E-Duction Builds Strength of Management Team with Chief Information Officer

03/01/01

PHILADELPHIA, PA (March 1, 2001) – E-Duction, Inc., the provider of a new employee payroll deduction benefit is pleased to announce the addition of Timothy R. Myers to its staff of senior managers. Myers joins E-Duction as the company's Chief Information Officer, bringing with him an extensive range of developmental and managerial expertise.

"Tim fulfills a crucial role on the E-Duction management team," said Kirk Watkins, CEO of E-Duction, Inc. "Having seamless integration between business objectives and technical applications is critical, and we are confident that Tim's demonstrated insight and experience will further strengthen E-Duction's service offering."

Myers' comes to E-Duction with a thirteen-year development portfolio, including executive management positions that directly contributed to the explosive growth of the credit card industry in the 90's. Myers' focus and direct industry knowledge was utilized by issuing powerhouses MBNA America and First USA in the areas of IT development as well as card operations. As Vice President of First USA Bank's Internet and Call Center System Development, Myers managed all aspects of technology for the customer service division, directing strategic and tactical systems development and determining the best architectural course for the system based upon the bank's strategic business goals, as well as driving IT objectives for a series of M&A efforts. In a similar role with MBNA America Bank, Myers oversaw operation of Business Development Operations activities for the bank. He led the growth of the marketing and call center technology sectors, resulting in over forty percent growth in marketing affinity and developing affinity campaigns contributing to a ten billion dollar growth in outstandings.

"I am pleased to be part of a growing company with a well-established foundation in the employee benefits marketplace," Myers remarked. "With superior technology and sound strategic objectives, E-Duction has set the right course for delivering a solution that adds real value for employers and employees alike."

Most recently, Myers held the role of Chairman and CEO of ESPCard, Inc., a startup company developing software that enables point-of-sale payment on m-commerce devices as well as all traditional channels of shopping.

E-Duction is a one-of-a-kind financial and budgeting employee benefits program that allows employees to receive up to six months of no-interest purchasing through payroll deduction. The patent-pending payroll deduction solution was created in 1997 to allow hospital employees to purchase uniforms and equipment through a series of deductions from future paychecks. E-Duction, Inc. was founded in 1999, in order to bring the unique employee benefit of payroll deduction to the broad market 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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