LAS VEGAS – May 19, 2008—NACHA—The Electronic Payments Association announced the 2008 recipients of its Distinguished Service Awards. The recipients, who will receive their awards at the PAYMENTS 2008 Chairperson's Leadership Reception at NACHA's annual conference today, include:

• Gerald F. Milano, former senior vice president of The Clearing House, serving as business manager for SVPCO—Check Services for outstanding leadership and commitment to the payments industry.
• Samuel D. Smith, senior vice president, retired, Federal Reserve Bank of Cleveland for outstanding leadership and commitment to the payments industry.
• Craig T. Vaream, managing director of ACH and global check deposits product executive for JPMorgan Chase, for his leadership of the PayItGreen™ Alliance and commitment to the payments industry.
• Stuart Williams, director of CheckFree payment services, now part of Fiserv, for his leadership of the PayItGreen™ Alliance and his commitment to the payments industry.

"Thanks to the efforts of this year's awards winners, and others like them, the ACH Network remains one of the safest, biggest and greenest payments networks in the world," said Elliott C. McEntee, chief executive office of NACHA—The Electronic Payments Association. "Their unswerving dedication and commitment to excellence in the ACH Network is felt and appreciated by us all."

NACHA presents its Distinguished Service Awards to individuals who, though their leadership and commitment to the payments industry, have influenced the shape and direction of the electronic payments industry and whose influence will be felt for years to come.

NACHA—The Electronic Payments Association

NACHA—The Electronic Payments Association is a not-for-profit association that oversees the Automated Clearing House (ACH) Network, one of the largest electronic payment networks in the world. More than 18 billion ACH payments were exchanged in 2007. NACHA is responsible for the administration, development, and enforcement of the NACHA Operating Rules and sound risk management practices for the ACH Network. Through its industry councils and forums, NACHA brings together hundreds of diverse payments system stakeholder organizations to enable the development of new network services and applications. NACHA represents more than 11,000 financial institutions through direct membership and 19 regional payments associations. NACHA and its members provide education, tools, and resources to increase the adoption of ACH payments to benefit businesses, consumers, and governments. To learn more, visit www.nacha.org and www.electronicpayments.org.

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