Check 21 Grounds Check TransportFlights

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COLUMBUS, Ohio - (05/02/05) -- AirNet Systems Inc., one of thebiggest regional transporters of checks for payment clearing, saidthe advent of the new electronic clearing law, known as Check 21,has cost it two major contracts representing $6.6 million. The airshipping company said the Clearing House Payments Company LLC, ofNew York, has canceled a bank document transportation contract forwest coast financial institutions because of the availability ofelectronic collection alternatives. In addition, a major southwestbank has also canceled its AirNet contract, forcing the company todiscontinue its flight serving three other banks into thatcity.

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