Business Engine Strengthens Financial Services IT Capability, Expands Vertical Market Presence to New York City.

Business Editors/High-Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 28, 2000

Collaborative Commerce Provider Launches New Manhattan Office

and Reinforces Core Team to Reflect Growing

Customer Needs in Global Financial Center

Business Engine, a leading provider of professional service automation and collaborative commerce solutions for global organizations and their network of service providers, today announced the opening of its financial services industry office in New York City. The new Manhattan location will serve as the company's solutions center and headquarters for its increasing business in the financial services IT market, enabling Business Engine to conduct executive briefings and boardroom evaluations, as well as offer product demos and onsite training and support to customers.

Earlier this year, the company launched The Business Engine Network(TM), a suite of Web-based internal/professional service automation applications supplemented with powerful business-to-business collaboration and commerce solutions that enable organizations to extend their management capabilities to include their network of external service providers.

"For IT organizations at global financial firms, managing a distributed population of employees, suppliers and offshore development centers is mission critical," said John O'Neil, Business Engine's chairman and chief executive officer. "The Business Engine Network gives these organizations the ability to draw from a global pool of internal and external resources, and to manage them no matter where they are."

According to a recent survey conducted by TowerGroup, a financial services IT research firm for the Securities Industry Association, spending by securities firms during 1998 exceeded the $18 billion mark, a more than 25 percent increase over similar investments in IT platforms two years earlier. By 2002, IT expenditures are expected to surpass $24 billion, reflecting the growing importance of both the Internet and IT departments in shaping financial services strategies in the boardrooms of Corporate America.

"We have been working with high-profile financial customers such as Citigroup, Credit Suisse First Boston, Deutsche Bank, Fidelity, ING, Merrill Lynch and Morgan Stanley Dean Witter for years," O'Neil added. "Many of these clients were involved in the early definition and evolution of The Business Engine Network. It is only natural that we establish a major center in the heart of this customer community, the pulse of the financial world."

In recognition of the importance of the financial services sector to Business Engine, O'Neil has relocated to New York City from the company's headquarters in San Francisco to be closer to key customers and to help grow the staff in the new Manhattan office. The Business Engine financial services team there includes three senior-level executives: Ron Stell has signed on as senior vice president of sales for global financial IT; Scott Phares has joined as senior vice president of business development for financial IT; and Paul Blaney has been appointed vice president of professional services for financial IT.

The move will also enable O'Neil to spend more time with Business Engine's Financial Services Advisory Board, comprised of senior executives from Deutsche Bank, Merrill Lynch, Morgan Stanley Dean Witter, Standard and Poors and Thrupoint.

"John's move demonstrates our commitment to better serve customers as we expand Business Engine's presence to our most important target markets, such as the financial services sector in New York City," stated George Van Ness, chief operations officer at Business Engine. "With the support of such a strong management team and our remarkable growth in financial services, Business Engine will be in an even better position with its Manhattan operation to deliver maximum value to existing and new customers."

Business Engine is a global organization maintaining its headquarters in San Francisco, Calif., with development operations in southern California, Virginia and India. In addition, the company has a network of sales offices in Atlanta, Belgium, England, India and Philadelphia. Business Engine's office in Manhattan is located at 445 Park Avenue. The main telephone number is 917/322-2310.

About Business Engine

Since 1987, Business Engine has been delivering professional service automation and collaborative commerce solutions to project-driven Fortune 1000 companies throughout North America and Europe. Global 2000 banking, pharmaceutical and other IT and R&D organizations are using Business Engine products, such as The Business Engine Network(TM), to improve the effective management of their complex projects and initiatives and the utilization of their internal and external resources. Headquartered in San Francisco, Calif., Business Engine has offices throughout the United States and overseas, in Belgium, England and India. Key investors in Business Engine include Broadview Capital Partners, Morgan Stanley Dean Witter, Oak Investment Partners and NSE Ventures. Privately held, Business Engine employs a full-time global work force of some 200 people. For more information on Business Engine and The Business Engine Network, please call 800/235-4142 in the United States, 415/616-4000 outside the United States, or visit the company's Web site at www.businessengine.com.

Note to Editors: Business Engine is a registered trademark of Business Engine Software Corporation. All other products and services referenced herein are trademarks of their respective companies.