Booming Demand for Steelpoint's Solutions Produces Record Bookings, New Hires; Growth spreads across all legal, compliance, and risk management offerings.

Business Editors/High-Tech Writers

BOSTON--(BUSINESS WIRE)--June 10, 2003

While the global economy continues to struggle, Steelpoint, a leading provider of compliance, litigation support, and risk management solutions, today announced first quarter record bookings, a 30% increase over previous quarters, as well as 13% growth in revenues. As a result, Steelpoint expanded its workforce by 15% this quarter to meet the escalating demand for its products and services.

"We are rapidly boosting employment in our professional services, hosting, and software engineering teams to keep up with the business requirements of our expanding client base," said Paul DiGiammarino, CEO at Steelpoint. "Our aim is to meet the demands of new growth, while continuing to improve upon our already high levels of client satisfaction. The additions will enable Steelpoint to enhance existing offerings and develop new solutions to help our clients strengthen processes, decrease costs, facilitate greater collaboration, and improve their own clients' satisfaction."

One key hire is Priya Iyer, who has joined Steelpoint as Vice President of Professional Services & Delivery, and will be responsible for ensuring that all of Steelpoint's projects are delivered with the highest level of client satisfaction. Iyer has held senior positions in strategy and IT consulting, client relationship management, sales management, operations, and product development for companies including AT&T Bell Labs, Foxboro Systems, and Westinghouse. Most recently, Priya was Vice President, Client Partner with Agency.com where she oversaw the Financial Services vertical globally and was credited for growing the vertical from $5M to $50M in less than four years.

"It is very exciting to be part of such a supercharged team at a company that has continued to grow, even in the face of an unforgiving economy," said Iyer. "At a time when mountains of data threaten to bury some organizations, it is imperative that Steelpoint continues to take a leadership position by delivering technology solutions that help review, discover, and resolve matters. Steelpoint is poised to do just that, based on its background and experience in successfully developing content-enabled business solutions for today's leading organizations."

Some of the new Steelpoint hires are designed to better support the growing number of clients seeking enhanced compliance, litigation support, and risk management solutions to streamline business processes, improve operations, and decrease costs. New hires are also bolstering further development of Steelpoint's Introspect eCM application to increase its ease of use without compromising Introspect's robustness and flexibility to deliver peerless litigation support. Steelpoint is also slotting additional new hires in its hosting group to support growth in the company's hosted client base, with the goal of offering increased performance, security, and stability.

About Steelpoint

Steelpoint, a leading provider of compliance, litigation support, and risk management solutions, increases operational efficiencies and reduces risks by helping organizations rapidly review all forms of content to discover and resolve matters. With over 10 years of experience and over 5000 successful user installations to date, Steelpoint delivers industry-leading solutions through industry specific software, business and technology consulting, partnerships, and systems development tools. Founded in 1993, Steelpoint is headquartered in Boston, MA and has regional offices in San Francisco, Chicago, New York, and London. For more information, call [phone] or visit the Steelpoint website at www.steelpoint.com.