Creditek Strategic Investors

Creditek is proud to have Parthenon Capital and General Atlantic
Partners LLC as its strategic investors.  Read about them here and link to their Web sites to learn more.

Parthenon Capital is a Boston-based private equity firm with $850 million of capital under management. The firm assists companies to grow and attain their Full Potential™ by serving as an active partner that provides: 1) private capital for growth, liquidity, and acquisitions; 2) financial expertise; and 3) strategic consulting and infrastructure support. With a staff of 32, Parthenon Capital professionals share a background of successful operations, strategic consulting and private equity investing. The Parthenon Group, a 175-person strategic consulting organization, supports the firm and has offices in Boston, San Francisco and London. See www.parthenoncapital.com and www.parthenon.com.

FOR IMMEDIATE RELEASE:

PARSIPPANY, NJ—May 14, 2001—Creditek LLC, the leader in Order-to-Cash Cycle Outsourcing and Enterprise Receivables Management, has completed a $30 million investment from General Atlantic Partners LLC, the world’s largest private equity firm with an exclusive focus on investing in information technology and telecommunications businesses globally. The new investment will provide Creditek with additional capital to fund its growth strategy.

The funds will be used to complete Creditek’s technology and operating infrastructure, and service offerings for the rapidly growing order-to-cash cycle segment of the global Business Process Outsourcing marketplace. Creditek serves Fortune 1000 class clients, and has been the US leader in receivables management outsourcing since its founding in 1982. From its base in the U.S., Creditek is rapidly expanding its international activities with clients in Europe and Latin America. Creditek attributes its competitive success to its focus on quality, and its continuous development of a proprietary knowledge base, best practices, and leading edge technology.

"We are very fortunate to have General Atlantic Partners as a major investor and partner in our growth," said John M. Metzger, CEO and Chairman of Creditek. "They share our judgment that the Business Process Outsourcing marketplace is a major growth market and that we are poised to expand our offerings and extend our leadership globally. In addition to providing growth capital, General Atlantic’s expertise in technology, international markets and high growth marketplaces will be very important to Creditek as we continue to accelerate our growth." Metzger continued, "I am pleased to welcome, Mark Dzialga and Cliff Robbins, Partners with General Atlantic Partners, to the Creditek Board of Directors. As we build our global business, their counsel will be invaluable to us."

"General Atlantic Partners joins Parthenon Capital as a major equity investor in Creditek," added John Metzger. "I am pleased that two strategic investors with compatible philosophies and extensive resources are fully accessible to our management team."

Mark Dzialga, Partner with General Atlantic Partners, said, "Creditek is well recognized as the industry leader in providing accounts receivable outsourcing services. As process outsourcing in the finance and accounting area continues to emerge as an important alternative for large companies, we expect Creditek to play a significant role in addressing the opportunity."

Creditek LLC is the industry leader in Order-to-Cash Cycle Outsourcing and Enterprise Receivables Management, and has generated billions of dollars of incremental cash flow for Fortune 1000 clients across a range of industries since its founding in 1982. Creditek has offices nationwide, and operations in Latin America and Europe, and shortly expects to enter the Asian market. Major companies turn to Creditek to optimize order-to-cash cycle performance, accelerate cash flow and improve working capital, while freeing up staff resources with flexible programs. Creditek will be announcing its new, Web-enabled systems capabilities, Creditek· Power™, at NACM’s 105^th Credit Congress in Seattle, May 20-23. See www.creditek.com.

General Atlantic Partners LLC focuses exclusively on investing in information technology and telecommunications businesses globally. The firm was founded in 1980 and has approximately $4 billion in capital available for investment. General Atlantic has invested in nearly 100 companies and has current holdings in nearly 70 companies including abaxx, Apollis, digiquant, E*TRADE Group, Inc., Eclipsys, Exact, EXE Technologies, Exult, Firepond, iDNS, iFormation Group, Manugistics, Phonetic Systems, Predictive Systems, ProBusiness, Rebus, Screaming Media, SESA, Upromise, Xchanging and Zagat. The firm is unique in its global perspective on information technology, its worldwide presence, its long-term approach to investments, and its commitment to provide sustained strategic assistance for its portfolio companies. General Atlantic has 75 professionals among its over 100 employees worldwide. It has offices in Greenwich, New York, Reston, London, Düsseldorf, Singapore, Tokyo, Hong Kong and São Paulo. See www.gapartners.com.

Parthenon Capital is a Boston-based private equity firm with $850 million of capital under management. The firm assists companies to grow and attain their Full Potential™ by serving as an active partner that provides: 1) private capital for growth, liquidity, and acquisitions; 2) financial expertise; and 3) strategic consulting and infrastructure support. With a staff of 32, Parthenon Capital professionals share a background of successful operations, strategic consulting and private equity investing. The Parthenon Group, a 175-person strategic consulting organization, supports the firm and has offices in Boston, San Francisco and London. See www.parthenoncapital.com and www.parthenon.com.

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FOR IMMEDIATE RELEASE

Parsippany, NJ May 1, 2001 Creditek, LLC announced today that its subsidiary, Leib and Company, has been renamed Creditek Recovery Solutions, Inc., to clearly communicate its association with Creditek and its line of business. Creditek acquired Leib in May 2000 because of its reputation for excellent client service and expertise in commercial collections management, particularly for the managed care, insurance and banking industries. Creditek Recovery Solutions (CRS) complements Creditek’s core business, Enterprise Receivables Management.

"Creditek Recovery Solutions understands the pressures on both managed care and insurance companies, and has the solutions to recover precious cash," said John Metzger, CEO and Chairman of Creditek. "Similarly, CRS has been successfully serving bank adjustment departments to prevent expensive write-offs. While CRS will continue to serve multiple industries, its focus will be on meeting the full Enterprise Receivables Management needs of these three major industries."

"Our new name tells our customers right away what we do and that we are part of Creditek’s international organization," said Bob Leib, President of Creditek Recovery Solutions. "We expect that this association will open even more doors for us so we can continue the excellent growth records we’ve established over the years. We also want our clients to know that this is just a name change and our focus on quality, professionalism, and delivery of results for their benefit remains."

Creditek, LLC, and its subsidiaries are the industry leaders in Enterprise Receivables Management and have generated billions of dollars of incremental cash flow for their Fortune 1000 and mid-sized clients in all industries. Creditek has offices nationwide, and operations in Central America and Europe to fully serve its multi-national clients needs. Clients turn to Creditek and its subsidiaries to optimize receivables performance, accelerate cash flow and working capital, and free-up staff resources with flexible, self-funding programs.