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Creative Business Decisions, Inc. and ApprovalWare, Inc. Announce Joint Technology Venture To Serve Furniture Retailers

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A joint operational, technology and marketing venture within the credit, analytics, data processing and information technology sectors was announced between Princeton, NJ-based Creative Business Decisions, Inc. and a Mount Kisco, NY firm, ApprovalWare, Inc. The announcement coincided with companies’ combined appearance as exhibitors at the home furnishing industry’s semi-annual “Market Week” event in High Point, NC. While comprehensive terms of the agreement(s) were not disclosed, the two firms issued their joint statement heralding the immediate availability of "the world’s most advanced, multimedia (online, on the phone and at point-of-sale), proprietary credit scorecard, analytics, (internal and third-party) loan application processing, credit decisioning, and retail transaction platform in the world." In their joint announcement, Creative Business Decisions' CEO Dr. Pat Nanda stated, "We have contractual commitments already concluded with a handful of furniture retailers that guarantee that we'll process in excess of $100,000,000 in consumer credit applications in the home furnishings sector during calendar year 2006. Contracts are already in various stages of negotiation for four times that amount in additional business within the sector, all scheduled for closing by year's end. That's a half-billion dollars in furniture transactions, and that's just from one of the many areas in which we're operating. And, together with ApprovalWare, we've just announced we're open for business today.” Nanda continued, “Clearly, our existing, new and potential clients and strategic partners in the banking, telecommunications, mortgage brokerage, retail automotive, home furnishings, consumer credit, call center and CRM software vertical are as excited as we are about the innovative technologies and services that the ApprovalWare-Creative Business Decisions' partnership brings to the table." According to ApprovalWare COO Robert Swern, "While we're active in a variety of sectors, we're really quite pleased with the response we've been receiving to our technology platform from the home furnishings industry. That's why we made our general announcement in High Point this week.” ApprovalWare will offer Creative Business Decisions' advanced credit analytics technology via their flagship Internet application service provider ("ASP") solution, ApprovalWareTM. And, scheduled for formal rollout within the next 90 days, Creative Business Decisions will provide ApprovalWare’s software and platform via the Decision StationTM brand of the ApprovalWare platform. ApprovalWare states in their corporate literature that they're, "The world's first, multimedia (on the phone, online or at point-of-sale), multi-lender, fully compliant, credit decisioning solution for business. There is no transaction technology or easier-to-use business process available on the market today that will drive more efficiency, customers, credit and cash more rapidly to a business' bottom line than ApprovalWare. Period." Creative Business Decisions is a 22-year-old firm that specializes in the development of enterprise-level credit analytics. ApprovalWare is a three-year-old software development company in the financial services and direct response technology sectors. Creative Business Decisions past and present clients include: Bank of Oklahoma, Citibank, Lack’s Furniture, Littman's Jewelers, Mercedes- Benz of North America, Verizon and hundreds of other well known firms. In the retail home furnishings industry, the firm provides various software-related products, including collections and credit decisioning software and consulting services, which, according to CEO Nanda, “May be counted upon to provide virtually instantaneous return on investment, and lift to a retailer’s bottom line. ApprovalWare's principals have produced, managed and developed online and offline marketing, technology, eCommerce and related solutions for numerous companies, with a partial list of those firms including: American Express Financial Direct, Americredit, Coldwell Banker Commercial Real Estate, Fujitsu Network Communications, Kroll Factual Data, and Quicken Loans. The ApprovalWare software suite is provided as a freely-licensed solution to any qualifying business that commits to nominal, monthly transaction volume on an annualized basis. The company does require a one-time charge for optional customization. Until today's announcement, Creative Business Decisions' analytics and widely deployed credit scorecards were exclusively provided to business users for custom installation on their own, pre-existing and third-party platforms. Today's announcement marks a turning point in the company’s history, since the firm is now enabled to service its clients with end-to-end solutions under its own brand. ApprovalWare Inc’s flagship software product, bearing the company’s name, is the byproduct of more than three years of internal development and five pending patents. ApprovalWare is the world’s first freely licensed, multimedia (online, on the phone, and at point-of-sale), multi-lender, fully compliant, credit decisioning and credit application processing platform. The company maintains operations in the mortgage, retail automotive, and retail consumer credit verticals, as well as in the teleservices/call center and customer relationship management (“CRM”) horizontal business sectors. Business users of ApprovalWare should experience virtually immediate return on investment (ROI), since the software is offered for use to businesses without licensing fees. Business users compensate ApprovalWare for system usage on a file-by-file and/or transaction basis, much as an individual would purchase cellphone plan based upon projected monthly usage. The company’s services and secured technology platform are accessible for demonstration via appointment only. To setup an appointment for a guided tour of the ApprovalWare platform, call (toll free): 866-344-0488. ApprovalWare’s offices are located at 40 West Main Street, Mount Kisco, NY 10549. CREATIVE BUSINESS DECISIONS, INC. Creative Business Decisions, Inc. specializes in developing credit management decision and control tools for banks, retailers, and other credit grantors. Since 1982, the company has developed over 500 statistical models for use in evaluating new applicants, tracking the paying/charging behavior of existing accounts, and prioritizing collection activities. The company manages each project based on the client’s specific business objectives and tailors their development process to meet the client’s goals. Generally, the company’s clients experience a first-year return on their investment. The company’s website is located at: http://www.cbdcredit.com.

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