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Exhibit 99.2
Press Release
For Immediate Release
Contact: Scott Meyerhoff
Chief Financial Officer
(770) 248-9600
THE INTERCEPT GROUP ANNOUNCES ACQUISITION OF TENNESSEE-BASED ADVANCED COMPUTER
ENTERPRISES, INCORPORATED
NORCROSS, GA (August 30, 2000) - The InterCept Group, Inc. (Nasdaq: ICPT), a
provider of fully integrated electronic products and services for community
financial institutions, today announced the acquisition of Advanced Computer
Enterprises, Incorporated ("ACE").
Based in Maryville, Tennessee, ACE provides core data processing, item
capture and check imaging services to community financial institutions. ACE has
operations centers in Maryville and Cookeville, Tennessee and currently serves
approximately 20 community banks throughout the state.
The acquisition of ACE brings added strength to InterCept's presence in
Tennessee. In June 1999, InterCept acquired L. E. Vickers and Associates in
order to provide a full suite of products and services to community financial
institutions in the Southeast region of the U.S.
"We are looking forward to joining forces with The InterCept Group,"
commented Al Shiver, President of ACE. "It was important to us that we become
part of an organization that has an excellent reputation and a history of
delivering quality products and services. InterCept is clearly a market leader
in delivering total technology solutions and we are very excited about becoming
a part of them as we continue to help community financial institutions in
Tennessee remain competitive."
John Collins, Chairman and Chief Executive Officer of The InterCept Group,
Inc. added, "We are very pleased to be able to continue to grow our company
through the addition of a quality organization like Advanced Computer
Enterprises, Inc. We believe that with the addition of ACE, we will be able to
better serve community financial institutions in the Tennessee market."
The InterCept Group is a single-source provider of a broad range of
technologies, products and services that work together to meet the electronic
commerce and operating needs of financial institutions. The InterCept Group's
services include electronic funds transfer (EFT), core bank processing software,
check imaging and data communications management, as well as Internet banking
products and services through its affiliate, Netzee, Inc. For more information
about The InterCept Group, please visit their web site at www.intercept.net or
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call 770.248.9600.
This release contains statements which constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and the Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all statements that are
not statements of historical fact regarding the intent, belief or expectations
of the Company and its
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management with respect to, among other things: (1) the anticipated impact of
certain events and circumstances; (2) trends affecting the Company; and (3) the
Company's growth and operating strategies. The words "may," "will,"
"anticipate," "believe," "intend," "plans," "allows," "should," "hope,"
"strategy" as well as 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 the Company's rapid growth and ability
to manage its growth, risks related to acquisitions and the integration of
acquired assets and businesses, dependence on new products and services and
competition and various other factors discussed in detail in the Company's
filings with the Securities and Exchange Commission, including the "Risk
Factors" section in InterCept's Registration Statement on Form S-3 (Registration
No. 333-94511) as declared effective by the Securities and Exchange Commission
on February 15, 2000.
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