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LATHEM INTRODUCES LOW-COST TIME AND ATTENDANCE SYSTEM FOR SMALL BUSINESS

New PayClock EZ System features direct interfaces to popular payroll programs

Atlanta, Ga. (June 25 1999) --- Lathem Time Corporation introduces its new PayClock EZ, the most affordable Automated Time and Attendance system in the industry, priced at $559 for small businesses interested in upgrading from mechanical time clocks or manual payroll processes. Price points for competitive models in this category begin at $800.

PayClock EZ features a modern, high-tech style electronic time clock and accompanying Windows(r)-based software, which runs on the user's standard PC. Employees clock in and out with credit card-style badges, replacing the time-consuming paper punch time cards used with conventional mechanical clocks. The electronic time clock stores employee ins/outs, which can be conveniently polled and retrieved by users from their PC, connected to the clock along a standard RS-232 communications cable.

"This new product allows small businesses to automate the one part of their payroll process that is still calculated by hand," says Lance Whipple, Marketing Director, Lathem Time Corporation. "Previously, an owner of this type of business had to process time and attendance manually or invest in a highly complicated and expensive system. PayClock's new features, easy-to-use design and inexpensive price tag make automating this process a very attractive solution to any type of small business."

PayClock EZ reduces errors by keeping an accurate record of employee attendance, which is then compiled and automatically calculated into finished payroll, factoring in wages, attendance, vacation and sick time, lunch and break deductions, and more. In most cases, payroll preparation time is reduced by at least 50%.

One of the most popular features of PayClock EZ is the direct interface to ADP(r) Paychex(r) and QuickBooks Pro(r). The interface allows data such as employee hours to be imported from the PayClock system directly into a company preferred payroll software, eliminating manual data entry errors while saving time and money. The new interface provides businesses the opportunity to implement true "punch-to-paycheck" systems.

All information can be archived electronically for several years. A variety of management and payroll reports can be generated and printed including: time cards, missing registrations, details, totals, daily totals, wages, daily wages, employee configuration, etc. Additionally this information can be exported to common business software programs such as Lotus or Excel, or even e-mailed directly as a text file from within the program.

This new product will be sold through a retail network of Lathem authorized office products dealers.

Lathem Time Corporation, headquartered in Atlanta, Georgia, has been a leader in the time and attendance equipment industry since 1919. More than a quarter million businesses around the world use a Lathem timekeeping product. Known for its high quality products and excellent customer service, Lathem Time designs and manufactures a full line of time and attendance hardware and software as well as Master Control and Guard Tour Systems.



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