Automated Benefits Corp.
TSX VENTURE : AUT

Automated Benefits Corp.

April 03, 2009 15:14 ET

Automated Benefits Corp. Announces Chief Technology Officer

The corporation announces stock options and shares

TORONTO, ONTARIO--(Marketwire - April 3, 2009) - Automated Benefits Corp. (TSX VENTURE:AUT), is pleased to announce that Marc-Olivier Huynh will be assuming the role of Chief Technology Officer for the Corporation.

Since founding Symbility Solutions, a wholly owned subsidiary of Automated Benefits Corp., Mr. Huynh has led the Symbility development team and driven the product advancements instrumental to the company's success. Mr. Huynh will now direct the development efforts of both Symbility Solutions and Automated Benefits Inc. whose product, Adjudicare, supports the payment of health and dental claims. The appointment of Mr. Huynh as CTO of the Corporation is part of the continued effort to share resources between the subsidiaries and provide the operating divisions access to a wider pool of talent.

Commensurate with his appointment as Chief Technology Officer, Automated Benefits Corp. will issue Mr. Huynh 200,000 stock options effective February 13, 2009. Concurrent with this issue, 50,000 options will also be issued to each of the four non-management directors in accordance with the Corporation's stock option plan. The options will vest in three equal tranches with one-third vesting immediately, one-third vesting in twelve months, and one-third vesting in twenty-four months, at an exercise price of $0.12. The granting of the stock options is subject to regulatory approval.

Additionally, 204,167 Common Shares, with a deemed value of $0.12 per share for an aggregate value of $24,500, were issued to the non-management directors of Automated Benefits Corp. for services provided to the Corporation during 2008. Pursuant to the Corporation's current policy, each non-management director receives $5,000 per annum, and an additional $1,500 per annum is payable to the chairman of each of the Corporation's Board of Directors, Compensation Committee and the Audit Committee, which the non-management directors agreed to receive in common shares. The issuance of the 204,167 Common Shares to the non-management directors was approved by the TSX Venture Exchange on April 3, 2009.

For more information on Automated Benefits Corp., visit www.automatedbenefits.com or call 1.877.944.7100.

About Automated Benefits Corp.

Automated Benefits Corp., headquartered in Toronto, Ontario, is a software company dedicated to developing applications for the insurance industry. The corporation currently has two subsidiaries, Automated Benefits Inc. and Symbility Solutions Inc.

Symbility Solutions, based in Toronto, Ontario, automates property insurance claims through its two complementary components. Its award-winning mobile claims solution is an estimating tool that increases speed, efficiency and accuracy by allowing on-site claims processing. Symbility.NET is the collaborative workflow management tool that gives every claim participant real-time access to the claims they are working on. The Symbility solution gives users the mobility, speed and control they need to effectively and quickly move onto their next claim.

Automated Benefits Inc. provides the Adjudicare software solution for the adjudication of health and dental claims. This software adjudicates claims in real time, providing clients with the highest level of flexibility available along with complete disclosure on the plan's financial performance. Automated Benefits Inc. enables their clients to provide an additional level of value-added service in a very cost effective manner. The Adjudicare software supports the adjudication of health and dental claims through local insurance brokers across Canada.

All trade names are the property of their respective owners.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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