[August 24, 2006]

Axentis Delivers Sarbanes-Oxley Section 302 Compliance for Global 2000 Organizations

CLEVELAND --(Business Wire)-- Aug. 24, 2006 --

Leveraging the SaaS Model, Axentis Enterprise SOX 302 Gives Companies a Swift Path to Accurate and Trouble-Free Financial Quarterly Reporting

Axentis, the leading provider of on-demand governance, risk and compliance (GRC) management solutions, today formally announced the introduction of its stand-alone software-as-a-service (SaaS) based application for complete Sarbanes-Oxley 302 management. The only industry solution leveraging the SaaS model, Axentis Enterprise (Ae) 302 delivers Global 2000 customers a secure, easy-to-use solution that can be implemented in as fast as four weeks. Previously the 302 application had only been available as a bundled component of the Axentis SOX application.

Section 302 of the Sarbanes-Oxley Act requires that chief executive officers and chief financial officers of organizations be directly responsible for the accuracy, documentation and submission of all financial reports and the internal control structure to the SEC. That responsibility is illustrated by the certification that the financial reports are not misleading or materially inaccurate with respect to financial controls and result of operations. Axentis Enterprise 302 delivers a complete solution designed to streamline the entire reporting process, from implementation to the actual management of all key components.

"While most companies and software vendors had initially been focused on addressing 404 requirements, we have been seeing increasing interest in better workflow automation, consistency and control for 302," said Roger Bottum, vice president of marketing at Axentis. "By leveraging the SaaS model, we are raising the industry bar by removing the complexity of on-premise software installation, implementation, management and maintenance, each of which is a barrier that many companies face when looking to achieve more effective 302 management."

Ae 302 is easy to deploy, requiring only minimal IT startup effort due to its adoption of the SaaS model. Once in place, Ae 302 allows users to more easily track the status of all key assessments and automatically collect results. This capability eliminates the burden that SOX project management offices face to consolidate Word documents, and reduces follow up efforts required to complete assessments.

Some of the advantages Ae 302 delivers include:

-- Ensures the use of more consistent controls

-- Delivers customers better documentation of internal controls

-- Offers users more consistent and easily accessible reporting for both senior management and process owners

-- Ensures customers more secure information

-- Provides organizations with automated audit trails

Axentis is the only GRC company leveraging the SaaS model to deliver consistent workflow, reporting, security and content and learning management. Currently 700,000 users from Global 2000 companies located in more than 100 countries trust Axentis with their GRC requirements. Whether tackling Enterprise Risk Management, Sarbanes-Oxley, HIPAA, Corporate Code of Conduct, Anti Money Laundering statutes, Operational Risk, or COBIT, Axentis Enterprise is the common platform resource used to automate processes, reduce costs and manage risk.

About Axentis

Axentis delivers the only on-demand business performance optimization environment that empowers companies to turn governance, risk and compliance initiatives into better business performance and competitive advantage. With its unique software-as-a-service (SaaS) model, Axentis Enterprise (Ae) Suite delivers a one-world view of the entire organization for better risk management, mitigation and compliance. Ae is easy-to-use and can be deployed quickly, delivering immediate impact and a quick return on investment (ROI). Axentis, which was recently named an industry leader and innovator by several leading analyst firms, touts over 700,000 users from leading Global 2000 companies including ADT and AstraZeneca Pharmaceuticals. Axentis is headquartered in Cleveland, Ohio with data centers in Boulder, CO and Basel, Switzerland. For more information, please visit http://www.axentis.com.

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