Press Release Headlines

Applied Business Software, Inc. Resolves CopyrightInfringement Lawsuit

LOS ANGELES, Sept. 26, 2005 — Applied Business Software, Inc. (ABS), a leading developer of software for the lending industry with headquarters in Long Beach, California, settled a copyright infringement and breach of contract lawsuit against Old Canal Financial Corporation (Old Canal), a California Corporation with offices in Yorba Linda, California and Charlotte, North Carolina.

ABS had sued Old Canal in Federal District Court alleging breach of its software licensing agreements and copyright infringement. After the entry of Summary Judgment in favor of ABS on its claims, Old Canal agreed to a settlement, the terms of which were not disclosed, however, the parties are continuing a license agreement.

Applied Business Software, Inc. is determined to defend its products against copying and infringement of its copyrights. Copyright infringement is a matter of grave concern to the software industry and enforcement of licensing agreements is essential to the livelihood of software developers.

About ABS

Applied Business Software, Inc. (ABS) is a leading producer of software for the lending industry. Founded in 1978, ABS supplies software for loan origination, loan servicing, trust accounting, and addresses the needs of lending professionals in many other areas.

Contact Information:

Eddy Delgado
Vice President, Applied Business Software, Inc.
800.833.3343
Email
http://www.themortgageoffice.com

# # #