ArchivesOne Secures $50 Million in Senior Debt Financing from Bank of America Syndicate

WATERBURY, CT / OCTOBER 5, 2005 - ArchivesOne, Inc. of Waterbury, CT, the third largest records management and document storage company in the U. S., announced today that it has raised $50 million of senior debt financing from Bank of America, one of the world's leading financial services companies, allowing ArchivesOne to continue to execute on its expansion strategy.

"ArchivesOne has now raised approximately $100 million in senior debt, mezzanine debt, preferred equity and common equity to fund its growth" stated Scott Brabant, ArchivesOne's Chief Financial Officer. Bank of America joins Banknorth, Inc. of Portland, ME; Webster Bank of Waterbury, CT; ABRY Partners LLC of Boston, MA and HV Capital Investors, a Detroit mezzanine firm, as part of the capital structure. Equity investors, led by Housatonic Partners, a Boston based private equity firm and current ArchivesOne common shareholder, and FARM Capital Services, have provided equity financing.

"The Bank of America senior debt relationship can be further expanded to $70 million which gives ArchivesOne the flexibility needed in this critical stage of our company's evolution" Brabant stated.