Source Technologies Heads Software Development Team with New V.P.

Charlotte, N.C., April 23, 2004 -Source Technologies, the leading provider of integrated solutions for controlling financial transactions and other secure business processes, announced the selection of Snehal Vashi as vice president of software development. In this role, Vashi holds a position on the company’s executive committee and is responsible for leading all software development strategy and support.

“Source Technologies is challenging itself to shake-up our development approach and successfully expand into new markets,” said Miles Busby, president, Source Technologies. “We needed a leader who could push the innovation envelope and thrive in an entrepreneurial corporate culture.”

Prior to joining Source Technologies, Vashi managed a Morningstar five-star rated fund, Henssier Equity Fund (HEQFX), where he researched and made recommendations for the buying and selling of technology, telecommunications and industrial sector stocks included in the fund. Vashi also recently served as an advisor to the Atlanta Technology Development Center (ATDC) in its Entrepreneur- in-Residence program, where he helped raise institutional capital and leveraged relationships in technology support networks to benefit the ATDC.

Prior to that, Vashi founded two Atlanta-based technology companies, Simtrex Corp., a software simulation provider for the CRM market, and Zebrasoft, Inc. a software provider to the shrink-wrap retail software market. Vashi served as Simtrex’s CTO and led design for Zebrasoft products including Norton Uninstall Deluxe, Guardian Angel and Zipper. Prior to his success as an entrepreneur, Vashi built his credentials by working as a software consultant, engineer, programmer, and project manager for multiple software development companies.

Throughout his career, Vashi has been recognized for excellence in development and received “Product of the Year” awards from PC Magazine, Windows Magazine, and Call Center Magazine.

“My team will lead the charge as Source Technologies expands into new custom kiosk markets and continues to build on the strength of its reputation in the secure printer space,” said Vashi. “Today’s consumer is looking for a faster and more efficient banking experience from their financial institution; growing the already intense entrepreneurial spirit at Source Technologies will help foster progress to that end for the entire industry.”

About Source Technologies
Founded in 1986, Charlotte, N.C.-based Source Technologies provides integrated solutions for controlling financial transactions and other secure business processes within the financial services industry and FORTUNE 1000 companies. Clients include nine of the Top 10 U.S. banks. Source Technologies offers magnetic ink character recognition (MICR) printing solutionsand consumables for on- demand document applications, a family of disbursement software solutions that help organizations securely print, void, or reissue MICR- encoded checks, disbursements, and other transaction-related items, and the ground-breaking concourse™ family of assisted self-service kiosks enabling financial institutions, retailers, and governments to automate in-person business transactions. For more information, visit www.sourcetech.com