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CathoNet™ Continues Growth with the Catholic Church at Conclusion of 2012

CathoNet™ the leading provider of on-demand Internet-based cloud computing accounting services and resources to Catholic dioceses is pleased to announce in Q4 2012 they signed several additional Dioceses to multi-year hosting agreements. CathoNet, widely recognized for reliability, outstanding customer support, and easy-to-use cloud-based solutions, enables the Catholic Church to rapidly standardize process and technology across parishes and schools by leveraging the most popular small business accounting applications in combination with fund-based consolidated financial reporting.

The Dioceses of Austin, Texas, and Toledo, Ohio, are now clients of CathoNet's cloud-based accounting systems, powered by the award-winning cloud hosting services from Right Networks®. Along with adding these two key dioceses, CathoNet has also entered into smaller pilot programs with several Dioceses around the country. In addition, CathoNet recently renewed a multi-year contract with the Diocese of Dallas Texas for their cloud-based accounting and consolidated fiscal reporting needs.

“One of the primary reasons we selected CathoNet as the standardized accounting platform is that over 95% of our parishes and schools already use QuickBooks® and like the product,” said Mary Beth Koenig, CFO of the Diocese of Austin. “Before CathoNet there was no mechanism to efficiently and effectively standardize the QuickBooks product and obtain timely financial reports. We believe the CathoNet product will facilitate better and timelier decision-making which will be of great benefit to the diocese for years to come.”

CathoNet's accounting and reporting solutions provide the Catholic Church with a cloud-based hosting platform that offers pastors, bookkeepers, and volunteers secure, anytime-anywhere hosted access to most small business accounting applications, leveraging the skills already present in the diocese. CathoNet's solutions provide standardization for non-profit fund reporting within parishes and schools while at the same time consolidating all financial reporting back to the diocese.

“CathoNet has been an invaluable partner to the Diocese of Toledo,” said Walt Nevolis, CFO of the Diocese of Toledo. “As we move through implementing the cloud-based QuickBooks solution, CathoNet has met any challenges with timely answers. Standardizing systems is never an easy task but CathoNet has provided us with a proven methodology that allows for a successful implementation with minimal difficulties or disruptions at our parishes and schools.”

"We are very excited to welcome these new dioceses as clients. CathoNet's cloud-based services allow them to quickly standardize their accounting platforms and financial reporting," said Deacon William A. Koniers, President of CathoNet. "Our goal is to align mission, ministry, and technology in the parishes and schools that we serve. Our clients realize the benefits of accountability, transparency, and good internal controls when information is available in real-time. Utilizing 21st century technology and processes allows the Dioceses to manage the business of the Church without turning the Church into a business."

About CathoNet, LLC

CathoNet aligns mission, ministry, and technology to support the pastoral, sacramental, and educational mission of the Roman Catholic Church. CathoNet provides on-demand Internet-based cloud computing accounting services and resources to Catholic dioceses both large and small. CathoNet's rapid deployment, subscription based pricing, and fully managed cloud-based application services dramatically improve security, reporting, auditability, and usability. CathoNet provides the tools to effectively manage the business of the 21st century Catholic Church by combining web-based management solutions for census and stewardship and popular desktop accounting applications for anywhere, anytime cloud-based accessibility. For more information visit us at www.cathonet.com.

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