Skokie, IL, August 15, 2002 " PayNet, Inc. announces that Greg Jaros has been named to the position of Chief Information Officer. Greg was chosen for this position based on his success at PayNet combined with his more than 15 years of experience in program management and implementation of data warehousing projects. Greg began his career with PayNet as Director of Integrations, providing significant process improvements and management expertise to the extraction of data from PayNet Members into the PayNet data repository.

"Greg has proven to be effective at getting things done," said PayNet's CEO Tom Butler. "His experience developing and managing databases has been important to helping us implement our service and deliver a quality information product to our customers.

"It's exciting for me to contribute my skills to creating this repository of proprietary data on lease and loan payment history," said Greg. "Information is the key to success in business and I am glad my talents can be put to work at a leading information provider for the leasing industry."

Previously, Greg served as Principal at DiamondCluster International and was one of its original founders. At DiamondCluster, Greg was a member of their Solutions Delivery Practice where he worked on large scale database projects. Greg has an undergraduate degree from DePaul University and an M.B.A. from The University of Chicago.