Higher One - Press Release

Will Cover Indiana, Ohio, Pennsylvania, Kentucky, and West Virginia for Leading Provider of Refund Management, OneCard and Banking Services to Universities and Colleges

NEW HAVEN, CT, June 16, 2005 - Higher One, a leading provider of customized financial services dedicated exclusively to the higher education market, today named Matt Dorf as Regional Sales Director. Mr. Dorf's responsibilities will include business development and sales of Higher One products and services to colleges and universities throughout parts of the Midwest including Indiana, Ohio, Pennsylvania, Kentucky, and West Virginia.

"Higher One is pleased to add a seasoned senior sales executive like Matt Dorf to our growing team," said Dean Hatton, President and CEO, Higher One. "As Regional Sales Director, Matt will help us better reach Universities and Colleges that are seeking business process efficiencies and cost savings, but may not realize the kind of results they can achieve with OneDisburse, our easy to implement, comprehensive Refund Management." Higher One currently serves 24 public and private Universities and Colleges.

Mr. Dorf has 12 years of experience with leading software, services and outsourcing providers. Prior to joining Higher One, Mr. Dorf was Strategic Account Manager for Leadscope, Inc., selling data mining software and services to drug and scientific institutions throughout the U.S. and Europe. Before that, he was Senior Account Manager for Resource Partner, Inc., selling hosted ERP solutions and managing over $4 million in annual revenue. He is a graduate of The Ohio State University.

About Higher One

Founded in 2000, Higher One provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements. These include: student refunds, on-campus and community purchases, payroll and employee expenses, as well as the collection of payments from students, parents, and sponsors.

Higher One offers a suite of online banking services including the OneAccount, an FDIC-insured checking account, and OneCard, a Debit MasterCard^®. To date, Higher One has disbursed over $4 billion dollars in refunds for its clients to more than 1,000,000 students, faculty, and staff at distinguished public and private higher education institutions throughout the country.

Higher One recently ranked # 85 on the 2007 Inc. List of the 500 Fastest Growing Companies in the United States. Higher One is based in New Haven, CT.