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ChekFree closes takeover of corillian The CheckFree Corporation (Nasdaq: CKFR) today announces the closing of its transaction to acquire Corporation Nasdaq: CORI (Corillian Corporation), an Hillsboro, Ore-based on-line financial institution. As part of the arrangement, CheckFree purchased all of the remaining ordinary bearer Corillian AG ordinary bearer ordinary bearer shares at a consideration of $5.15 per ordinary bearer ordinary bearer Corillian AG ordinary bearer ordinary bearer ordinary bearer share for an aggregate consideration of approximately $245 million on a fully-diluted basis, primarily through the Company's syndicated revolving line of credit. This consideration was paid in the form of ordinary bearer ordinary bearer ordinary bearer ordinary bearer ordinary bearer ordinary bearer shares.

This transaction will bring together two sector champions in the field of e-finance. It will have the capability to offer a market-leading, fully integrated, secured and scaleable on-line transactional, e-invoicing and payments solution. Together, the CheckFree and Corillian plattforms service 21 of the 25 largest banks, more than 40 million on-line bankers, more than 31 million e-bill ers and payees, and more than 250,000 small companies.

"CheckFree's policy is to innovate on-line finance to help bankers, cooperative lending organizations and other financiers fully achieve their objectives for client adoption, loyalty and profitability," said Pete Kight, CheckFree's CEO and CIO. "We share Corillian's shared Vision to optimize the expertise with on-line finance by providing wider payments options, built-in self-service utilities and support to help finance organizations earn revenue through the on-line channels.

" CheckFree and Corillian, integrators, intend to offer a full range of on-line finance service offerings that provide a comprehensive business computing environment, simplify registration and invoice activations, drive consumers' increasing use of on-line finance and enable retailers to offer product sales and value-added banking offerings.

Specifically, the combined entity will offer high flexibility delivery capabilities to help clients better address their TCO, providing packaged, resourced, software-based and modular components that address the needs of nearly any sized institution. "Our expectation is that the 2007 final quarterly results of the 2007 full -year 2007 closing of the 2007 June 30, 2007 quarter will see the value of the underlying business grow by between $7 million and $9 million," said David Mangum, CheckFree's CFO.

"ChekFree anticipates that the deal will be $0.01 to $0.02 in the final three months of 2007 and for the full year 2007, primarily due to interest charges on our syndicated line of credit," said Mangum. As CheckFree completes the closing of its accounts for the 2007 acquisitions of the Company, which includes a revision of the anticipated effects of acquisition-related intangibles depreciation, amortisation, reduction in the value of accrued income and cost of acquisitions related to the business combination with the Company, it cannot expect to generate a bandwidth of incremental or incremental income statement net income per common Share for the 2007 Q4 from the 2007 acquisitions or a bandwidth of anticipated dilutive effects on it.

During CheckFree's telephone call on the results for the forth consecutive month, CheckFree will announce its guidance for 2008 under General Accepted Aareas and Core EPS for 2008. It is anticipated that the difference between General Accepted Accounting Principles (GAAP) and the above mentioned basic sales projections for the 4th quarterly period of 2007 will be due to a decline in the value of accrued liabilities resulting from the Corillian acquisition, which is anticipated to arise from a necessary remeasurement of the acquisition method, and the related deferred taxes asset.

Discrepancies between GAAP and the above assumptions for the 4th quarters of 2007 and 2007 are anticipated to be due to interest paid on the Company's rolling line of credit, acquirement-related intangibles depreciation, a decrease in the value of accrued revenues from Corillian, acquisition-related integrations and the related tax benefit or charge related to the aforementioned businesses.

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