Media Releases - 2002 - SurePayroll Acquires Virtual Payroll Customer Base

SurePayroll Acquires Virtual Payroll Customer Base

Combination brings next-generation payroll service to Virtual Payroll customers

CHICAGO — April 8, 2002 — Continuing to strengthen its leadership position in the online payroll marketplace, SurePayroll today announced that it has acquired the customer base of privately held Virtual Payroll, a Florida-based pioneer in the online payroll industry. Under the agreement, the Virtual Payroll customer base will automatically and seamlessly be transitioned to SurePayroll's service. Financial terms of the agreement were not disclosed. "This transaction is consistent with our mission to become the leading provider of online payroll services," said Michael Alter, Senior Vice President of SurePayroll. "We have long respected the pioneering work that Virtual Payroll has done in the online payroll space, and, today, we welcome its customers into the SurePayroll family." "SurePayroll has led the market in creating an online payroll service that saves small businesses time and money, and gives them a level of control that has not been available in traditional payroll outsourcing solutions." said Rey Monzon, President of Virtual Payroll. "We believe our clients will be very satisfied with SurePayroll." About SurePayroll: Founded in 1999, SurePayroll provides a simple, convenient, reliable and economical way for small businesses to process and distribute payroll and taxes in minutes via the Internet. The Company's Internet-based payroll service automates the entire payroll process, completely eliminating the traditional processing steps that conventional payroll services providers use. Using Surepayroll, small businesses and their employees can initiate and access their payroll from anywhere, at any time. By leveraging the Internet, payroll is completed in a fraction of the time, at a fraction of the cost. SurePayroll is a privately held company based in Skokie, IL. SurePayroll's customer base number in the thousands and has payroll customers in all 50 states. In addition to providing payroll services directly to small business, SurePayroll also provides a private label payroll service that is used by numerous accounting firms and community banks. SurePayroll's business partners include Wells Fargo and ABN AMRO. For More Information About SurePayroll: Michael Alter SurePayroll 847-676-8420, ext 7229 michael.alter@surepayroll.com

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