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Guard-IT Offers New, Paperless Escrow Account Management Services

AUSTIN, TEXAS (May 22, 2002) – Guard-IT Corporation, a leader and innovator in software escrow services, has enhanced its client services by adding online functionality to create paperless account maintenance. Guard-IT's clients can now set up new escrow agreements, update their contact information, upload updates to their deposit materials and enroll new licensees to their escrow account via Guard-IT's exclusive Online Service Center ("OSC") .

Guard-IT's OSC is the first of its kind in providing comprehensive, online escrow account maintenance. The OSC eliminates paper submissions of standard escrow forms and the client's need to maintain copies of supplemental exhibits to their escrow agreements.

"With the OSC, our clients can update their information or add a new licensee as a beneficiary to their account at any time, without printing and mailing paper forms. We maintain the account records for the client and absorb a big part of the administrative burden," said Jim Ford, Guard-IT's founder and CEO. "All of the forms previously needed to maintain software escrow are now just a bookmark in our clients' web browsers," Ford added.

New York-based Caminus Corporation (www.caminus.com), NASDAQ: CAMZ), a recent addition to Guard-IT's growing list of clients, was an early adopter of Guard-IT's OSC. Caminus develops a suite of software for gas, energy and pipeline companies in the U.S., Canada and Europe, and maintains multiple licensees to each of its software products.

"Guard-IT's online beneficiary enrollment form has proven to be the most effective way for submitting and keeping track of new beneficiaries," said Samantha Kahn, product distribution coordinator for Caminus. "It is especially useful when a new beneficiary needs to be enrolled at the last minute; it helps us avoid all of the unnecessary paperwork. We have found the online enrollment to be one of the many perks that Guard-IT offers."

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