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UDW US Dataworks,

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Share Name Share Symbol Market Type
US Dataworks, AMEX:UDW AMEX Ordinary Share
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US Dataworks Signs Contract With Bank of Oklahoma to Deliver Accounts Receivable Conversion (ARC) Solution

23/05/2006 3:00pm

PR Newswire (US)


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HOUSTON, May 23 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (AMEX:UDW), a leading developer of payment processing software, announced today that it has signed a contract with the Bank of Oklahoma, a subsidiary of BOK Financial Corporation, to provide its industry leading Clearingworks(TM) solution. Clearingworks will allow Bank of Oklahoma to offer Accounts Receivable Conversion (ARC) processing services to its lockbox customers, converting paper checks into electronic transactions at both their Tulsa and Oklahoma City operation sites. US Dataworks will begin installing its Clearingworks platform in the second quarter 2006, enabling the Bank of Oklahoma to offer a full complement of conversion services, in addition to ARC, to its customer base. US Dataworks' Clearingworks solution incorporates industry-leading capabilities of MICR parsing, eligibility sorting and return processing. Fees for Clearingworks are charged through a simple, all inclusive per transaction price. Bank of Oklahoma awarded US Dataworks its contract over several vendors and other financial services providers. "US Dataworks is very pleased to have been selected by the Bank of Oklahoma to deliver its Clearingworks platform," said Charles Ramey, chairman and CEO of US Dataworks. "We believe that our Clearingworks platform, with its broad Electronification(SM) capabilities and unique pricing structure, offers companies an edge over other software offerings and we are gratified to see that companies are recognizing its advantages." "We are looking forward to offering top quality check conversion ARC services to our current and future lockbox clients as well as having the ability to offer enhanced Automated Clearing House (ACH) services beyond ARC," said Scott Smith, vice president and manager of Product Management, Bank of Oklahoma. About US Dataworks US Dataworks is a developer of payment processing solutions, focused on the Financial Services market, Federal, State and local governments, billers and retailers. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions that automate end-to-end processes for accepting and clearing checks. For more information, visit the company's website at http://www.usdataworks.com/ . About BOK Financial Corporation BOK FINANCIAL CORPORATION (BOKF) is a $16.3 billion regional financial services company that provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. The Company's stock is publicly traded on NASDAQ under the national market listings (symbol: BOKF). Holdings include Bank of Albuquerque, N.A.; Bank of Arizona, N.A., Bank of Arkansas, N.A.; Bank of Oklahoma, N.A.; Bank of Texas, N.A.; Colorado State Bank and Trust, N.A.; broker-dealer BOSC, Inc., and the TransFund electronic funds network. Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to, the statements regarding the belief that Clearingworks is the industry's leading ARC solution and the enabling of the Bank of Oklahoma to offer a full complement of ACH solutions (which would be dependent on whether the Bank of Oklahoma elects to offer any other ACH services) are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the Company's position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to obtain future financing and other risks detailed from time to time in the SEC reports of US Dataworks, Inc., including its annual report on Form 10-KSB/A for the period ended March 31, 2005 and its quarterly report on Form 10-QSB/A for the period ended December 31, 2005. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements. CONTACTS: John Figone, SVP of Business Development US Dataworks, Inc. (713) 934-3855 Donald C. Weinberger/Alisa Steinberg (media) Wolfe Axelrod Weinberger Assoc. LLC Tel. (212) 370-4500 Fax (212) 370-4505 DATASOURCE: US Dataworks, Inc. CONTACT: John Figone, SVP of Business Development of US Dataworks, Inc., +1-713-934-3855; or media, Donald C. Weinberger or Alisa Steinberg, both of Wolfe Axelrod Weinberger Assoc. LLC, +1-212-370-4500, or fax, +1-212-370-4505, for US Dataworks, Inc. Web site: http://www.usdataworks.com/

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