McCamish Systems Announces the Release of Version 2.1 of VPAS® Benefit Plan Administration

ATLANTA--(BUSINESS WIRE)--October 7, 2002--McCamish Systems is pleased to release Version 2.1 of VPAS® Benefit Plan Administration to the non-qualified benefit plan market this Friday, October 11, 2002.

The major features of this release are enhancements to the online enrollment system which enables participants in non-qualified executive benefit plans to enroll remotely using an Internet browser. The most significant enhancement is the integration of additional plan rules that control the election options available to participants throughout the enrollment process.

"McCamish's VPAS® Benefit Plan Administration clients are among the most advanced and sophisticated distributors of executive benefit plans in the country. Since October is traditionally the beginning of enrollment season, the timing of Version 2.1, which offers dynamic capabilities for each plan's unique participant enrollment requirements, is ideal. This release reinforces McCamish Systems' commitment to maintaining its leadership position in the executive benefit non-qualified market," said Edwin Edwards, Product Manager for VPAS® Benefit Plan Administration.

These enhancements guide participants through the enrollment process using an Internet browser. Plan sponsors have the flexibility to define required information based on options selected and participant category. Plan sponsors are also able to communicate plan specific information directly to participants during the enrollment process.

In addition to the expanded enrollment functionality, VPAS® Benefit Plan Administration Version 2.1 expands Internet inquiry and transaction capabilities, as well as participant initiated requests for statements and reports. This release also provides participants with the ability to request statements of account and other reports that are specific to each plan.

McCamish Systems, L.L.C.

McCamish Systems' VPAS® (Variable Product Administration Systems) product family includes VPAS® Life and VPAS® Benefit Plan Administration as client/server based, relational database systems, which are scalable, feature rich and flexible enough to be customized to suit unique client requirements. McCamish provides its solutions in BPO (Business Process Outsourcing), Remote or License environments.

McCamish is currently providing administration solutions for six of the ten largest life insurers in the country and one of the top five banks.

VPAS® Life supports administration of variable and fixed annuities, 403(b) and 457 plans, variable and fixed universal life, private placement products and corporate- and bank-owned life insurance programs (COLI and BOLI). VPAS® Benefit Plan Administration provides record keeping capabilities for SERP, Split Dollar and other non-qualified benefit plans. All VPAS® products are Internet enabled, so that clients, sponsors, brokers, agents and participants have access to policy and plan information.

McCamish Systems is a privately held company based in Atlanta, Georgia. For more information about McCamish Systems, please contact our Sales & Marketing group at Solutions@McCamish.com or call 800-366-0819.

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McCamish Systems is a privately held company based in Atlanta, Georgia. For more information about McCamish Systems, please contact our Sales & Marketing group at Solutions@McCamish.com or call 800.366.0819.