CBORD Announces Record Sales and Bottom Line Profitability for Fiscal Year End 2003

For Immediate Release

Ithaca, New York—The CBORD Group, Inc., a leading provider of campus-wide card, housing management, and cashless systems, for the College & University, Corporate, & Healthcare markets, announced record breaking results for its Fiscal Year 2003 (ended June 30, 2003).

CBORD announced, among other results, record sales and bottom line profitability, extending its string of strong and consistently growing profitability in campus card & cashless systems to 20 years. In this record-breaking year for CBORD, 40 new sites joined the CBORD family, ranging from Syracuse University in New York to Occidental College in California and from Luther College in Iowa to The University of Dayton in Ohio.

Additionally, CBORD successfully upgraded 45 of its current customers to the Odyssey PCS System during FY03, including major expansions at The University of New Mexico, UC Santa Cruz, The University of Western Washington, and The Catholic University.

About The CBORD Group, Inc.

CBORD was founded in 1975 to serve the needs of campus auxiliary services. With the introduction of its first campus card system in 1979, CBORD has grown to serve the largest installed base of campus card and cashless systems users across North America. CBORD’s Odyssey PCS™ is its sixth generation campus card system and represents state-of-the-art network and internet-enabled privilege control services.

CBORD’s Odyssey platform also provides integrated housing management solutions for universities as well as interfaced operations with industry-standard CBORD food management software. The CBORD Group, Inc. is headquartered in Ithaca, New York. Visit CBORD at www.cbord.com.

“Cashless has created a culture in the organization. People refer to "swiping" and many have come to rely on it. Employees have their ID badge with them at all times and can use it anywhere.”

— Kevin Harmon
NY Life Insurance