NEWS RELEASE

December 19, 2001

For Immediate Distribution

REGIONAL UTILITIES ANNOUNCES THE FIRST LOCK BOX PILOT WITH PUBLIC UTILITY IN THE UNITED STATES

Destin Bank, the Financial Centre and Global eTelecom team up with Regional Utilities, Inc., the first public utility in the United States to begin processing under the National Automated Clearing House Association (NACHA) Lock Box Pilot.

Santa Rosa Beach, FL, December 19 - Regional Utilities, Inc., a regional provider of water and sewer services to Walton County Florida announces it is operational as the first public utility in the United States to electronically process checks received in the mail.

Under the NACHA Lock Box Pilot, Regional Utilities receives checks by mail, sorts and images all checks, and processes them through Destin Bank, the Financial Centre directly to the ACH System. The paper checks are kept on file for 90 days, and check images are instantly available for dispute or billing questions.

"Regional Utilities has consistently been looking to the future as part of our overall goal to increase revenues, decrease costs and improve operational efficiencies. That's exactly why we selected Destin Bank, the Financial Centre to assist us. This solution helps us do just that, and we are pleased to team up with Destin Bank, the Financial Centre and Global eTelecom to bring this important payment solution into operation" said Dewey Wilson, President of Regional Utilities, Inc.

"Together, Destin Bank, the Financial Centre, the Financial Centre and Global eTelecom provide the necessary infrastructure for a viable Lock Box solution. Destin Bank, the Financial Centre has made a commitment to the future of the community and the industry to become one of the premier originating ACH banks in the United States. With Global eTelecom literally in our back yard, and with them leading the Electronic Check Conversion Industry, it was simple to implement a sophisticated custom solution for Regional Utilities," said Frank Burge, President of Destin Bank, the Financial Centre.

"We are thrilled to be a part of the team bringing Regional Utilities to the forefront. By combining Destin Bank, the Financial Centre's ACH origination capabilities with our advanced payment technology, we were able to quickly produce a solution that requires less maintenance, streamlines their operation, and improves the return on investment (ROI) for Regional Utilities," said Joseph D. Korinek, Senior Vice President of Information and Technology at Global eTelecom.

About Regional Utilities

Regional Utilities, Inc., is a publicly held corporation based in Santa Rosa Beach, FL, and is a regional provider of water and sewer services for Walton and Bay Counties in Florida. Regional Utilities can be reached through the Internet at www.regionalutilities.com or by calling (850) 231-5114.

About Destin Bank

Destin Bank, the Financial Centre is a leading community bank based in Destin Florida. Destin Bank provides a full range of traditional banking services with the personal touch that has made us the banking services leader. Destin Bank, the Financial Centre has built a reputation for personal service and responsiveness. Services include ACH services, Investments, Insurance, Mortgages, Lending Services, Asset Management & Trust Services, Visa / MasterCard Merchant Services, Savings, Business Checking, Personal Checking, Financial Calculators, Check Imaging / Uni Statements. Destin Bank, the Financial Centre can be reached through the Internet at www.destinbank.com or by calling (850) 837-8100.

About Global eTelecom

Global eTelecom is a privately held corporation based in Destin, FL, and developed the most advanced technology for processing checks electronically at the Point of Purchase through the National Automated Clearing House Association (NACHA). Global eTelecom is an active member of NACHA's Electronic Check Council. Global eTelecom provides it's proprietary, fully customizable XML based electronic check processing services to a nationwide network of banks, independent sales agents and associations, credit card processors, insurance companies, 3rd party software providers, and retail merchants ranging in size from small "Mom &Pop" stores to national retail chains. Global eTelecom's proprietary Electronic Check Services include: Electronic Check Conversion (Point-of-Purchase), Electronic Mail Order / Telephone Order Checks (MOTO), Encrypted Electronic Internet Checks, Lockbox Conversion, Electronic Recurring Debit, Electronic Represented Check Collection (RCK), Wireless Encrypted Infrared Checks, Electronic Check Image Capture, and Secure Web Based Check Image Retrieval. More information on Global eTelecom can be found on the company's website at www.globaletelecom.com or calling (850) 650-8506.

35008 Emerald Coast Pkwy, 4th Floor, Destin, Florida 32541 * Corporate 850.650.8506 * Fax 850.654.9311