SOURCE: PayCycle, Inc.

June 26, 2006 10:00 ET

30,000 Small Businesses Saving Time and Money With Online Payroll From PayCycle

PayCycle Also Wins Coveted Editors' Choice From PC Magazine, Technology Innovation Award From The CPA Technology Advisor and Stevie Award® Finalist Nominations for Best Customer Service Organization and Best New Product

PALO ALTO, CA -- (MARKET WIRE) -- June 26, 2006 -- PayCycle, Inc. (www.paycycle.com), the leader in on-demand payroll, today announced its 30,000th small business customer, an addition of 10,000 customers in the last six months. In addition, the company announced the following milestones:

--  Launched its first private label offering in partnership with one of
    the nation's largest financial institutions.
--  Won the coveted Editors' Choice award from PC Magazine as well as a
    Five-Star Rating.
--  Won the 2006 Tax & Accounting Innovation Award sponsored by The CPA
    Technology Advisor.
--  Achieved Finalist nominations for the 2006 Stevie Awards in the
    categories of Best Customer Service Organization (computer software and
    services) and Best New Product (Accounting).
--  Extended partnership with G7 Productivity Systems, makers of the
    VersaCheck product line, to provide VersaCheck Payroll, a popular retail
    small business payroll product.
--  Established online payroll services with 12 regional banks through
    strategic partnership with Digital Insight, Corp.
--  Opened a second facility in the Chicagoland area.
--  Significantly increased capacity with the addition of two new data
    centers to support anticipated growth.
    
"Our customers and partners recognize PayCycle's unique, Do-It-With-You(SM) approach is superior to any payroll alternative," said Jim Heeger, president and CEO of PayCycle. "It is also gratifying that PayCycle is winning so many prestigious awards. We are honored to receive this recognition."

About PC Magazine Editors' Choice

Editors' Choice at PC Magazine represents the products picked as the best from the hundreds tested in the PC Magazine Labs. PayCycle was awarded an Editors' Choice on May 15, 2006 in this review: http://www.pcmag.com/article2/0,1759,1962506,00.asp.

"PayCycle is the overall best online payroll processing solution, considering its depth and convenience, interface and navigational excellence, and flexibility." Kathy Yakal, PC Magazine, May 15, 2006.

"Our customers requested an easier set-up process and we responded with the tremendously popular 'My Set-Up Wizard', said vice president of product management, Karen White. "This feature has proven to be a run-away hit and was a deciding factor in our win with PC Magazine."

About the 2006 Tax & Accounting Technology Innovation Award

PayCycle is the recipient of The CPA Technology Advisor's 2006 Tax & Accounting Technology Innovation Award. This award recognizes and celebrates the significant accomplishments of companies that are helping tax and accounting professionals meet the challenges of today's marketplace.

"PayCycle has developed a cutting-edge solution that makes client payroll easier and more profitable, and even improves personal client relationships," said Gregory L. LaFollette, CPA.CITP, Executive Editor, The CPA Technology Advisor. "The company's innovative technology is critical to help firms succeed in today's competitive environment."

The PayCycle® Wholesale Program has revolutionized in-house payroll, allowing accounting professionals to build a profitable payroll practice without investing in software or additional staff. The program includes:

--  Live online payroll processing with accurate paycheck calculations,
    free direct deposit, and electronic tax payments and filings;
--  A firm-branded payroll Web site that clients can access to share
    tasks;
--  Toll-free support with payroll experts;
--  Free practice development resources, including practice management
    guides, client setup tools and customized marketing materials; and,
--  Live and recorded training seminars.
    
About The Stevie Award

The Stevie Awards are conferred in three programs: The American Business Awards, The International Business Awards, and The Stevie Awards for Women Entrepreneurs. Honoring companies of all types and sizes and the people behind them, The Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.

About PayCycle

PayCycle is the leader in on-demand payroll, targeting small businesses and the accountants who serve them. PayCycle's mission is to make paper-based payroll obsolete. PayCycle's unique, "Do-It-With-You(SM)" (DIWY(SM)) technology platform guides customers through the entire payroll process from paychecks to W-2's. By integrating with the leading small business accounting packages, including QuickBooks® and Microsoft® Money, PayCycle eliminates the hassle of data re-entry. PayCycle is committed to having the Most Satisfied Customers and is a proud finalist for the 2006 American Business Association's "Stevie" award for "Best Customer Service Organization."

PayCycle is a registered trademark, and "Do-It-With-You" and "DIWY" are service marks of PayCycle, Inc. All other product names and trademarks are the property of their respective owners.

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