|
ECHO
Press Releases 2004
FOR IMMEDIATE RELEASE
Electronic
Clearing House Appoints
Richard Field as Board Member
Camarillo, Calif., July 14, 2004 -
Electronic Clearing House, Inc. (Nasdaq: ECHO), a leading provider of electronic
payment and transaction processing services, today
announced that Richard Field has been appointed a member of the Board of
Directors.
Mr. Field brings to ECHO more
than 35 years of experience in the financial services industry as an
executive for The Bank of New York, Chase and Citigroup. In 1997,
Mr. Field retired from The Bank of New York ("BONY"),
where he had created a centralized marketing division and worked his
way up over 19 years to Executive Vice President in charge of Retail
Banking, subsequently joining BONY's Management Committee as Senior
Executive Vice President. During his tenure at BONY, the Bank grew
from a mid-sized regional player to one of the nation's premier
performers in terms of earnings growth, market capitalization and
expense efficiency. Under Mr. Field's direction, BONY's branch
network expanded to become the largest in suburban New York.
Since retiring, Mr. Field was a
founding director of LendingTree, an innovative and successful
lending and realty services exchange, which allows consumers to
receive competitive loan offers over the Internet. In addition, in
2002, Mr. Field joined the boards of Providian Financial Corporation
and HSPC, the latter of which was sold to General Electric in
January of 2004.
Joel M. Barry, Chairman and CEO of
Electronic Clearing House, Inc., commented, "We are extremely
happy that Dick has agreed to join our Board. While at The Bank of
New York, Dick engineered the growth of its formerly modest credit
card subsidiary into one of the top ten issuers in the U.S. and was
subsequently elected to MasterCard's Executive Committee and
Chairman of its U.S. board. We believe he will be of immense value
in our effort to grow and increase the profitability of our credit
card and check processing businesses."
Mr. Field said, "This is an
exciting time for ECHO as it builds its check services
business. ECHO has developed a portfolio of innovative
products and technology, which provide a great value proposition to
merchants and banks. I look forward to contributing to the
development of the Company's marketing strategy to help build ECHO
into a leading check and credit card processor."
About Electronic Clearing House, Inc.
(ECHO)
ECHO (www.echo-inc.com)
provides a complete solution to the payment processing needs of
merchants, banks and collection agencies. ECHO's services
include debit and credit card processing, check guarantee, check
verification, check conversion, check re-presentment, and check
collection.
Safe Harbor Statement Under the
Private Securities Litigation Reform Act of 1995: Any statements set
forth above that are not historical facts are forward-looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to, such factors as fluctuations in
demand for the Company's products and services, the introduction of
new products and services, the Company's ability to maintain
customer and strategic business relationships, technological
advancements, impact of competitive products and services and
pricing, growth in targeted markets, the adequacy of the Company's
liquidity and financial strength to support its growth, and other
information detailed from time to time in the Company's filings with
the United States Securities and Exchange Commission.
Contact:
Electronic Clearing House, Inc.
Donna Rehman, 805-419-8533
corp@ECHO-inc.com
http://www.echo-inc.com
or
Coffin Communications Group
Crocker Coulson, 818-789-0100
crocker.coulson@coffincg.com
|
|
