For Immediate Release
Monday, January 18, 1999

Contact: Stacy Miles
V-Tek Systems Corporation
909-396-5355; smiles@v-tek.com

Diamond Bar, California --- V-Tek Systems Corporation announced today its acquisition of Seneca Technologies, Inc. a Long Beach, California financial services technology consulting firm.

“Over the past year, V-Tek and Seneca have teamed together on several successful ventures,” said V-Tek President Bernard Abrams. “Both companies wanted to insure a continuation of that synergy.”

Seneca founders Doug Hawks, CEO and Cheri DeBlasio, Executive Vice President, will continue providing consulting services to the student loan industry under the Seneca name, while assuming key management roles at V-Tek. Ms. DeBlasio will take the V-Tek title of Executive Vice President and have primary responsibility for product planning and development. Mr. Hawks will hold the position of Executive Vice President and be in charge of strategic planning and marketing. Both will represent V-Tek at industry events and in capabilities presentations and product demonstrations. Seneca will maintain its corporate offices in Long Beach.

According to Ms. DeBlasio, “Much of our consulting work has revolved around developing user requirements for new systems. In each of those instances, V-Tek was selected by our clients as the system design/development firm. It’s a natural progression for the two companies to merge their disciplines.“

V-Tek sees the acquisition of Seneca as a strategic plus. “Our overall goal is to build upon V-Tek’s and Seneca’s strong business base in the educational finance industry and bring our business and systems expertise to other allied financial services markets,” says Abrams. “Both of Seneca’s principals are adept at locating new opportunities and then defining the business systems necessary to capitalize on them. We are already looking at the possibility of providing Web-based delivery and data interchange systems to the home mortgage industry.”

Seneca Technologies, headquartered in Long Beach, CA, is a specialized consulting company with expertise in Internet delivery systems, user requirements, product research and technology marketing. The company provides its services to higher education, financial institutions and government.

V-Tek Systems Corporation, headquartered in Diamond Bar, CA, is a software development and system integration company with extensive expertise in Web-based business applications, Internet communications, client/server technology, UNIX and NT operating systems and Oracle data base software. V-Tek provides software solutions and services to many of the nation’s largest financial institutions and colleges and universities.