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ECHO
Press Releases 2007
FOR IMMEDIATE RELEASE
Electronic Clearing House (ECHO)
Appoints Keith B. Hall to
Board of Directors
Camarillo, Calif., Oct 17,
2007 -
Electronic Clearing House, Inc. (Nasdaq: ECHO, a leading provider of
electronic payment and transaction processing services,
today announced the appointment
of Keith B. Hall to the Board of Directors. With Mr. Hall's
appointment, ECHO's Board currently has six members, including five
non-management directors. Mr. Hall will serve on the Audit,
Compensation and Governance and Nominating Committees of the Board.
Charles J. Harris, CEO of Electronic
Clearing House, Inc., commented, "Keith Hall brings a wealth of
experience in finance for growth companies, with demonstrated
successes in organic growth, M&A transactions, re-engineering
strategies and turnaround situations. He is experienced in an array
of issues encountered by public companies including raising capital,
corporate governance, accounting controls and certification,
acquisitions and divestitures. I am delighted to welcome Keith to
our Board of Directors and look forward to his contributions."
Mr. Hall brings to ECHO 30 years of
experience in financial analysis, accounting, investor relations,
strategic planning, process redesign and international operations.
He recently retired as the Senior Vice President and Chief Financial
Officer of LendingTree, Inc., a division of InterActive Corp. (IACI),
where he had been instrumental in guiding the firm to achieve
profitability and raising $150 million in capital, including
overseeing the company's initial public offering in 2000. Prior to
LendingTree, Mr. Hall held chief financial officer positions with
three public companies (Broadway & Seymour, Inc., Loctite
Corporation, and Legent Corporation) that were acquired. He also was
employed for over twelve years in various financial positions of
increasing responsibility at United Technologies Corporation (UTX),
including chief financial officer of Carrier Corporation's North
American Operations.
Mr. Hall currently serves on the
Board of Trustees of Coe College in Cedar Rapids, Iowa, and the
Board of Directors of NewRiver, Inc., a private Internet company
serving the mutual fund industry. He holds an MBA from Harvard
Business School and a Bachelor of Arts degree from Coe College.
"This is an exciting time for ECHO as
the Company regains sales momentum and builds scale in the
business," said Keith B. Hall. "ECHO has great long-term prospects
for growth and business expansion, and I'm happy to join the Board
to help support the Company's success."
About Electronic
Clearing House, Inc. (ECHO):
A merchant account with
ECHO (www.echo-inc.com)
provides a fully integrated payment processing suite,
including credit card processing, electronic check
conversion (ECC), eChecks (ACH), check guarantee, check
verification, check collection and debit cards.
Merchants nationwide benefit from ECHO's wide
ranging payment services available through the company's
dedicated sales force or through channels that include
technology partnerships, banks, collection agencies and
other acquiring entities.
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
statement regarding the company's prospects for growth
and business expansion. 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
or
The Abernathy MacGregor Group, Inc.
Moira Conlon, 213-630-6550
MHC@abmac.com
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