Artifact Names Greg Furst as President & COO; Hosted Services Sales Veteran Joins On-Demand Global Software Management Firm.

BALTIMORE -- Artifact, the first and only provider of on-demand services to manage and measure global application development strategies, today announced that Greg Furst has joined the company as president and chief operating officer. As president, Furst will assume responsibility for all of the company's day-to-day operations.

Mr. Furst comes to Artifact from Savvis Communications (NASDAQ:SVVS), where he served as vice president and general manager of Savvis' worldwide hosting services, the communication provider's fastest growing business unit. Prior to Savvis, Mr. Furst was vice president of sales at Digex (NASDAQ:DIGX), growing Digex's hosting business from $30M to $220M in just under three years. Mr. Furst is a graduate of Bucknell and received his M.S. from Johns Hopkins.

"We are very pleased to have Greg join our team. He has an exceptional background in technology sales and in delivering hosting services, skills that are critical to a fast-growing on-demand services company," said Mark Wesker, chief executive officer of Artifact. "With Greg on-board, I can say that each member of our executive team has founded or joined start-ups that resulted in IPOs as well as acquisitions that returned significant shareholder value."

Artifact delivers an integrated suite of on-demand business subscription services that enable organizations to achieve the cost savings and time-to-market potential of global application development strategies. In recent years, organizations have begun investing billions in software globalization strategies to produce applications 24x7, and at reduced costs.

As global development grows, however, analysts report that an increasing number of global software initiatives are failing due to the complexity of managing the information, communication and coordination challenges unique to a global delivery process. In April 2005, for example, a Deloitte Consulting study reported that 74 percent of outsourcing projects failed due to vendor underperformance and cost overruns.

"I am thrilled to be joining a team of such quality that is targeting a market with such tremendous potential," said Greg Furst. "We are at the beginning of a massive shift in the software industry, as the forces of globalization drive organizations to adopt new business processes, tap into new reservoirs of engineering talent, and accelerate time to market cycles for new software products and systems."

Artifact's board of directors engaged in an exhaustive year-long search process before offering the position to Mr. Furst.

"Greg fit all the parameters set by the board. We were looking for technology sales, hosting, start-up, and public company experience, but never expected to find all of those qualifications in a single individual," remarked Don Rainey, a partner with Intersouth Partners and Artifact board member. "When you're staring down at such a huge market opportunity, it's critical to have the right management team in place."

About Artifact

Artifact provides an integrated suite of on-demand services that enable organizations to achieve the cost savings and time-to-market potential of global application development strategies. Whether outsourcing, offshoring or managing distributed teams, Artifact's business development, technology and data analysis services enable organizations to find the right global resources, achieve total visibility, control and transparency into the development process, while objectively measuring performance to establish standards for vendor and employee accountability. Artifact is privately funded by Intersouth Partners, New Markets Growth Fund, Draper Atlantic and former president of America Online, Ray Oglethorpe. The global economy knows no boundaries, nor borders. Think Global, Think Artifact. For more information about Artifact, please visit www.artifactnetwork.com.