Los Angeles, California, August 1, 2003 - Docufide, Inc., provider of Secure Transcript™ for the electronic delivery of transcripts from high schools to colleges, today announced Mr. John Reese as the company's new President and CEO. Two of the company’s original founders, Mark Cohen and Jeffrey Harris, will stay on as VP, Product Development, and VP, Secure Transcript Services, respectively. The company also today announced the first closing of its Series A round of funding, from sophisticated individual investors.

Mr. Reese has an extensive background as an entrepreneur, CEO, corporate executive and senior management consultant. Over the past 30 years he has founded two pioneering startups, one in Internet recruiting and the other in personal financial management software and home banking. He also was President of a $100 million TRW systems integration subsidiary providing high-speed image-processing solutions for the back offices of paper-intensive corporations. Earlier in his career, he was responsible for the conceptual design, development, deployment and operations of Citibank’s groundbreaking and highly successful self-service banking solutions, including ATMs, pay-at-pump systems and home-banking services.

"Docufide first service offering, Secure Transcript, has been designed to fix the broken process of transcript exchange between high schools and colleges," said Mr. Reese. "It's hard to believe that the vast majority of the 35 million transcripts sent annually are still delivered through the mail. We will enable the electronic delivery of transcripts across the country."

The Series A funding raised by Docufide will support product development, sales, marketing, and customer-service functions. The company plans to raise Series B funding in the first half of 2004.

About Docufide, Inc.

Docufide’s initial service offering, Secure Transcript, manages the ordering, processing and secure delivery of official transcripts to student-designated colleges and universities. It’s free to high schools and colleges and saves them significant time and money by eliminating tedious paper-based processing. Secure Transcript provides students with the ability to place orders 24/7, notification when their transcripts are sent, and (if received electronically) received. Docufide, Inc. was founded in October, 2002 and is headquartered in Los Angeles, CA. For more information, visit www.docufide.com.

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