Corillian Grows Revenue and Backlog

The net loss of $971,000 in the first quarter includes expense of approximately $560,000 related to FAS 123R, which Corillian incurred for the first time in the first quarter of 2006. Pro forma net income -- before amortization of acquisition-related intangible assets and stock-based compensation expense -- for the first quarter was $15,000, resulting in net income of $0.00 in diluted earnings per share. This compares to pro forma net income before amortization of acquisition-related intangible assets of $384,000 in the fourth quarter of 2005, resulting in $0.01 earnings per share. A reconciliation of GAAP results to pro forma results is provided as part of this press release. Recent Highlights -- Peoples Bank, an $11 billion financial services company headquartered in Bridgeport, Conn., selected Corillian Consumer Banking as its next-generation online banking system. -- Corillian also added a $5 billion community bank and a top 20 credit union to its list of recently acquired customers. -- Four customers licensed a Corillian payment warehouse solution, including First Tennessee Bank, a top 50 U.S. bank which decided to upgrade to the latest version of the Corillian Interpose Payments application to help expand its online bill payment services. The Corillian Interpose Payments application was integrated into Corillians suite of products after the acquisition of InteliData in August 2005. -- Corillian and Getronics, a global leader in workspace management IT services, signed a multi-year reseller and systems integration agreement to deliver comprehensive online financial services to financial institutions worldwide. Getronics will resell and implement Corillians Voyager platform and online banking applications as its preferred offering for financial institutions looking for a comprehensive, next-generation online solution. -- Corillian signed six more deals for its Corillian Intelligent Authentication product during the first quarter. Since its release in October of 2005, 20 leading financial institutions have selected Corillians Intelligent Authentication as the solution of choice to deliver strong, FFIEC-compliant online authentication services to their online banking users. -- Corillian announced results of new performance and scalability tests for its enterprise authentication security product, Corillian Intelligent Authentication. In recent tests, Corillian Intelligent Authentication processed nearly 400 authentication transactions per second, or approximately 34.5 million authentications a day -- well beyond other industry solutions. -- Corillian and StrikeForce partnered to protect financial institutions online users with a comprehensive authentication service combining Corillians Intelligent Authentication with StrikeForces Out-of-Band authentication platform, ProtectID. The joint offering helps to proactively detect fraudulent online activity and prevent illegitimate users from accessing accounts. -- Corillian announced the availability of Corillian Personal Money Manager (PMM), a next-generation online banking application that allows financial institutions to provide consumers with enhanced access to rich transactional information and extended account history data that is available 24x7x365 from the convenience of the financial institutions online banking site, even if the banks core systems are unavailable. A top 50 U.S. financial institution recently converted to Corillian Consumer Banking, including a new online service leveraging Corillian PMM. Financial Outlook Corillian will continue to invest in the people, processes, and technologies required to enhance the long-term profitability of its business model. The near-term impact of these investments will be delayed improvement in revenue and earnings growth, primarily due to the long term nature of some of the recurring r