New Haven, CT – March 27, 2002 – Higher One, which provides affinity-based financial services through university partnerships, announced today the appointment of Dean Hatton as President and CEO. Mr. Hatton brings 20 years of diverse general and executive management experience in a variety of industries with organizations ranging from Fortune 50 multinationals to entrepreneurial start-ups.

Most recently, Mr. Hatton was President and CEO of Yclip, Inc., a direct marketing promotion company backed by investors including Oak Investment Partners. Prior to turning around Yclip, Mr. Hatton was EVP of Carlson Wagonlit Travel, the second largest corporate travel and expense management organization in the world. Mr. Hatton has also been an SVP at Citigroup where he was CEO of Travelers Property Casualty Direct Response, which generated over $1 billion in premiums annually. Earlier in his career Mr. Hatton had senior management responsibilities at Great Western Bank (now Washington Mutual) and Midlantic Bank (now PNC Bank). “I am very excited to be joining the Higher One team. The company is on the verge of a period of fast growth and I look forward to using my experience to lead the company as it continues to be an innovator in the higher education and financial services markets,” said Mr. Hatton.

In his new role, Mr. Hatton will be responsible for leading Higher One through its next round of financing and rapid national expansion. “Dean is the perfect person to run Higher One. He has the experience, proven leadership, creativity and drive to make Higher One a huge success,” remarked David Cromwell, a Director of Higher One and former CEO of J.P. Morgan Capital.

Mark Volchek, Higher One’s Chairman, added: “We are very excited to welcome Dean Hatton to Higher One’s management team. This adds to the momentum we have gained through the recent approval of Higher One Bank’s charter application and University of Houston’s decision to implement Higher One’s service.”

About Higher One
Higher One provides customized private label and one card banking relationships to higher education institutions. The company’s solutions help university partners reduce administrative costs, streamline business processes, increase revenue opportunities, improve the student experience, and strengthen the campus community. The company is led by a team of executives with backgrounds in higher education, finance, banking, and entrepreneurship. Fred Frank, Vice Chairman of Lehman Brothers, John Griswold, VP for External Communications for the Commonfund, and other leaders in higher education and finance serve as advisors to the company. David Cromwell, the former CEO of JP Morgan Capital serves on Higher One’s board.

For press inquiries contact:Mark Volchek, Founder and Chairman, [email protected], 203-776-7776