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LATHEM'S NO. 1-SELLING TIMEKEEPING SYSTEM NOW EXCHANGES DATA WITH NEW QUICKBOOKS® 2002 PRODUCTS

Data Integration Helps to Reduce Payroll Preparation Time For Small Businesses

ATLANTA, Ga. - November 27, 2001 - - Lathem Time Corporation, one of the world's leading designers and manufacturers of time and attendance products for small business, today announced that its No. 1-selling automated timekeeping system, PayClock® EZ, now shares data with Intuit's (NASDAQ: INTU) new QuickBooks® Pro 2002 and QuickBooks Premier 2002 software. This data integration helps to reduce payroll preparation time and eliminate inaccuracies associated with manual calculations.

"Hundreds of thousands of small businesses use QuickBooks to process their payroll," said Lance Whipple, Lathem Time's director of marketing. "Many businesses still use manual time sheets or time cards. Lathem is very excited to offer these employers an automated timekeeping system that integrates key data with QuickBooks Pro 2002 and QuickBooks Premier 2002. Lathem's PayClock EZ automatically synchronizes employees and their payable time with these latest versions of QuickBooks software, offering small businesses a completely automated 'punch-to-paycheck' system."

Among the features of this data integration, company, employee and payroll items such as regular and overtime hours are automatically synchronized between the two applications and new employee badges are automatically assigned.

"Many large companies have already realized the benefits of automating the payroll process, beginning with timekeeping," Whipple said. "Now small businesses can enjoy the same time- and labor-saving benefits of a punch-to-paycheck system."

Lathem Time is a member of the Intuit Developer Network, which helps third-party developers enable data integration between their applications and QuickBooks 2002 products. Lathem Time was among other leading application developers chosen by Intuit as a beta developer for the QuickBooks 2002 products.

"Lathem Time and other beta developers from the Intuit Developer Networks bring a host of valuable applications to small businesses that use QuickBooks 2002 products," said Esther Kruijver, director of the Intuit Developer Network at Intuit. "We are excited to work with talented developers such as Lathem Time to address small businesess' need for easy-to-use products that are integrated and customized for their specific business requirements."

About Lathem Time Corporation
Headquartered in Atlanta, Ga., Lathem Time is one of the world's leading designers and manufacturers of time and attendance products for small business. The company specializes in mechanical and automated employee time and attendance tracking systems, including the No. 1-selling automated system for small business, PayClock EZ. PayClock's automation reduces payroll preparation time by up to 80 percent and eliminates inaccuracies associated with manual calculations, saving up to 3 percent in payroll costs. Other products include time clocks, data collection terminals, software and synchronized wall clocks.

Founded in 1919 by George Lathem and his son Louie Lathem, Sr., Lathem Time remains a family-owned and operated company with 175 employees. Over 300,000 companies worldwide use a Lathem timekeeping product for managing their business. More information can be found at www.lathem.com.

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Media Contact:
Wendy Alpine
Alpine Communications
(770) 321-6386
wendy@alpinepr.com
 

Lathem and PayClock are registered trademarks of Lathem Time Corporation. Inuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, QuickBooks Premier, TurboTax, ProSeries and Lacerte, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.



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