make its unique investing approach available for IRA accounts.

"IRA accounts are a key component of our service offering," said Elizabeth Piper-Bach, Managing Director of Brokerage Activities for FOLIOfn. "Bankers Systems was a clear choice based on the flexible, high-quality products and the knowledge of its team. The Bankers Systems solution integrated easily into our on-line environment allowing us to move ahead quickly."

Bankers Systems began offering IRA products and services at their inception. Today, the company’s robust IRA product line serves banks, thrifts, credit unions, and brokerage and mutual fund companies. The product line includes numerous solutions to meet the retirement plan business objectives of the financial institution: preprinted, electronic, and web-based documents; administration and consulting services; resource manuals and educational products; marketing brochures; plus, a national seminar circuit that trains over 12,000 attendees a year.

FOLIOfn’s first product, a proprietary system known as FOLIO investing, uses the Internet and advanced technology to let investors easily buy and sell entire personalized baskets of stocks—known as "FOLIOs"—with just a few clicks of the mouse. FOLIO investing combines benefits of mutual fund investing, including diversification and simplicity, with advantages of stock investing, including corporate governance and tax planning tools that can save investors money. Instead of trying to pick stocks one at a time or trying to identify the "perfect" mutual fund, investors simply select or create FOLIOs that satisfy their investing goals and preferences. Investors can base their choices on preferred risk levels, personal values, industry sectors and other factors. Investors can choose from scores of Ready-to-Go FOLIOs, or create their own, using stock selector tools or even picking one stock at a time. And investors can always modify any FOLIO to meet their preferences.

About Bankers Systems

BANKERS SYSTEMS INC., a CCH INCORPORATED company, is a leading national provider of compliance resource solutions for financial institutions and their legal counsel. Founded in 1952, Bankers Systems is nationally recognized for the development and delivery of compliance products that support lending, deposit, and retirement plan financial services transactions and related services. Bankers Systems exclusive Expere knowledge base is the power behind its documents, software, training, and other services that support all 50 states and the District of Columbia. More than 12,000 financial organizations, including 83 percent of U.S. banks, count on Bankers Systems solutions to increase their efficiency, productivity, and profitability and to help them manage risk. The company’s customers include banks, credit unions, finance companies, and brokerage and mutual fund companies, and their solutions are used by over 60 of the industry’s leading core processors and systems integrators. To learn more about Bankers Systems, Inc., visit its web site at www.bankerssystems.com.

About FOLIOfn

FOLIOfn, Inc.—www.foliofn.com—together with its wholly-owned brokerage subsidiary FOLIOfn Investments, Inc. is harnessing the power of the Internet to enable individual and smaller institutional investors to invest and trade better, smarter, and easier. FOLIO investing, the first in the series of smart financial services from FOLIOfn, offers a whole new way to invest and trade, combining many of the best qualities of mutual funds, traditional brokerage services, and on-line trading.

FOLIOfn’s financial backers include PSINet (Nasdaq: PSIX), one of the nation’s leading Internet service providers, Mayfield Fund, one of the country’s elite capital partnerships, meVC Draper Fisher Jurvetson Fund I (NYSE: MVC), a venture capital fund that provides individual investors access to private equity investments, and American Century Ventures, the strategic investment group for American Century, a mutual fund, brokerage, and investment services company serving nearly two million individual and institutional investors and managing more than $110 billion in assets. FOLIO investing is offered through FOLIOfn Investments, Inc., a member of NASD and SIPC. FOLIOfn and its subsidiaries are based in Vienna, Va. Unlike FOLIOs, mutual funds are managed by a paid fund manager and registered with the SEC. FOLIO investing, like all investing, involves risk including the loss of principal.

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*Source: Kiplinger’s Personal Finance, May 2000