Press

Transzap™ Awarded SAS 70 Type II Certification

DENVER and HOUSTON − February 14, 2006 − Transzap, Inc., provider of Oildex, the energy industry’s leading digital data exchange and e-payable service, announced today that the company has achieved SAS 70 Type II certification for its design and execution of operational controls. The SAS 70 Type II assessment provides industry-standard assurances that controls are in place to effectively manage and protect Transzap’s customer data.

The SEC's Sarbanes-Oxley Act of 2002 requires publicly held companies to provide proof that their service companies have measures in place to ensure a secure and stable environment for their data. A SAS 70 Type II auditor’s report issued through guidance established by the American Institute of Certified Public Accountants (AICPA) provides this proof.

Peter Flanagan, President and CEO of Transzap said, "The completion of our SAS 70 Type II audit distinguishes Transzap as a market leader with a commitment to integrity. The audit affirms our company’s mission to deliver critical business information and workflow services in a safe, reliable environment. We recognize that our SAS 70 Type II examination provides an assurance to each of our customers, particularly those working to comply with Sarbanes Oxley regulations. We have expended considerable resources to provide our customers with this certification. Transzap will continue to pursue annual examinations to ensure our customers and their auditors can rely on our services and satisfy their SEC reporting needs."

The SAS 70 Type II Report examined the integrity and security of Transzap’s systems, including an exhaustive assessment of the company’s controls in the areas of operations. It evaluated procedures critical to the processing of vast quantities of information including the exchange of billions of lines of financial transaction detail.

About Transzap, Inc.
Transzap™ simplifies financial and operational processes by replacing paper-based tasks with digital data and workflow. The web-based software also provides unparalleled access to information about how and where a company spends its money. Through its Oildex services, Transzap provides one of the energy industry's largest Internet-based data exchanges serving over 1000 companies and 10,000 users. Currently available commercial services include: digital and scanned invoice processing with Business Intelligence (Spendworks™), owner/producer relations data posting, check stub reporting (CDEX), crude oil data exchange (CODE), gas data exchange (GRADE), production and sales volume reporting and joint interest billing (JIB Connect™). Oildex has offices in Denver and Houston. This news release and additional information are available: http://www.transzap.com; http://www.oildex.com.

For additional information:
Contact:
Karey Goebel
Marketing Director
Office: 303-222-6116
kgoebel@transzap.com