Higher One Named Connecticut's Rising Star in Deloitte's

Fast Growth Positions Higher One as One of Connecticut's Elite

New Haven, CT, October 13, 2006 - Higher One, a leading provider of customized financial services dedicated exclusively to the higher education market, today announced it has been named a Rising Star in Deloitte's prestigious Technology Fast 50 Program for the Connecticut Region. The Technology Fast 50 is a ranking of the fastest growing technology companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. The Rising Star award is a special title given to Connecticut's young fast-growing technology companies that have been in business between three and four years.

Higher One saw an almost 1000 percent increase in revenue from 2003 to 2005. With over 200,000 account users, Higher One currently has partnerships with more than 60 colleges and universities across the United States. Approximately 2.5% of all students nationwide carry a card provided by Higher One, making it one of the top 25 issuers of Debit MasterCard cards in the U.S.

Yale graduates Sean Glass, Miles Lasater, and Mark Volchek developed the business concepts that turned Higher One into a reality. These young businessmen have thus far kept their company Connecticut-based, helping to provide a significant number of new jobs in New Haven. Six years after Higher One was incorporated, Higher One's business has bolstered the state's economy providing more than 100 jobs, making the company an anchor tenant at 25 Science Park, only steps from Yale University.

"It is an honor to be named one of the fastest growing young companies in Connecticut and our focus remains on helping higher education institutions across the country improve their refund disbursement process and streamline costs," said Sean Glass, Co-founder and Chief Marketing Officer of Higher One. "We are truly proud of our continued success and as Yale University graduates, we hope that the experiences we have had in building and growing our business here in Connecticut is an inspiration to other young entrepreneurs."

Higher One provides Refund Management to higher education institutions and banking services to members of their community through a card based solution. Higher One's Refund Management disbursement service, OneDisburse®, provides students with more choices and better services for receiving money owed to them by their college or university. Higher One also offers a suite of banking services called OneFinance, which includes the OneAccount, a no minimum balance, no monthly fee checking account with the OneCard, a Debit MasterCard® for ATM withdrawals and purchases, and exclusive features such as "Send Money", Easy Refund^SM, and Campus AutoLoad. The OneFinance^SM and OneDisburse solutions can be integrated with the institution's ID card or provided through a separate "refund only" card.

To qualify as a Rising Star in the Connecticut Technology Fast 50, companies must have had base-year revenues of at least $50,000 to $75,000,000 with current-year operating revenues of at least $5 million, be in business between three and four years, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.

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.

HIGHER ONE NAMED CONNECTICUT'S RISING STAR IN DELOITTE'S TECHNOLOGY FAST 50 PROGRAM

HIGHER ONE NAMED CONNECTICUT'S RISING STAR IN
DELOITTE'S TECHNOLOGY FAST 50 PROGRAM