E-Duction Product
New employee benefit gives up to six months interest-free purchasing —
E-Duction lets employees save money through interest-free payroll deductions

11/16/00

Philadelphia, November 16, 2000 – The competitive face of employee benefits changed today, as a unique new product was unveiled for HR directors everywhere. E-Duction is a one-of-a-kind employee benefit that allows employees to buy goods and services 365 days a year using interest-free payroll deductions. E-Duction saves employees money by providing up to six months of no-interest purchasing power through their employers.

"E-Duction will allow employees to make interest-free purchases everywhere credit cards are accepted" said Kirk Watkins, CEO of E-Duction, Inc. "Companies can use E-Duction to make their benefits package stand out by giving employees a tool to save and better manage their money. There's also no cost, no risk, and no effort to the company. It provides value to everyone involved."

Using the E-Duction card, employees are able to responsibly make purchases up to 4% of their annual salary, interest-free, to be deducted in equal installments from a future series of paychecks, up to six months. For companies who choose to include E-Duction as part of their employee benefit package, E-Duction, Inc. will handle all enrollment, payroll administration and customer service on behalf of the employer.

"E-Duction is the best and only product of its kind," said Jim Robinson, founder and general partner at RRE Ventures and a member of the Board of Directors for E-Duction, Inc. "E-Duction allows employers to provide a unique benefit for their employees, with no fees or added administration for the company. By being interest-free, E-Duction lets employees save money on purchases they might otherwise make with a credit card. E-Duction also gives merchants an opportunity to create customer loyalty and increased sales. With all of these advantages, E-Duction truly creates a win-win situation for everyone involved."

E-Duction, Inc.'s patent-pending payroll deduction solution was created in 1997 as a program that allowed hospital employees to purchase uniforms and equipment through a series of deductions from future paychecks. E-Duction Inc., a developer of innovative payment solutions, was founded in 1999, in order to bring the unique employee benefit of payroll deduction to a wider audience of employers, employees, and merchants. More information on E-Duction, Inc. is available at www.E-Duction.com.

For further information on E-Duction, Inc., contact:
Tom McCormick
Fax: 215.542.7090
E-mail: tmccormick@E-Duction.com

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