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[LOGO OF NETZEE]
FOR IMMEDIATE RELEASE
Investor contact: Media contact:
Rick Eiswirth Paul Golden
Netzee, Inc. Netzee, Inc.
Chief Financial Officer Chief Marketing Officer
[email protected] [email protected]
770-200-3450 770-200-3488
NETZEE NAMES DONNY R. JACKSON AS CHIEF EXECUTIVE OFFICER
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ATLANTA (October 11, 2000)-- Netzee, Inc. (Nasdaq:NETZ), a leading provider of
Internet banking products and e-commerce solutions to the financial services
industry, has named Donny R. Jackson as Chief Executive Officer, succeeding
Glenn Sturm, who will remain as Netzee's Vice Chairman. Mr. Jackson has also
been appointed to Netzee's Board of Directors. The appointments are effective
immediately.
Mr. Jackson, 51, joins Netzee from The InterCept Group Inc. (Nasdaq:ICPT), where
he was President and Chief Operating Officer. Prior to joining InterCept, Mr.
Jackson was the Chief Executive Officer of Provesa, Inc. (a core bank processor)
and the Chief Executive Officer of a commercial bank. The InterCept Group, a
provider of fully integrated electronic products and services for community
financial institutions, has a 34% ownership stake in Netzee.
"We believe that Mr. Jackson's combined operational, managerial and financial
strengths will be a catalyst to achieve Netzee's goal of becoming the leading
Internet banking solution provider," said Sturm. "Donny has over 24 years of
experience managing and integrating financial service and technology companies.
Furthermore, since InterCept went public, he has been responsible for
integrating all of InterCept's acquisitions. We have wanted to continue to
augment the executive management of Netzee for some time and are very pleased
that Mr. Jackson has agreed to accept responsibility for the overall management
of the company."
Commenting on his new position, Mr. Jackson said: "I am excited about joining
Netzee. In less than two years Netzee has grown from its formation to a leading
organization providing technology solutions to over 7,000 banks and developing
over 700 Internet relationships. I believe that Netzee has a bright future and I
will focus on working with our partners, John Harland, The InterCept Group and
the bankers banks, to forge strong and lasting relationships with our bank
customers."
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About Netzee
Netzee provides financial institutions with an integrated retail suite of
Internet-based products and services, including full-service Internet banking,
bill payment, cash management, online brokerage, Internet commerce services,
online check reordering, custom Web design and hosting, implementation and
marketing services. Netzee also provides financial institutions with an
integrated wholesale suite of products and services, including regulatory
reporting software and financial information tools. The company was founded in
1999 as a subsidiary of InterCept. Netzee became a public company in November
1999 with InterCept presently holding a 34% ownership interest. Netzee currently
serves over 7,000 institutional customers with one or more of its products. On
October 2, 2000, Netzee announced its agreement to acquire John H. Harland
Company's Internet banking and bill payment businesses. Netzee believes that
upon consummation of the acquisition, Netzee will be one of the largest Internet
banking providers in the United States in terms of the number of installed
financial institutions. After closing of the acquisition, Netzee will have
contractual relationships with more than 800 financial institutions including
more than 700 that are actually installed on one of its online banking products.
The company's stock is traded on the Nasdaq National Market under the symbol
"NETZ." Netzee can be found on the Internet at www.Netzee.com.
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This release contains statements which constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as amended. These
statements include all statements that are not statements of historical fact
regarding the intent, belief or expectations of Netzee and its management with
respect to, among other things: (1) trends affecting our operations, financial
condition and business; (2) our growth and operating strategies; (3) whether we
can successfully combine the operations we have acquired and operations we may
acquire, to create or continue improvements to our financial condition; (4) our
ability to develop, test, sell and support new, enhanced and integrated
products, services and features in a timely manner or at all; (5) our ability to
achieve our sales objectives; (6) the continued and future acceptance of and
demand for our products and services by our customers and their customers; and
(7) whether our current or future strategic marketing alliances will be
successful in generating sales or in improving our business, results of
operations or financial condition. The words "may," "will," "anticipate,"
"believe," "intend," "plan," "allow," "strategy" and similar expressions are
intended to identify forward-looking statements. Such forward-looking statements
are not guarantees of future performance and actual results may differ
materially from those projected in the forward-looking statements as a result of
risks related to the integration of acquired assets and businesses; the
Company's ability to achieve, manage or maintain growth and execute its business
strategy successfully; its dependence on developing, testing and implementing
enhanced and new products and services; Netzee's ability to sell its products
and services to financial institution customers and their customers; Netzee's
ability to respond to competition; the volatility associated with Internet-
related companies; and various other factors discussed in detail in Netzee's
filings with the Securities and Exchange Commission, including the "Factors that
May Affect Our Future Results of Operations or Financial Condition" section in
Netzee's Form 10-K for the fiscal year ended December 31, 1999, as filed with
the SEC on March 29, 2000, as amended on May 1, 2000, and other periodic reports
filed by Netzee under the Securities Exchange Act of 1934, as amended. Netzee
undertakes no obligations to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events or changes
to future operating results.
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