ASSET INC. NAMED AS ONE OF CANADA’S 50 BEST-MANAGED COMPANIES FOR SECOND YEAR IN A ROW

Toronto, CANADA (December 18, 2002) – ASSET Inc., Canada’s leading collection transaction processing infrastructure and supply chain management company, was honored today in re-qualifying to be named as one of “Canada’s 50 Best Managed Companies” in the 10th annual award program designed to recognize the accomplishments of Canadian companies.

“This is definitely a remarkable achievement that reflects the hard work and dedication of the entire ASSET team,” said William Meany, President. “A motivated team of employees is what makes this kind of accomplishment possible and everyone shares in this distinction of being one of the best.” “Credit for this award is owed to all of ASSET’s clients and supply chain members who have worked together with our company to make it a leader” Meany added.

The 50 Best Managed Private Companies program was created in 1993 to recognize successful Canadian companies that have proven to be innovative, responsive to changing economic conditions and profitable. The program profiles Canadian companies that have outstripped their competitors, created thousands of jobs, produced accelerating revenues and excelled both domestically as well as in foreign markets. The National Post, Deloitte&Touche, CIBC, and Queen’s University sponsor the award.

The “50 Best” are chosen according to a number of selection criteria – from innovation and business strategy to employee satisfaction, which, along with outstanding customer service, is central to ASSET’s strategy.

“We have spent a tremendous amount of time to learn about our clients needs and have designed our solutions specifically around those needs,” said Meany. ASSET currently serves Canada’s 8 largest banks and trust companies as well as over 150 US and foreign banks with various well established collection-processing services. “We have to relate to not only our clients, financial institutions, but also our suppliers, find out how our software can make running their businesses easier - then meet and exceed expectations.”

“2002 was another banner year for us - with our greatest annual growth in our history. Our total supply chain management collection software solution was implemented at a major bank in Canada, with fantastic results. We have also created de facto standards in several processes that are continuing to roll out domestically and in foreign markets. The future for ASSET continues to shine brighter every year – 2003 will see even greater growth - and will celebrate our 25th anniversary”, added Meany.

ASSET Inc. was founded in 1978. The company’s services range from collection processing and supply chain management, to collection e-business engineering and consulting. The company currently supplies various collection-processing technology and infrastructure services to all of Canada’s 8 largest banks and trust companies as well as to over 150 US and foreign banks.

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Contact:

James Meany , B.A., MBA
Director, Corporate Development
(416) 977-7771
james.meany@ASSET.net

William Meany
President, ASSET Inc.
(416) 977-7771 x254
william.meany@ASSET.net