ICLUBcentral Acquires Computer Office Workshops

January 9, 2003 - Cambridge, MA – ICLUBcentral Inc. today announced its acquisition of British software house Computer Office Workshops (COW), the market leader in investment club accounting software for the British market. The acquisition is ICLUBcentral’s second notable buy-out in two weeks, following the December 2002 purchase of Ohio-based software provider Ouriclub.com.

In response to requests from COW’s customers, ICLUBcentral intends to introduce an upgrade to COW’s popular “COW 2000” accounts software program for investment clubs. The planned new software will accommodate the Inland Revenue’s new tax scheme for investment clubs, which in previous years were not all required to file tax returns but which now must do so.

Bryce Klempner, Managing Director of ICLUBcentral’s UK division, commented, “Computer Office Workshops has for over a decade provided stellar support to share clubs in the UK, and ICLUBcentral is looking forward to continuing that tradition.”

COW chief Derek Richards remarked, “Along with most British investment clubs, I eagerly anticipate the introduction of ICLUBcentral’s new and more comprehensive system which will handle Inland Revenue tax forms.

About ICLUBcentral, Inc. ICLUBcentral Inc. develops and supports software products to address the specialized needs of affinity group members, including individuals involved with trade associations, membership societies, and civic, fraternal, and philanthropic organizations. Begun in 1989, this effort has been so successful that ICLUBcentral now provides accounting and tax software to a majority of investment partnerships in the United States—nearly 60,000 in all—via software programs distributed by the National Association of Investors Corp., a national non-profit association dedicated to investor education.

About Computer Office Workshops COW is the leading developer of investment club accounting software for the British market. ###