Business Process Outsourcing Leader Creditek Appoints
Corey V. Torrence as Chief Executive Officer

      Parsippany, NJ, January 9, 2002 – Creditek LLC, the leading provider of finance and accounting outsourcing services to Fortune 500 companies, announced today the appointment of Corey V. Torrence as President and Chief Executive Officer. Mr. Torrence will succeed John Metzger, the Founder of Creditek, who will continue as Chairman. Mr. Torrence was formerly the CEO of Epsilon Data Management, a leading provider of outsourced marketing services. Mr. Torrence brings to Creditek over 20 years of experience in managing large information technology and outsourcing businesses for Logica plc, AT&T Solutions, SHL Systemhouse and Accenture.

Founder and Chairman John Metzger and the Creditek Board of Directors sought a candidate with a combination of senior level experience in information technology and large-scale process outsourcing, as well as demonstrated entrepreneurial success. “Over the past few years, clients increasingly have been seeking a comprehensive process outsourcing solution that encompasses people, process and technology across the many functions of the revenue cycle,” said John Metzger. “Corey has a proven record in building organizations that can deliver the increasingly complex and innovative outsourcing services required by our clients. Corey’s vision will strengthen Creditek’s leadership in this rapidly growing segment of the business process outsourcing (“BPO”) market,” said John Metzger.

Mark Dzialga, a board member of Creditek and a Partner of General Atlantic Partners, an investor in Creditek along with Parthenon Capital, said, “The trend toward the outsourcing of the back-office of Fortune 500 companies continues to accelerate. The ability to technology-enable revenue cycle and finance and accounting processes is creating very compelling economics for large companies.” Ernest K. Jacquet, a board member of Creditek and a Managing Partner of Parthenon Capital, said,  “Corey’s background in technology and managing large outsourcing contracts uniquely qualifies him to guide Creditek’s development as it further pursues large BPO contracts.”

During the past decade, Mr. Torrence has led several prominent technology services and business process outsourcing businesses through periods of rapid growth in revenue and profitability. During his tenure as CEO of Epsilon, Mr. Torrence was responsible for successfully transitioning the Company from a software developer to a provider of complete, outsourced marketing services for Fortune 500 Companies. In late 2001, Mr. Torrence oversaw the sale of Epsilon to the Relizon Company, creating a $1 billion outsourced business communications and customer relationship management leader. Prior to joining Epsilon, Mr. Torrence served as CEO and President of Logica North America. During Mr. Torrence’s tenure at Logica, revenues increased by 50% with profitability growing even faster. Mr. Torrence was a member of the Global Consulting Board and the Executive Committee of Logica plc. During Corey’s tenure as a Vice President at SHL Systemhouse, he delivered rapid growth in revenue and service offerings in the Company’s Northeast region. Mr. Torrence’s 20 year career also includes serving as a Partner at McKinsey & Company and a Managing Director of The Information Consulting Group.

“The opportunity at Creditek was immediately obvious to me. There is incredible potential for companies to save money and become more efficient by outsourcing the complex, yet non-differentiable finance and accounting processes. Creditek has distinguished itself by recognizing this opportunity in 1982 and has provided dramatic cost and efficiency gains to its clients for nearly 20 years. The Company’s expertise and long-standing client relationships provide the perfect platform to build a market leading finance and accounting outsourcing company with capabilities across the finance function,” said Torrence.

Rebecca Scholl, Senior Analyst, Business Process Outsourcing with Gartner, Inc., says, “The finance and accounting outsourcing market is growing rapidly and potential demand is enormous. When deciding to outsource control of their business processes, users’ foremost criteria in selecting a BPO provider are proven experience and technical ability to deliver innovation.”

 About Creditek, LLC

Creditek was founded in 1982 to provide revenue cycle management to companies in the packaged consumer goods industry with deductions and revenue dilution difficulties. Creditek has grown rapidly since inception, becoming the order-to-cash and revenue cycle outsourcing leader. The Company manages tens of billions of dollars in sales annually for Fortune 500 corporations in the manufacturing, consumer goods, distribution, technology, services, and pharmaceutical industries in North America, Europe and Latin America. In 1999, Creditek received an investment from Parthenon Capital and a subsequent investment from General Atlantic Partners in 2001. Subsidiaries include Creditek MediFinancial, which provides revenue cycle management for health care providers and Smyth Corporate Staffing, providing recruiting and project staff support in the areas of finance, accounting, credit, and collections.  For additional information, visit Creditek on the Web at www.creditek.com.

 About General Atlantic Partners

 General Atlantic Partners, LLC, is the world’s leading private equity investment firm focused exclusively on investing in information technology and communications businesses globally. The firm was founded in 1980 and has over $4 billion in committed capital. General Atlantic has invested in over 120 companies and has current holdings in over 60 companies, of which almost one-third are based outside the United States and which include Critical Path, E*TRADE Group, Inc., Eclipsys, Exact, EXE Technologies, Exult, Firepond, iFormation Group, Manugistics, Predictive Systems, ProBusiness, Rebus, Screaming Media, SESA, Upromise, Xchanging and Zagat. The firm is distinguished within the investment community by its deep experience and expertise in information technology, its global perspective and worldwide presence, its long-term approach to investments, and its commitment to provide sustained strategic assistance for its portfolio companies. General Atlantic has about 70 professionals among its 130 employees worldwide with offices in Greenwich, New York, Palo Alto, Reston, London, Düsseldorf, Singapore, Tokyo, Hong Kong, and São Paulo. See www.gapartners.com for additional information.

 About Parthenon Capital

 Parthenon Capital is a private equity partnership focused on providing capital and strategic resources to middle market companies.  The firm partners with owners and managers and builds value by providing growth capital plus strategic and operating expertise to enable the company to reach its Full Potential ^TM.

Recently, Parthenon Capital closed its second fund at $750 million making their total capital under management in excess of $1.1 billion.  With headquarters in Boston, Massachusetts, and a west coast office in San Francisco, California, the professionals at Parthenon Capital have a proven track record of over 30 years experience building value in middle market companies.  Parthenon Capital’s areas of expertise include the Information/Publishing industry, Consumer Products, Business Services and Healthcare.

Creditek LLC Extends Its Outsourcing Services to Mexico

PARSIPPANY, NJ—October 1, 2001—Creditek LLC is proud to announce that it has opened Creditek de Mexico to provide accounts receivable, collection and deduction outsourcing in Mexico. Creditek de Mexico will also collect cross-border trade transactions for U.S. and Mexican companies.

"Our U.S. clients conduct significant trade with Mexico and have major operations there. We see an important opportunity to serve them in this critical, quickly developing market," said John Metzger, Chairman of Creditek. "We wanted to find just the right executive as the Managing Director. Under Fernando Casares’ leadership, we will be able to provide a professional, turnkey service to meet the in-country and cross-border requirements of major companies with the same standards and results as in the U.S."

Fernando Casares added, "I am very pleased to be teaming up with the U.S. leader in revenue cycle outsourcing. We are making available in Mexico the best practices and technology from Creditek, and adding to it deep local market knowledge. As a result, Creditek de Mexico can take total local accountability for a turnkey solution – for the whole enterprise or for a tactical project to clear a backlog."

Casares continued, "As we speak with key executives of local and foreign companies throughout the Mexican economy, we find that we are meeting a major void."

Casares, the Managing Director of Creditek de Mexico, has nearly 20 years of experience in credit and accounts receivable management, including cross-border and domestic transactions, risk management and work outs of troubled portfolios. He has served in senior positions at the Specialized Banking Division of Bancomer, as Chief Credit Officer for Banco de Pequeño Comercio, and most recently as the Country Manager for Transamerica Finance. He has managed A/R of $500 million and has consulted for many Fortune 1000 and smaller companies.

Creditek de Mexico is located in Mexico City, and can serve all of Mexico and Central America. It is expected that U.S. and Mexican exporters, as well as U.S. subsidiaries in Mexico, will be the first to take advantage of its state-of-the art services.

In the U.S., Creditek LLC is a revenue cycle outsourcing leader, delivering complete accounts receivable, collections, customer-claims, and deduction management services. Other services include revenue cycle consulting, and tactical project teams to cure short-term needs. Creditek serves large companies in all sectors. Benefits to clients include reduced net operating costs, accelerated cash flow, and additional profit from reduced revenue dilution.

Creditek is also opening operations in Europe and is prepared to fully meet the revenue cycle needs of its global clients.

Information about Creditek de Mexico services may be obtained by calling Richard Lander at 1-800-216-4000 or by email at mexico@creditek.com.

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.

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.

CREDITEK LLC CONCLUDES $30 MILLION INVESTMENT FROM

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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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.