CheckFree and Wachovia Sign Multi-Year Contract Extension for Fully Outsourced Electronic Billing and Payment Services

CheckFree and Wachovia Sign Multi-Year Contract Extension for
Fully Outsourced Electronic Billing and Payment Services
-- With multi-year strategic relationship in place, CheckFree will support
Wachovia's online banking customers with CheckFree Web platform -- 


ATLANTA, July 7  /PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR)
today announced that it has signed a five-year contract extension with Wachovia
Corporation (NYSE:WB) to provide fully outsourced electronic billing and
payment services to Wachovia's entire online banking customer base.  With this
agreement, Wachovia will leverage CheckFree's high-quality electronic billing
and payment processing capabilities and CheckFree Web, its consumer-centric
user interface, to deliver industry- leading capabilities to Wachovia's online
customers.

While CheckFree today serves a portion of Wachovia's active online bill payment
customers, the financial services organization will eventually migrate all of
its retail and small business customers to the CheckFree Web platform. The
contract includes provisions to ensure mutual success and provides access to
the entire CheckFree infrastructure.  CheckFree's industry-leading services
will allow Wachovia to bring new features to its online customers, including a
single-point bill management interface, faster payments, smart biller setup,
enhanced e-mail notifications and much more.  Consumers will be able to request
greater access to CheckFree e-Bills(SM) from a growing number of national,
regional and local billing companies through Wachovia's Web site.

"Wachovia is among the country's premier financial services companies, and this
expanded partnership will bring their online customers the country's leading
suite of electronic billing and payment capabilities," said Steve Olsen,
executive vice president and general manager of CheckFree's Electronic Commerce
Division.  "We believe Wachovia's leadership will enable our companies to
further extend these services into the mainstream consumer market and to pursue
additional innovations in the electronic financial services industry."

"CheckFree's long track record of innovation, quality and technology leadership
made them the ideal long-term, strategic partner for Wachovia to bring full
electronic billing and payment services to our customers," said Lawrence
Baxter, Wachovia's executive vice president and chief eCommerce officer.  "With
CheckFree we are committed to giving our consumers the convenience and
financial control of viewing and paying bills with an industry-leading
interface through wachovia.com.  In addition, the greater availability of
e-Bills will deliver important content to our online customers, which will
continue to enhance the value the service offers."

About CheckFree ( http://www.checkfreecorp.com/ )

CheckFree (NASDAQ:CKFR) is a provider of financial electronic commerce services
and products. Founded in 1981 and celebrating its 23rd year in e-commerce,
CheckFree is comprised of three divisions: Electronic Commerce, Software, and
Investment Services. CheckFree launched the first fully integrated electronic
billing and payment solution in 1997. In the quarter ended March 31, 2004, more
than 13 million consumers initiated online payments through services offered by
CheckFree's Electronic Commerce division. Electronic billing and payment is
available through more than a thousand financial services organizations,
including banks, brokerage firms, Internet portals and personal financial
management (PFM) software. At these sites, consumers are able to electronically
receive and pay essentially all the bills most common to a U.S. household.
CheckFree delivers 22.5 million e-bills each quarter. CheckFree's Software
division provides solutions through three operating units: CheckFree ACH
Solutions, CheckFree Financial and Compliance Solutions (CFACS), and CheckFree
i-Solutions. CheckFree ACH Solutions provides software and services that are
used to process more than two-thirds of the nation's nine billion Automated
Clearing House payments, while CFACS provides reconciliation, financial
messaging, workflow and compliance software and services to more than 600
organizations in the banking, brokerage, investment management, insurance and
credit card industries, among others. CheckFree i-Solutions is the leading
provider of e-billing and e-statement software and services for both
business-to-consumer and business-to-business applications.

Certain of CheckFree's statements in this press release are not purely
historical, and as such are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or projections
of the future. Forward-looking statements involve risks and uncertainties,
including without limitation, the various risks inherent in CheckFree's
business, and other risks and uncertainties detailed from time to time in
CheckFree's periodic reports filed with the Securities and Exchange Commission,
including CheckFree's Annual Report on Form 10-K for the year ended June 30,
2003 (filed September 15, 2003), Quarterly Report on Form 10-Q for the quarter
ended September 30, 2003 (filed November 13, 2003), Quarterly Report on Form
10-Q for the quarter ended December 31, 2003 (filed February 12, 2004), and
Quarterly Report on Form 10-Q for the quarter ended March 31, 2004 (filed May
14, 2004).  One or more of these factors have affected, and could in the future
affect CheckFree's business and financial results in future periods, and could
cause actual results to differ materially from plans and projections. There can
be no assurance that the forward-looking statements made in this press release
will prove to be accurate, and issuance of such forward-looking statements
should not be regarded as a representation by CheckFree, or any other person,
that the objectives and plans of CheckFree will be achieved. All
forward-looking statements made in this press release are based on information
presently available to management, and CheckFree assumes no obligation to
update any forward-looking statements. 

DATASOURCE: CheckFree Corporation



CONTACT:  Media relations, Judy DeRango Wicks, [phone], or

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Web site:  http://www.checkfreecorp.com/ 

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