FORT KNOX NATIONAL COMPANY TO LOCATE SECOND CALL CENTER FACILITY IN MADISONVILLE

192 High-Quality Jobs to Be Created

LOUISVILLE, KY – April 29, 2004 – Fort Knox National Company, a leading provider of outsourced electronic payment services, announced today plans to locate a second call center facility in Madisonville, Kentucky. The project received preliminary approval from the Kentucky Economic Development Finance Authority for state tax credits totaling $2.2 million over the next 10 years as part of the Kentucky Jobs Development Act. Under the proposed plan, Fort Knox National Company will lease a 10,125 square foot facility in Madisonville's Industrial Park, creating 192 new jobs with an annual payroll of more than $3.6 million.

The Madisonville expansion is designed to efficiently support the growth of and increased demand for Fort Knox National Company's biller direct payment solutions, which allow consumers to pay bills by Internet and telephone, using a variety of credit card, debit card, and electronic check payment options. The company's existing Elizabethtown call center facility currently takes 500,000 calls per month for clients such as GMAC Financial Services, Household Automotive Finance, and Mitsubishi Motors Credit of America, Inc. The addition of the Madisonville facility will ensure optimal availability during peak call periods. Additionally, each site will provide reliability and backup support in the event either call center is rendered unavailable.

" Fort Knox National Company has experienced substantial growth over the past several years," stated Jim Fugitte, President and CEO of Fort Knox National Company. "In order to efficiently support this growth, we find Madisonville an excellent choice for our newest call center. Madisonville has always impressed me and is an outstanding community poised for new growth. We're pleased to be able to provide meaningful employment there."

The company's rapid growth path has taken it from 60 employees in February 2000 to more than 300 employees today. In 2001, Fort Knox National Company opened a 20,000 square foot (250 seat) state-of-the-art Call Handling Center in Elizabethtown, capable of managing 34,000 incoming calls per day. The facility has since been expanded to 49,600 square feet, creating a corporate headquarters that today houses the company's executive offices, client support technologies, data processing facilities, and Military Assistance Company.  In 2003, the company also expanded to Louisville, locating satellite offices and production facilities downtown in the Heyburn building.

"As Governor of this great Commonwealth, my first priority is economic development," stated Governor Ernie Fletcher. "I commend Fort Knox National Company for investing in Kentucky by opening a new facility in Madisonville and creating nearly 200 new jobs."

The Madisonville facility will undergo a $3.1 million renovation to equip it with state-of-the-art customer contact and service technologies. The renovation is expected to be complete and the site operational by year-end. The new jobs will consist of 168 customer service representatives to assist consumers in making electronic payments by phone, as well as 24 managerial, technical, and support staff positions.  The proposed expansion will bring Fort Knox National Company's total workforce, in all locations, to more than 600 employees over the next two years.

Madisonville Mayor Karen L. Cunningham added her enthusiasm for the project: "I am pleased to welcome Fort Knox National Company to our growing community. It is encouraging to have yet another company choose Madisonville as a place they want to be in the 21^st century. The new jobs they create will further diversify Madisonville's economy."

"Fort Knox National Company is a welcome addition to the region," commented Danny Koon, executive director of the Madisonville-Hopkins County Economic Development Corporation. "I am very excited about this commitment of new jobs and capital investment to our area. I look forward to watching the company grow and prosper as a member of our Madisonville-Hopkins County business community."

About Fort Knox National Company

Fort Knox National Company is a leading provider of single-source electronic payment solutions, processing 19.7 million payments annually for more than 700 companies in the utility, mortgage, and financial services industries. Founded in 1985 and headquartered in Elizabethtown, Kentucky, Fort Knox National Company offers billers leading-edge voice IVR, Internet, and in-house payment options, which fully integrate consumer payment origination, remittance, reporting, and support. Fort Knox National Company’s affiliates include Military Assistance Company (http://www.macallotment.com), the nation's largest processor of automatic payroll deductions for U.S. military and federal civil service employees, and Fort Knox National Bank, the nation's 22nd largest bank originator in electronic debit activity, providing ODFI (Originating Depository Financial Institution), FedWire, and settlement services for Fort Knox National Company. For more information, visit http://www.fortknoxnational.com.

Contact:
Kelly Hilton
Fort Knox National Company
866.872.7531 ext. 2274
khilton@fortknoxnational.com
http://www.fortknoxnational.com

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.