ArchivesOne Acquires FileSafe Records Management In Albany, New York

For Immediate Release
July 2002

Watertown, CT - ArchivesOne, a Watertown company specializing in records management and storage services, has acquired FileSafe Records Management in Albany, New York.

The transaction represents a 5% growth increase for ArchivesOne and a new marketplace. Banknorth Group, Inc. (NASDAQ: BKNG), a $21 billion bank based in Portland, Maine, provided the debt financing. "ArchivesOne is doing a great job growing their business in a smart and disciplined way. The management team is executing the strategy that was pitched to the Bank" commented Patty Langer, Vice President, Commercial Banking at Banknorth.

"I am very excited about the deal," stated ArchivesOne CFO John Pavlovich. "The acquisition is a nice geographic fit for us, expanding our physical presence in the Northeast and move us further toward our goal of being the third largest records management company in the United States." The transaction adds approximately 150 customers to ArchivesOne in the Albany, New York marketplace.

Jon D'Elia, ArchivesOne's Senior Vice President of Sales & Marketing, added, "This is a great starting point for us in a new marketplace. We look forward to enhancing service for our customers and aggressively growing the business in Albany. "

ArchivesOne is in the business of providing records management and storage services to banks, law firms, hospitals, corporations and medical practices. ArchivesOne services customers in Connecticut, Long Island, New Jersey, Ohio, and Westchester. Since its inception in 1991, ArchivesOne has grown substantially. From zero people and zero customers, the company now boasts over 1,800 customers and 95 team members. ArchivesOne is one of the fifteen largest records management companies in the U. S.