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Sept. 19th, 2001

MetroFlex,"The National Mass Transit and Parking Benefit Plan" is a web based qualified transportation benefit plan that takes advantage of IRS Code 132 (f). MetroFlex, Inc. the Buffalo based company that created it, is launching its product on a national basis from its New York City sales office in late September. A key component of the MetroFlex Plan is the MetroFlex Card, which is a MasterCard debit card that gives plan participants the ability to pay for mass transit and parking expenses with pre-tax money, saving them up to 50%. The company likes to compare the MetroFlex Card to E-Z Pass with a tax break. The card takes advantage of the Automated Fare Collection Systems that are currently being installed in the major mass transit markets. Plan participants can access transaction histories and account balances 24/7 through MetroFlex's website. The plan is the first to give employers a seamless transportation and parking benefit that can be utilized throughout the United States. The company recently closed on $600,000 in first round financing with Clarence-based Spaulding Ventures. There are preferred "A" first round co-investment opportunities available. Marc T. Hudak founded MetroFlex and serves as its President and CEO. Marc also serves as President and CEO of affiliate company ee-plan, LLC a web based administrator of employee benefit plans.


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