Sacramento, CA - July 9, 2007 - The Central Valley Fund ("CVF"), a private investment firm focused on mid- to late-stage companies, is pleased to announce that it has successfully completed an investment of $1.65M in Administrative Systems, Inc. ("ASI"), an employee benefits disbursement software and service solution provider.

 

The capital will be used by ASI to help finance its strategic growth initiatives, including the launch of ASIOne, a next generation, web-based Benefits Payment solution.  Management will remain unchanged.

 

Don Robinson, ASI's President and CEO, stated, "This investment by the Central Valley Fund reflects on the quality of our management team and the opportunities within the Benefits Payments market.  This capital will allow us to fully implement a new suite of software and services that use the power of the Internet to provide real-time benefits disbursement and tax reporting functionality, enhancing our leading market position."

The Central Valley Fund was established by the principals of Gael Partners, LLC to finance later stage growth through mezzanine and preferred equity investments.  The fund has offices in Davis, CA and Fresno, CA; it is focused on making investments in California's Central Valley and throughout the state.  For more information, please visit www.centralvalleyfund.com.

 

Founded in Sacramento in 1972, ASI is a leading provider of employee benefit disbursement solutions.  ASI's clients include some of the nation's leading financial institutions and unions.  In 2006, ASI processed over $12 billion in employee benefit payments for its clients.  For more information, please visit www.asipay.com.

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