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Herndon, Virginia - (Cheap Web Hosting Directory) - July 27, 2007 - International developer and supplier of software and e-commerce solutions to the insurance industry, Ebix, Inc. subsidiary, Finetre Corporation, has revealed that new resources provided through its new parent, Ebix, were instrumental in the delivery of the release of its AnnuityNet Platform.

Ebix is a leading international supplier of software and e-commerce solutions to the insurance industry and acquired Finetre Corporation in October, 2006. Steve Dunlap, President of Finetre offered, ”We’re tremendously proud of our June 2007 release of AnnuityNet, and the accompanying enhancement in customer responsiveness made possible by Ebix’s commitment to the Finetre business. Over our 10-year history, this release represents the largest delivery of new features and capabilities to our customers ever accomplished - by a factor of 3.”

After Ebix acquired Finetre last year, preparations immediately began to expand development resources for its web-based annuity and life insurance STP automation platforms AnnuityNet and LifeSpeed. The platforms operate under a SaaS (Software as a Service) business model and enable annuity and life insurance distributors to fully automate the processing of annuities and term and permanent life policies via electronic order-entry and application submission, compliance workflow management and oversight, suitability adjudication, and reporting over the Internet.

The release entered live production status on June 18th in Finetre’s annuity client base of major US wirehouses and insurance carriers. Mr. Dunlap added, ”Our post-release metrics confirm that overall our clients’ annuity transactions continued without any major issue throughout the implementation, and now they can begin benefiting from all of the new functionality provided in this release. And just as important, the volume of work behind this release speaks to our new ability as a part of Ebix to deliver on expanding client requests for new annuity Straight Through Processing (STP) functionality. With Ebix providing us greater support and resources, we see the June 2007 release as an indication of greater things to come for the annuity and life marketplace.”

The June 2007 release of AnnuityNet advances the overall efficiency, reporting, and convenience provided to clients. In addition to plentiful client-specific enhancements, a key feature of the release is the ability for insurance carriers to view and test the implementation of their annuity product details within environments that emulate the nuances of the customized production environments maintained for many of Finetre’s large distributor clients. Finetre reports that AnnuityNet is currently processing approximately one-third of annuities sold by traditional, full-service US broker/dealers.

Founded in 1997, Finetre is the division of Ebix, Inc. that focuses on transaction processing and compliance automation for the financial services industry. Finetre’s AnnuityNet Platform currently processes approximately 15,000 annuity transactions with a total value of nearly $1.5 billion for more than 20 brokerage firms each month over the Internet. Finetre’s parent company, Ebix, Inc., is a publicly-held corporation.

Ebix, Inc. is an international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix’s goal is to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges, by combining the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations.

With bases in Singapore, Australia, the US, UK, New Zealand, India and Canada, Ebix employs insurance and technology professionals who provide products, support and consultancy to more than 3,000 customers on six continents. Ebix was awarded Level 5 status of the Carnegie Mellon Software Engineering Institute’s Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certification for both its development and call center units in India.

For more information about Finetre, please visit: www.finetre.com.

To learn more about Ebix, please visit: www.ebix.com.