Cybersettle Launches Cybersettle 5.0

WHITE PLAINS, NEW YORK – April 12, 2006 – Cybersettle, Inc., the world leader in accelerated dispute resolution, and inventor of the online double-blind bid system, has announced that it has taken the next step forward in facilitating the settlement of claims with the launching of Cybersettle 5.0.

First, Cybersettle has shifted platforms from Classic ASP to Microsoft’s new ASP.NET platform. Now Cybersettle 5.0 is fully web-service enabled, and contains defined application, transaction, and data layers.

“The new version is designed not just for the claims cases of today, but for those of tomorrow,” says Charles Brofman, President and CEO of Cybersettle. “We addressed the ongoing issues of our growing user base and made the product user and future-friendly.

The latest release gives Cybersettle users the ability to:

* Support and settle related claims together
* Share documents online
* Customize, standardize, and specialize reports
* Tailor and sort their online display grids to better manage their data
* Get “real time updates” on claims cases using the new Settlement Ticker
* Hand off cases seamlessly to fully trained facilitators who are available to help parties negotiate an outcome offline

The new reporting system gives users the ability to dynamically drill down by company or by individual user. It also allows users to produce reports and data in Excel sheets, Adobe PDFs or easily print for offline access.

Always looking for ways to expedite the settlement of cases, Cybersettle has made it possible for users, with the click of one button, to request the assistance of a trained facilitator. Once notified, a Cybersettle facilitator will contact both parties and facilitate the settlement over the phone. In certain instances where a case meets specific “eligibility” requirements, a Cybersettle facilitator will independently reach out to the parties involved to inquire if they would be interested in having their settlement facilitated.

“Cybersettle understands that time is the most frustrating and expensive issue in the claims settlement business. We offer a unique system that has been proven to dramatically reduce claims’ cycle times, and pride ourselves on staying on the cutting edge of internet innovation,” says Brofman.

“Four to five percent of the $260 billion total costs paid out last year was due to claims leakage! By expediting the settlement process, Cybersettle virtually eliminates leakage, and allows carriers and attorneys to continue to expand their businesses without having to expand their personnel.”

Praised as a “Streamlining Pacesetter” in BusinessWeek’s 2005 “Websmart 50,” Cybersettle has produced winning results for New York City. Cybersettle is being used by the City to settle a multitude of lawsuits filed against it each year. According to Comptroller William Thompson, Cybersettle “saved taxpayers $11.6 million during the first year the city used the system.”

ABOUT CYBERSETTLE
Cybersettle is the world leader in accelerated dispute resolution and inventor of the online, double-blind bid system. Its unique multi-step settlement method consists of Cybersettle’s renowned Web-enabled settlement application, followed by optional telephone facilitation. Cybersettle’s expedited process allows parties to resolve a wide range of claims quickly and confidentially. Cybersettle has handled over 100,000 transactions and has facilitated more than $1 Billion dollars in settlements, including bodily injury and other types of insurance claims.

Cybersettle was awarded United States Patent No. 6,330,551 for the Computerized Dispute Resolution System and Method. Cybersettle has similar patent coverage in more than a dozen other countries.

Cybersettle Financial Services LLC, formed in late 2004 and wholly owned by Cybersettle, Inc., has successfully launched the RapidFunds product to provide near immediate receipt of settlement funds to claimant, claimant’s attorney, or both. As the RapidFunds product continues to become widely accepted in the marketplace, Cybersettle Financial Services LLC expects to launch additional financial services to lawyers in 2006.