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ECHO
Press Releases 2004
FOR IMMEDIATE RELEASE
Electronic
Clearing House
Comments on Patent Infringement Suit
Camarillo, Calif., July 19, 2004 -
Electronic Clearing House, Inc. (Nasdaq: ECHO), a
leading provider of electronic payment and transaction processing
services, commented earlier today on the patent infringement suit filed in
the U.S. District Court for the District of Delaware by LML Patent Corp.
("LML"), a wholly owned subsidiary of LML Payment Systems, Inc.
In the suit, LML alleges that Telecheck Services Inc., Nova Information
Systems, Inc., Electronic Clearing House, Inc. and XPRESSCHEX, Inc.
infringed U.S. Patent Nos. 5,484,988; 6,164,528 and 6,283,366. This press
release is intended to correct, modify and supersede certain statements
made in error in today's earlier press release.
ECHO has not had an
opportunity to review the complaint. However, ECHO has been
aware of the LML patents for some time and has previously retained
outside patent litigation counsel at the 1,500-attorney law firm of
Sidley Austin Brown & Wood LLP. ECHO strongly believes
that it does not infringe any valid or enforceable patent rights of
LML and that LML's claims lack merit.
"ECHO adheres to the
highest quality business practices and intends to vigorously defend
itself against the claims made and to protect its right to lawfully
compete in the marketplace," commented Joel M. Barry, ECHO's
Chairman and CEO. "To the extent possible, ECHO intends
to work with the other parties identified as defendants to actively
defend against the LML action."
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
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