Three PNC customers included in latest round of Works license agreements

AUSTIN, Texas, September 25, 2002 -- Works, Inc. today announced that three customers of PNC Bank Treasury Management, a member of The PNC Financial Services Group, Inc., have signed license agreements to use the Works Procisa electronic payment management solution. The Works solution is designed to help PNC Bank's corporate customers reduce costs of manual check writing and time associated with accounting reconciliation by leveraging Visa commercial cards to settle payment transactions electronically. Customer wins include:

• Teacher's Credit Union of Indiana (South Bend, Ind.) - one of the largest credit unions in the country with assets of more than $1.5 billion and responsibility for 160,000+ members;
• Princeton University (Princeton, NJ) - the country's fourth oldest university, founded in 1746, an independent, coeducational, nondenominational institution located in a suburban section of New Jersey with approximately 4,600 undergraduate and 1,850 graduate students; and
• Hotels.com, L.P. (Dallas) - the Internet's largest specialized provider of discount accommodations worldwide.

As a result of the Works electronic payment solution two of these customers, Teacher's Credit Union and Hotels.com, L.P., became new clients of PNC Bank Treasury Management, the nation's ninth largest provider of cash management services. Princeton University was previously a PNC customer for other services.

"After taking a long hard look at all the costs we absorbed in check fees and inefficient processes, I made it my number one goal to make sure we never had to write another check again," said Amy Sink, CFO of Teacher's Credit Union of Indiana. "PNC Bank and the Works electronic payment management solution have helped us do just that by enabling our organization to reduce the number of checks we write by 50 percent, providing us with significant savings annually."

The Teacher's Credit Union is breaking new ground. With Works Procisa, Teacher's now uses Visa Purchasing cards as their primary payment option instead of checks and a petty cash fund. This has resulted in an average commercial credit card transaction size of $1,150, which is well beyond the $273 transaction size that has traditionally been the industry average (*see the "2000 Corporate Purchasing Card Benchmark Survey Results"). Internal adoption is also impressive, having reached 60 percent of its spending goal within the first four months of implementation. Full implementation of traditional purchasing card programs can take as long as 24 months.

The Works electronic payment management solution, which was created through a strategic alliance between Works, Inc. and Visa U.S.A., allows organizations to support and automate existing payment processes and to reduce reliance on checks as a primary means of payment. It does this by providing customers the ability to enable a Visa Purchasing card payment to comply with financial policies and process controls associated with today's check-based payment processes. This includes enforcement of signature authority, approval chains and separation of duties associated with authorizing payments. In addition, the Works solution provides managers online visibility into organizational spending as it occurs, giving them better information for planning and decision-making. Finally, the Works solution offers back-office reconciliation efficiencies to improve the speed and accuracy of transaction allocation as well as additional features, such as online card administration tools, to help customers better manage their commercial credit card programs.

"Our customers are excited about the added control and functionality that the Works application provides. It has allowed for payments to be completed faster by moving manual approvals and reconcilement associated with paper payments to an online and automated format," said James Graham, executive vice president, PNC Bank Treasury Management.

By addressing the need for defined payment processes and controls, combined with the efficiencies of the worldwide credit card network, the Works solution allows organizations to move payments to electronic settlement while maintaining control over how much is paid and when it's done.

"Since the release of our new electronic payment solution in early 2002, we have experienced tremendous success with customers who want to eliminate their manual check-based payment processes and move to an automated solution," said Bo Holland, president and CEO of Works, Inc. "PNC Bank and Works are delivering an innovative solution that can help a business improve its bottom line in a fast and efficient manner."

For more information on the Works Procisa electronic payment solution, contact Works at 888-967-5726 or visit http://www.works.com.

About PNC

PNC Bank Treasury Management is a member of The PNC Financial Services Group, Inc. As one of the top 10 treasury management providers in the nation, PNC Bank delivers personalized service, industry-leading technology and tailored solutions through a team of trusted advisors. It provides customized financial solutions for more than 30,000 companies with a comprehensive line of receivables, payables, investment, information reporting and global cash management services.

The PNC Financial Services Group, Inc. (NYSE: PNC), headquartered in Pittsburgh, Pa., is one of the nation's largest diversified financial services organizations providing regional community banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. For more information, visit PNC Bank Treasury Management on the Web at www.treasury.pncbank.com.

About Works (www.works.com)

Headquartered in Austin, Texas, Works provides software solutions that help large companies minimize the number of checks they issue, reduce the expense of costly manual back-office reconciliation processes and settle payment transactions electronically through the use of commercial credit cards. The Works Procisa electronic payment management solution is delivered to customers through an exclusive partnership with Visa U.S.A. and its member financial institutions.