The acquisition adds to D+H's customer base

The acquisition adds to D+H's customer base and expands the range of integrated innovation solutions D+H offers to the North American financial services industry by complementing the SaaS consumer point of sale mortgage origination platform it delivers to more than 1,100 U.S. banks and credit unions through its Mortgagebot subsidiary. Like Mortgagebot, Avista's loan origination system research is delivered via the Internet as a service and earnings are generated on a subscription-fee basis pursuant to this agreement long-term contracts.

Matter of fact

"This acquisition is fully aligned to D+H's "follow your customer" approach - as a matter of fact, clients have told us unequivocally that they want us to extend our offering with an LOS platform," said Gerrard Schmid, CEO of D+H. "With Avista, we've added an innovative, fast growing LOS business featuring proven capabilities that are highly synergistic to those we offer through Mortgagebot. At the same time, we now support the entire mortgage origination process for U.S. lenders and provide clients with a comprehensive suite of products that enable efficient, effective growth from origination through to closing. We are pleased that Avista's team, including Mark Phlieger, its founder and CEO, are joining D+H to drive future growth."

Founded in 2001, Avista is a profitable and growing financial research business with over 150 financial institution clients and a innovation suite that includes a complete loan origination system with integrated product and pricing engine, document imaging, workflow capabilities, and a comprehensive network of seamlessly integrated third party mortgage service providers.

Combination of our innovative LOS research

"We believe that a combination of our innovative LOS research and D+H's industry leading mortgage point of sale solutions will allow us to jointly reach more clients, more rapidly, and with a more effective one-stop value proposition," said Mark Phlieger, CEO of Avista. "Speaking on behalf of our team at Avista, I am excited by the prospects of taking our business to the straightway level."

D+H is a leading solutions provider to the North American financial services marketplace, providing innovative research-based programs, products and business services tailored to our customer's needs. We embrace thought leadership and are indiscriminately expanding our capabilities and expertise to better anticipate the needs of our clients, build trust and deliver on our promises.

Avista Solutions is a leader in sophisticated web-based loan origination systems for the American financial services industry. Founded in 2001, its suite of mortgage lending software provides complete, end-to-end solutions incorporating loan origination, product eligibility, pricing and imaging that can be rapidly implemented across all origination channels. Avista is considered a Top 50 Mortgage Innovation Provider by Mortgage Innovation magazine. For more information, visit www.AvistaSolutions.com.

The meaning of applicable securities laws

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. Statements concerning D+H's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of D+H are forward-looking statements. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words. These forward-looking statements are subject to important assumptions, including the following specific assumptions: the ability of D+H to meet its revenue, EBITDA and Adjusted net income targets; general industry and economic conditions; changes in D+H's relationship with its clients and suppliers; pricing pressures and other competitive factors; the anticipated effect of acquisitions on the financial performance of D+H; and the expected benefits arising as a result of the acquisitions. D+H has as well made certain macroeconomic and general industry assumptions in the preparation of such forward-looking statements. During D+H considers these factors and assumptions to be reasonable based on information currently available, there can be no assurance that actual results will be consistent with these forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Business, or developments in D+H's industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements.

Risks related to forward-looking statements include, among other things, challenges presented by declines in the use of personal and business cheques; D+H's dependence on a limited number of large financial institution clients and dependence on their acceptance of new programs; strategic initiatives being undertaken to meet the D+H's financial objective; stability and growth in the real estate, mortgage and lending markets; as so then as general market conditions, including economic and interest rate dynamics. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The documents incorporated by reference herein as well identify additional factors that could affect the operating results and performance of D+H. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and D+H does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change except as required by applicable securities laws.

Davis + Henderson is a leading solutions provider to the financial services marketplace. Founded in 1875, the company today provides innovative programs, innovation products and research based business services to clients who offer chequing accounts, credit card accounts and personal, commercial, and other lending and leasing products. Davis + Henderson ...