Automated Benefits Corp.

Automated Benefits Corp.

June 18, 2009 08:00 ET

Automated Benefits Corp. Elects New Members to Board of Directors

Voting results of annual and special meeting of shareholders also disclosed

TORONTO, ONTARIO--(Marketwire - June 18, 2009) - Automated Benefits Corp. (the "Corporation") (TSX VENTURE:AUT) is pleased to announce the addition of three esteemed members to its board of directors. R. Larry Binnion, Robert Landry and Timothy Stanley were elected to the board effective June 11, 2009.

Mr. Larry Binnion is chairman and director of Versa Systems Inc., a computer software company focused on the e-government market. Mr. Binnion raised the funding to acquire Versa and led the management buy-out of the company from KPMG LLP. During his 25 year career as a partner with KPMG, Mr. Binnion undertook a wide variety of senior assignments managing large computer projects and information systems organizations including roles as a vice president information technology for a large multi-national insurance and health benefits provider and managing partner of a computer outsourcing company with experience in government, financial services, health care, distribution, construction, hospitality, and services organizations. Mr. Binnion is a chartered accountant and has completed the University of Western Ontario's management training course.

Mr. Robert Landry is the former president and CEO of the Canadian branch of Zurich Insurance Company, a leading worldwide financial institution with Canadian revenues in excess of one billion dollars, retiring at the end of 2007. During his tenure as CEO, revenues doubled and the company was returned to solid profitability; he currently serves as chair of the Zurich Advisory Board. Mr. Landry was a director of the Insurance Institute of Canada (IIC) from 2006 to 2008 and acted as its chair in 2007; IIC is the professional education arm of the general insurance industry in Canada representing over 35,000 members. Mr. Landry also served as a cabinet member of the United Way of Greater Toronto in 2005 and 2006 and is currently co-chairing an all property and casualty insurance industry fundraiser in concert with the Canadian Cancer Society's Relay for Life. He holds the Fellow, Chartered Insurance Professional diploma from the Insurance Institute of Canada and in early 2009 received his ICD.D designation from the Institute of Corporate Directors.

Mr. Timothy Stanley is president and founder of Broadstreet Data Solutions Inc., a Toronto- based IT consulting firm that specializes in complex data integration and business intelligence system; he is also the founder and CEO of Saas Street, a consulting company that provides Netsuite and cloud integration services. Prior to founding these firms, Mr. Stanley co-founded Vanity Software, which he sold to Proformix Systems, and subsequently held leadership roles at Informatica Canada, Brio Technology and Absolute Software. Mr. Stanley holds an MBA from the Ivey School of Business from the University of Western Ontario.

"The management and board of Automated Benefits Corp. are thrilled to have attracted new board members the caliber of Messrs. Binnion, Landry and Stanley," states James Swayze, president and CEO, Automated Benefits Corp. "These gentlemen bring a wealth of knowledge and experience related to software sales and execution in the insurance industry and the board is already benefitting from their insights and connections to our target market."

The Corporation also announces the voting results of the Annual and Special Meeting of Shareholders of the Corporation held on June 11, 2009. The Corporation hereby advises of the following voting results obtained at this meeting:

- The election of the following persons, being nominees proposed by the management of the Corporation, as directors of the Corporation: James R. Swayze, G. Scott Paterson, Robert W. Tretiak, Alan Ryder, R. Larry Binnion, Robert Landry and Timothy Stanley. On a show of hands, the resolution was carried.

- The reappointment of Ernst & Young LLP, Chartered Accountants, as auditors of the Corporation for the ensuing year and the authorization of the directors to fix their remuneration. On a show of hands, the resolution was carried.

- The resolution, in the form included in the Management Information Circular, amending and restating the Corporation's stock option plan. On a show of hands, the resolution was carried.

- The resolution, in the form included in the Management Information Circular, approving the extension of the term of the stock options held by James R. Swayze. The resolution was carried by ballot.

50,000 options were granted to each of the six independent and non-management directors in accordance with the Corporation's stock option plan. All options noted above will vest in three equal tranches with one-third vesting immediately, one-third vesting in 12 months, and one-third vesting in 24 months, at an exercise price of $0.185. The granting of the stock options is subject to regulatory approval.

For more information on Automated Benefits Corp., visit

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.

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