NEW HIGHER ONE WEB SITE PROVIDES HIGHER EDUCATION WITH A ONE-STOP SOURCE FOR REFUND MANAGEMENT, ONECARD AND BANKING SERVICES INFORMATION

www.higherone.com Lets Universities Calculate Potential Cost Savings From Electronic Refunds, Student Online Banking And Free Recarding, Among Other Services

NEW HAVEN, CT, March 24, 2005 – Higher One unveiled its newly designed web site today (www.higherone.com), providing colleges and universities with an expanded array of informational resources on refund management, OneCard and banking services. The site offers information and resources tailored to the needs of any College/University audience, whether institution, student, parent, local business or news outlet.

“College and University administrators, students, parents and university business partners are all interested in what the latest refund management, OneCard and financial services are - - and they want to understand how it is relevant to them,” said Dean Hatton, President & CEO, Higher One. “Higher One’s new web site provides these groups with information tailored specifically to their individual needs. For example, a business officer can learn how OneDisburseSM will help save the University money and a student can learn about the features of OneFinanceSM, including how they can have their Financial Aid money available to them the day it is disbursed, instead of the next week.”

Higher One’s new web site offers many features to help College/University business officers, students, merchants and other constituents get hands-on information to make more informed decisions. The site features easy to use, pull-down menus for University Services, Student & Parent Services and Business Services, as well as testimonials from students and administrators currently using Higher One services.

Universities can select from topics including: Refund Management, Banking and Debit Services, Card Services and Project Management, and drill down within each category to help them get all the information they need to determine what service is right for them. Each section offers case

studies, more in-depth information and aids in helping a higher education institution navigate the options available to them. For instance: how can Universities reinvent the disbursement process with Refund Management, reducing costs not just in disbursements, but also in customer service, error handling and reconciliation, while allowing students to receive their refunds faster, have more choices, while offering electronic notification and many self-service options for a better customer experience? The Refund Management page also offers an easy method for comparing Higher One’s OneDisburse service with check-based, ACH or refund card programs.

How much money can institutions save? Higher One shows how Universities can reduce costs through Refund Management with an interactive, downloadable “Savings Calculator,” an Excel Spreadsheet where institutions can input enrollment, disbursement numbers, disbursement costs and enrollment growth rate to determine their cost savings using Higher One’s solution. The calculator also allows them to project cost savings over the next five years according to their data, including current cost of refunds, cost of refunds with Higher One, and expected savings.

As the Company was founded by three undergrads who understood the need to shorten the time it took for students to have access to their Financial Aid funds, Higher One understands the needs and concerns of students. As a result, the new web site offers a wide variety of resources to help students understand how the Higher One service works for them and with their school, how they can get the most out of it, what current student users think, how Higher One works with students at client universities and even how the Company makes money.

“We want to make sure that students understand how we can deliver their financial aid refund to them faster than any other system out there,” added Hatton. “But we also want to make sure they understand how seriously we take their privacy and security, so we explain in detail our privacy policy and the fact that deposits in OneAccounts are FDIC insured up to $100,000.”

The new web site includes detailed factual information about Higher One, its services, philosophy and commitment to privacy. The “About Higher One” section provides the history of the company along with a look into the motivation, philosophy and character of the firm and its management group. The Testimonials page is dedicated exclusively to feedback from College and University students with actual experience using the card on their campuses. Higher One also works with businesses to bring special programs to accountholders through OneDeals, OneRewards, and other special programs. The new Higher One web site offers local businesses all the information they would need to understand if partnering with Higher One is right for them.

About Higher One Focused exclusively on higher education, Higher One provides refund management services to higher education institutions and banking services to members of their community through a card based solution. Higher One’s integrated solution helps universities reduce administrative costs, streamline business processes, create new revenue streams, increase student customer service and strengthen the campus community. Higher One’s refund service, OneDisburse, provides students with more choice and better service for receiving financial refunds. Higher One also offers a suite of banking services called OneFinance, which includes the OneAccount, a no minimum balance, no monthly fee checking account, the OneCard, a Debit MasterCard® card for ATM withdrawals purchases, and exclusive features such as “Send Money”, Easy Refund, and Campus AutoLoad for stored value programs. The OneFinance and OneDisburse solutions can be integrated with the institution’s ID card or provided through a separate “refund only” card.

To date, Higher One has disbursed half a Billion dollars in refunds for its university clients. More than 250,000 students, faculty, and staff at distinguished public and private universities use Higher One’s services through their ID or refund card. www.higherone.com.