JAY DEWITT JOINS GLENBROOK PARTNERS

Guide to E-Commerce Technology

Amazon.com Payments Executive Adds eCommerce Expertise to Consulting Firm

Menlo Park, CA -- March 14, 2005 -- Glenbrook Partners, a leading financial services consulting and research firm, today announced that industry executive Jay DeWitt has joined the firm as a partner. With more than 25 years experience in the payments industry, Jay brings a pragmatic approach to issues confronting clients in the rapidly changing world of payments. He is well versed in the economic, operational and strategic concerns facing acquirers, merchants and merchant service providers in the marketplace today.

"Jay`s industry experience spans the full payments value chain," said Scott Loftesness, a managing partner with Glenbrook. "His ability to turn abstract strategies into actionable tactics will make a significant contribution to Glenbrook`s ability to provide clients with measurable results."

Before joining Glenbrook, Jay headed Global Payments at Amazon.com where he was responsible for this prominent e-tailer`s acceptance strategies and operations. Prior to Amazon.com, he served as vice president of Product, Operations and Client Services at eCash Technologies, an online payments alternative, delivering and operating unique stored value solutions to both merchants and financial institutions. Jay also headed eFund`s SCAN product group, expanding the breadth of this service offering through strategic partnering and product innovation.

"eCommerce merchants are increasingly focused on improving their global reach, while minimizing their payments acceptance cost," said Allen Weinberg, a managing partner with Glenbrook. "Jay`s extensive experience developing global payments strategies, managing acquirer relationships, and directing payments operations fits nicely with the deep operating experience that our clients have come to expect from Glenbrook."

Jay began his career in payments at Seattle First National Bank, where he was responsible for merchant bankcard services, implementing and operating the Pacific Northwest`s largest point of sale network. Following this experience, Jay had an extensive career at Visa, leading implementation of several strategic projects as well as the launch and growth of several of Visa`s acquirer services, including his role as the founding operations officer in Merchant Bank Services, Visa`s original acquirer processing company.

"Jay brings a consumer-facing, merchant-centric view of the world to Glenbrook," said Carol Coye Benson, a managing director with Glenbrook Partners. "Combined with his ability to balance strategy development with operational tactics, our clients now have a unique resource to help them navigate the ever changing payments industry."

ABOUT GLENBROOK PARTNERS
Glenbrook Partners is a consulting and research firm that helps companies leverage the electronic delivery of financial services, with particular focus on payments, risk management, digital identity, and authentication. The firm helps clients with strategy definition, product development, and the application of technology to solve leading edge problems in the financial services industry.

For more information, visit http://www.glenbrook.com/.