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FOLIO EXCHANGE ANNOUNCES STARWOOD HOTELS HAWAII PARTNERSHIP

Folio Exchange welcomes new client Starwood Hotels Hawaii.

Denver, Colorado - July 3, 2006 - Folio Exchange, the world leader in back-office hospitality billing solutions, is pleased to announce the addition of Starwood Hotels Hawaii to their expanding list of resort clients, now including nearly 80% of the Hawaii resort room market.

Starwood Hotels Hawaii is owned and operated by Kyo-ya Resorts and delivers a variety of premium quality guestroom experiences throughout the Hawaiian Islands. "We are please to partner with a client of Starwood's size and reputation and delighted to work with them to automate their back office billing procedures," says Principal Glen Miller.

Folio Exchange will work with Starwood's PMS and accounting systems to provide a secure and electronic interface between Starwood and their wholesale, corporate and group accounts. As with each client they service, Folio Exchange provides custom work to meet the specific needs of Starwood, enabling them to see billing issues, rate adjustments and customer inquiries across all sales channels in one easy place.

Folio Exchange created this technology that is setting new industry standards for communication and processing. Their goal to eliminate paper and provide significant cost and labor savings to Starwood and their many other clients. The average hotel A/R department spends between eight to fifteen dollars per folio billed. Folio Exchange clients typically spend less than $1.50 with their effortless web-based solution.

Says Julie Nakayama of Starwood, "We are excited to move our business forward and standardize procedures and processes that have been done manually for many years. Working with Folio Exchange will be a wonderful asset to our back-office systems and our Senior Management."

Starwood is set to go live with Folio Exchange services in December 2006. Folio Exchange welcomes Starwood on board as do many of the Folio Exchange wholesaler clients such as Jalpak Hawaii and Pleasant Holidays who send many visitors to the Starwood resorts each year.

About Starwood Hotels Hawaii:
Let Starwood Hawaii Hotels & Resorts show you the best of Hawaii in ultimate class and comfort. From the Big Island to Kauai, only Starwood Hawaii Hotels and Resorts offers you the most comfortable rooms at the best rates. With 11 properties across 4 islands, you'll find all the beauty, action, and tranquility Hawaii has to offer.
Additional Information about Starwood Hotels Hawaii is available at StarwoodHotelsHawaii.com.

About Folio Exchange:
Folio Exchange is the world leader in full-cycle back office billing solutions. Headquartered in Southern California, their complete "Start to Finish" solution offers paperless invoicing, streamlined dispute resolution, electronic audit trails and automated cash application. Folio Exchange delivers to their customer an effortless billing solution.
Additional information about Folio Exchange is available at FolioExchange.com.