ATLANTA, March 23 /PRNewswire-FirstCall/ -- CheckFree Software, a business of CheckFree Corporation , today announced that People's Bank has selected CheckFree Frontier(TM), an enterprise-wide, scalable reconciliation solution. People's Bank, one of Connecticut's largest independent banks, will use the software platform to automate and standardize reconciliations to deliver greater operational efficiency, speed transaction settlement, increase financial control, mitigate risk and reduce costs.

With more than 150 branches and 240 ATMs throughout Connecticut, People's Bank is a diversified financial services company providing commercial, consumer, insurance, trust and investment services. People's Bank will leverage CheckFree Frontier to manage reconciliations from a single hub for bank-wide reconciliation processing. The bank plans to initially deploy Frontier for its Federal Reserve Bank Processing, Correspondent Bank Processing (Due To/Due From Accounts) and ATM Accounts. CheckFree Frontier will automate process monitoring, exception workflow and resolution by consolidating the bank's current mainframe systems onto one enterprise-wide solution.

"People's Bank has been on the cutting edge of banking concepts and customer service for decades," said Randy McCoy, executive vice president and general manager of CheckFree Software. "Diversified banking firms, such as People's Bank, require centralized, enterprise solutions that standardize reconciliation management and business processes across operations. This standardization gives customers an elevated view of information to improve risk management and ensure efficient processes, which aligns with key business and banking strategies."

About People's Bank

Founded in 1842, People's Bank (peoples.com) is one of Connecticut's largest banks with assets of $11 billion, more than 240 ATMs and 154 branches, 67 of which offer convenient seven-day banking in Super Stop & Shop locations across the state. A diversified financial services company, People's Bank provides consumer, commercial, insurance, retail investment and trust services to personal and business banking customers. For more information about People's, its products and services, please call 800-772-1090, visit peoples.com or any of People's branches.

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

Founded in 1981, CheckFree Corporation provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage more than $1 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two-thirds of the 10 billion Automated Clearing House transactions in the United States. The division also provides reconciliation, financial messaging, compliance and electronic billing and statement software to hundreds of organizations across the globe.

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, 2004 (filed September 3, 2004), Form 10-Q for the quarter ended September 30, 2004 (filed November 9, 2004) and Form 10-Q for the quarter ended December 31, 2004 (filed February 8, 2005). 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.

CONTACT: Media, Judy DeRango Wicks, +1-678-375-1595, or
jdwicks@checkfree.com , or Investors, Tina Moore, +1-678-375-1278, or
tmoore@checkfree.com , both of CheckFree Corporation

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