Online Resources Files Delayed 10-Q, Closes Acquisition of ITS

Online Resources Corp. (NASDAQ: ORCC), a leading provider of web-based financial services, today announced that it has filed its Form 10-Q for the period ended June 30, 2007. The company had announced on August 10, 2007, that it would delay its filing to evaluate the accounting treatment related to an embedded derivative in its Series A-1 Preferred Stock.

The Form 10-Q makes no changes to the financial results provided by the company in its earnings release issued on July 26, 2007. Additionally, the filing was made within the period required to obtain the relief available under Rule 12b-25(b).

Also on August 10, Online Resources announced that it had completed its acquisition of Internet Transaction Solutions, Inc. (ITS), the leading biller service provider to receivables management companies and utilities.

As previously announced, the acquisition price was $45 million in stock and cash. The company expects that ITS will contribute approximately $7 million in revenue to its full year 2007 results and will be slightly accretive to core net income per share.

"I am very pleased to officially welcome ITS’ staff, clients and partners to the Online Resources family," stated Robert R. Craig, executive vice president and general manager of Online Resources eCommerce Services. "The combination of our companies is a big step forward in accelerating Online Resources’ growth in the biller market, a strategic area of business for us."