Automated Benefits Corp.
TSX VENTURE : AUT

Automated Benefits Corp.

August 03, 2006 12:08 ET

Automated Benefits Settles U.S. Lawsuit

Symbility and Xactware agree to dismiss all claims and counterclaims

WATERLOO, ONTARIO--(CCNMatthews - Aug. 3, 2006) - Symbility Solutions Inc. (www.symbilitysolutions.com), a wholly owned subsidiary of Automated Benefits Corp. (TSX VENTURE:AUT), today is pleased to announce the resolution of its lawsuit with Xactware Inc. of Orem, Utah.

Symbility Solutions Inc. and Xactware, Inc. have been engaged in a prolonged lawsuit involving several claims and counterclaims against one another. The two parties have resolved all of their legal disputes with one another and ended the costly litigation so that they can both continue to focus on providing software to the property and casualty insurance market.

About Automated Benefits Corp. and Symbility Solutions

Automated Benefits Corp. (www.autoben.com), headquartered in Toronto, Ontario, is a software company dedicated to developing applications for the insurance industry. The corporation currently has two subsidiaries, Autoben and Symbility.

Symbility Solutions (www.symbilitysolutions.com) has developed a mobile claims system focusing principally on residential and commercial property claims estimation for use by insurance company adjusters and independent contractors. Symbility has offices in Waterloo, Ontario and Montreal, Quebec. Autoben is focused on the employee benefit segment of the life insurance industry. Located in Edmonton, Alberta, Autoben provides claims management software for health and dental plans in addition to insurance products for employer groups. The proprietary software of Autoben, ABI, assists in reducing the cost of employee benefits programs by allowing local adjudication and administration to over 25,000 employees across Canada.

All trade names are the property of their respective owners.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Automated Benefits Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Automated Benefits Corp.

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

Contact Information

  • Automated Benefits Corp.
    James R. Swayze
    President and Chief Executive Officer
    (416) 359-9339.
    or
    Editorial Contacts:
    Nadel Phelan, Inc.
    Heidi Rosenberg
    (831) 440-2405
    Email: heidi@nadelphelan.com
    or
    Symbility Solutions
    Rod Theoret
    (866) 796-2454 ext. 108
    Email: rod@symbility.net