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Synapses Technologies Opens, Financial Backing Secured

CHARLOTTE, N.C. – May 16, 2005 – Synapses Technologies Inc. today announced its formation as an innovative provider of personalized 401(k) education solutions. Following seven years of operation as a division of a general systems consulting firm, Synapses Technologies Inc. has formed as a standalone company. Synapses is dedicated to providing 401(k) providers with results-driven education systems that clearly communicate financial data while also increasing participation.

Founded by Jim Saunders, a pioneer in low-cost personalized education for 401(k) providers, Synapses sparks to life with numerous leading 401(k) provider clients and highly trained employees specializing in the retirement services industry. The company also owns sophisticated proprietary software that produces unmatched communications products and workflow systems.

Financial Backing

Synapses also announced it has secured a substantial Line of Credit provided by Wachovia Bank, further strengthening the company's beginning and resources needed for anticipated growth and expansion.

"We are delighted to announce the founding of Synapses," said Jim Saunders, President and Founder of Synapses Technologies. "Armed with a powerful and unique mission of offering the retirement services industry with innovation that far surpasses traditional 401(k) education products, we plan to aggressively grow the company and build its portfolio of truly ground-breaking solutions."

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