Comerica Incorporated

February 24, 2005 08:00 ET

Comerica Extends Technology in Commercial Lending; Completes Major Loan System Upgrade with AFS


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: COMERICA INCORPORATED

NYSE SYMBOL: CMA

FEBRUARY 24, 2005 - 08:00 ET

Comerica Extends Technology in Commercial Lending;
Completes Major Loan System Upgrade with AFS

EXTON, Pa.--(CCNMatthews - Feb 24, 2005) -

Automated Financial Systems, Inc. (AFS-Exton) announced the successful
migration of commercial lending operations at Detroit, MI-based Comerica
Incorporated (NYSE:CMA) to the newest release of the AFS Level III Loan
Accounting System. Release 8.3 enables Comerica to remain at the
forefront of the industry in its lending technology and provides a solid
foundation for the Bank's future investment in additional automation to
support its strong Middle Market franchise.

"This upgrade reinforces Comerica's leadership position in technology,
innovation, and continuous improvement," said Paul Obermeyer, Senior
Vice President of Comerica's Operations Services Group. "We believe
there is value in staying current with releases to provide superior loan
servicing for our customers, to keep on top of ongoing enhancements, and
to serve as a foundation for planning additional technology investments
in the future."

Release 8.3 positions financial institutions for the total integration
of loan processing, encompassing consumer, business banking, commercial,
and capital markets lines of business on a single system. It represents
a first response to regulatory changes that AFS expects to become
increasingly more rapid and demonstrates the company's commitment to
enhance system capabilities at a pace consistent with market and
compliance dynamics. Currently, 70% of the top 25 U.S. banks are users
of the AFS system.

Said John Shain, President of AFS, "This upgrade solidly establishes
Comerica at the leading edge of lending technology and regulatory
compliance. Comerica is positioned to respond aggressively to future
needs and to support its customers seamlessly with fully integrated
delivery capability and process control. We are pleased to be working
with Comerica in building a lending infrastructure that will provide
long term competitive differentiation in the market."

About Comerica

Comerica Incorporated (NYSE:CMA) is a financial service company
headquartered in Detroit. Comerica's approximately 11,000 employees
focus on relationships, and helping people and businesses be successful.
Comerica Bank locations can be found in Michigan, California, Texas, and
Florida, with select businesses operating in several other states.
Munder Capital Management and Comerica Securities are investment
services affiliates. Comerica reported assets of $52 billion at December
31, 2004 and ranks first among the top 50 U.S. bank holding companies in
commercial loans as a percent of total assets. For further information,
visit Comerica's website at www.comerica.com.

About AFS

AFS is the dominant provider of commercial lending software and services
to U.S. financial institutions, combining the systems, execution
expertise, and management information to mitigate risk, reduce costs,
and increase revenue. The firm is headquartered in Exton, PA; its
European subsidiary, Automated Financial Systems GmbH is located in
Vienna, Austria. For further information, visit AFS' website at
www.afsvision.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Automated Financial Systems, Inc., Exton
    Patricia McFeely, 484-875-1376
    email: pmcfeely@afsvision.com
    or
    Comerica Incorporated, Detroit
    Wayne Mielke, 313-222-4732
    email: wjmielke@comerica.com