InvoiceLink Inks Agreement with Wachovia.

GREENSBORO, N.C., Sept. 7 /PRNewswire/ -- InvoiceLink Corporation has signed an agreement with Wachovia Corporate Services Inc. to provide electronic bill presentment and bill payment solutions for Wachovia corporate customers. The service will bring together Wachovia's cash management expertise with InvoiceLink's advanced technology.

"To have our product selected by a corporation like Wachovia is quite prestigious, but more important, it validates that the billing strategy provided through InvoiceLink is positioned to lead the EBPP revolution," said R. Alan Neely, president and chief executive officer of InvoiceLink Corporation. "Wachovia's consultative approach in the corporate market will provide billers with an expert adviser in sorting through the cash management issues surrounding the various electronic bill presentment and payment models. We look forward to a long-term working relationship with Wachovia and welcome the opportunity to work together in delivering the right EBPP solutions for its client base."

InvoiceLink Corporation has pioneered a method for secure, Internet-based bill presentation and payment. The patent-pending application software places control in the hands of the biller, with payments handled by the biller's bank.

"InvoiceLink's innovative advancements in EBPP technology target bill distribution through Web portals and home banking sites. This is an exciting development in the EBPP market," said Douglas G. Hartsema, manager of Wachovia's Treasury Services Group. "Aligning InvoiceLink's electronic billing technology with Wachovia's cash management services such as online credit card authorization, ACH payment processing and lockbox services will provide billers a comprehensive electronic accounts receivable solution.

"Wachovia will work with InvoiceLink and our customers to introduce the electronic billing model to the customer's environment as a complement to the overall collection process."

InvoiceLink Corporation was founded in 1997 and is based in Greensboro, N.C. The company specializes in the delivery and support of application software for the rapidly emerging e-commerce and customer communications market. InvoiceLink products enable a company to remove paper from the billing process and communicate directly with its customers electronically with no third-party involvement. Customers receive bill notifications via e-mail that is linked to the billers secured Internet Web site. The company also provides innovative technologies for linking biller sites directly to Internet/banking portals. The company's patent-pending products allow a biller's customer to modify payment amounts, timing of payments and the source of payment (checking, savings or credit card).

Wachovia Corporation (NYSE: WB) is a leading bank holding company with Wachovia Bank, N.A. its principal subsidiary. At June 30, 1999, Wachovia had $67 billion in assets and ranked 16th among U.S. banking firms. Wachovia Bank, N.A. has more than 700 offices and 1,300 ATMs in Florida, Georgia, North Carolina, South Carolina and Virginia. Wachovia is a leading corporate bank, offering a broad range of credit, specialized finance, capital markets, investment and processing services tailored to meet the needs of companies of all sizes.