AXS-One Streamlines Financial Reporting Processes at New York Law Firm.

Business/Technology Editors

RUTHERFORD, N.J.--(BUSINESS WIRE)--July 25, 2002

AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced that Manhattan law firm Cleary Gottlieb Steen & Hamilton has expanded its existing AXS-One implementation with the addition of a new financial reporting solution from AXS-One.

This solution leverages their current installation of AXS-One products and automates the process of extracting financial information to produce and distribute reports for executives at Cleary Gottlieb Steen & Hamilton.

Cleary Gottlieb Steen & Hamilton has been an AXS-One client since 1988. The law firm licensed AXS-One's AXS Excel solution in May 2002 after seeing a demonstration at the AXS-One users' conference this past April. The implementation of the AXS Excel solution marks the beginning of a multi-phase undertaking by Cleary Gottlieb Steen & Hamilton to update its current financial reporting systems.

David Glicksman, controller for Cleary Gottlieb Steen & Hamilton, said, "For more than fourteen years, AXS-One has been providing us with solutions to streamline our financial processes and help us work more efficiently - an urgent need in a law firm where every minute counts. I was drawn to the AXS Excel solution because of its scalability and the fact that it can be implemented almost immediately. Those two factors combined with its functionality made it a very easy sell internally and allowed us to get started on plans to move forward with its progressive new capabilities."

With the addition of AXS Excel to its existing AXS-One solutions for financial reporting, Cleary Gottlieb Steen & Hamilton will eliminate the need to manually transfer financial data from its general ledger into Microsoft(R) Excel spreadsheets for distribution to designated recipients. This will help the firm expedite the reporting process, ensure accuracy, and save valuable time and effort.

"We are pleased to provide Cleary Gottlieb Steen & Hamilton with additional solutions that leverage their existing installation to deliver new functionality and benefits," said John Rade, chief executive officer of AXS-One. "AXS-One's financial reporting systems reflect our commitment to delivering a broad range of solutions that automate the financial value chain at every level of the organization more efficient."

About AXS-One Inc.

AXS-One (AMEX: AXO) is a provider of supply chain management solutions for service industries that extend the finance function and allow organizations to work collaboratively with their partners, suppliers, employees, and customers while preserving investments in existing systems. AXS-One has implemented high-volume, interoperable, scalable and secure business solutions for the global 2000. Its Web Services-based technology has been critically acclaimed as best of class. AXS-One has approximately 250 employees in offices worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is based in Rutherford, New Jersey, U.S.A. Visit AXS-One on the web at http://www.AXS-One.com.

This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission.

AXS-One, e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART, and Tivity are trademarks of, and "Access Tomorrow Today," AXSPoint, and TransAXS are registered trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.