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ECHO
Press Releases 2006
FOR IMMEDIATE RELEASE
Electronic
Clearing House, Inc. (ECHO)
Announces Change of Public Accounting Firm
Camarillo, Calif., April 13,
2006 -
Electronic Clearing House, Inc. (Nasdaq: ECHO), a
leading provider of electronic payment and transaction processing
services, announced today that it has appointed BDO Seidman LLP as its new
independent registered public accounting firm, effective as of April
14, 2006. BDO Seidman LLP replaces PricewaterhouseCoopers LLP, which
served as the Company's audit firm since 1984. The Audit Committee
made the decision after a thorough evaluation process, which
included a review of other national firms.
The decision to change accountants
was not the result of any disagreements between the Company and
PricewaterhouseCoopers LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedures. The letter from PricewaterhouseCoopers LLP agreeing with
these statements is being filed today with the Company's Form 8-K
related to this announcement.
Joel M. Barry, the Chairman and Chief
Executive Officer of the Company, stated, "We appreciate the
high level of service provided by PricewaterhouseCoopers LLP to ECHO
over the past years. However, we believe a change in accounting
firms is in the best interest of our stockholders and look forward
to our new relationship with BDO Seidman LLP."
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. Examples of forward-looking statements
included in this press release include the potential for expansion
of ECHO's check guarantee business and the continued strong
demand for ECHO's check products. Potential risks and
uncertainties that may cause actual results to differ materially
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
Financial Relations Board
Erin Cox, 310-854-8319
ecox@financialrelationsboard.com
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