Leading Filing Agent Finds Alternative to Outsourcing XBRL Using Solutions From Compliance Xpressware

Newsfile Corp. and Compliance Xpressware LLP Form Strategic Partnership

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| Source: Compliance Xpressware LLP

VANCOUVER, British Columbia and SUNNYVALE, Calif., May 3, 2011 (GLOBE NEWSWIRE) -- Newsfile Corp., an EDGAR filing agent, and Compliance Xpressware (CX) LLP, a Silicon Valley-based software company that enables reporting issuers to achieve compliance with the U.S. Securities and Exchange Commission's (SEC) mandate for eXtensible Business Reporting Language (XBRL), today announced that the companies have formed a strategic partnership. Under the partnership, Newsfile will retain control of the XBRL filing process using in-house personnel and provide a time and cost effective solution for third year filers. 

Newsfile will use CX's flagship product, Xpressfiler, a cloud-based, end-to-end solution for EDGAR filing that is both affordable and easy to use. Specifically designed with filing agents in mind, this HTML conversion and XBRL software suite is fully integrated, making it possible to create both HTML and XBRL documents from the same file in a seamlessly controlled workflow. Xpressfiler uses the latest in software technology and hosting options to bring unparalleled performance in terms of accuracy and speed.

"Newsfile is a highly respected filing agent in North America, and we are confident that our software will easily fulfill the XBRL requirements of their customers," said Fuad Rahman, Chief Executive Officer of CX. "With an XBRL compliance deadline looming later this year, it is great timing for the partnership, and it's imperative that customers start preparing for the XBRL mandate now."

"The transition to XBRL reporting has created challenges for smaller to mid-sized companies and filing agents," said Wasim Thaha, director of Newsfile Corp. and past chair of XBRL Canada. "Most solutions on the market today are too complicated, too time consuming, and too expensive to be practical. We have used Xpressfiler over the past three months to prepare for hundreds of our clients, and we are very satisfied with how quickly our staff was able to get up-to-speed."

To learn more about Newsfile Corp., go to http://www.newsfilecorp.com/. To learn more about Compliance Xpressware, go to http://www.compliancexpressware.com. For more information on Xpressfiler, please visit http://www.compliancexpressware.com/software.php.

About Newsfile Corp.

Newsfile Corp. provides compliance solutions for public companies required to distribute news and satisfy electronic reporting requirements via the EDGAR and SEDAR systems. The company focuses on delivering expert compliance services on a timely basis and at competitive prices. Newsfile Corp. was formed on Jan 1st, 2010 as an amalgamation of Automated Filing Services Inc. in Vancouver, and TNT Filings Inc. in Toronto. This friendly business combination brought together two experienced filing agencies to form a national organization with a strong commitment to supplying quality compliance services at competitive prices. For more information, please visit http://www.newsfilecorp.com/.

About Compliance Xpressware LLP

Compliance Xpressware (CX) LLP enables reporting issuers to achieve compliance with the U.S. Securities and Exchange Commission's (SEC) mandate for eXtensible Business Reporting Language (XBRL) reporting. Xpressfiler, the company's cloud-based, end-to-end solution for EDGAR filing is a comprehensive software suite that is both affordable and easy to use. Based in Sunnyvale, California, CX was formed by experienced software technologists and filing agents who are dedicated to helping public companies report to the SEC. For more information, please visit http://www.compliancexpressware.com.

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Media Contact:
Elena Annuzzi
Compliance Xpressware
(650) 704-8664