Cache Box Changes Names to Ciao Software; Company Offers 10 Percent of Its Stock to Dealers.

Business Editors/Hi-Tech Writers

LAS VEGAS--(BUSINESS WIRE)--July 24, 2001

Cache Box, Inc., the Arlington, Virginia-based software developer, announced today that it has changed its name to Ciao Software, Inc.

The announcement came at the ICRDA/SDA "Focus 2001," the annual trade show and conference for dealers, distributors and Value-Added Resellers (VARs) who sell technology solutions to the hospitality and retail industries.

T. Jamie Newell, CEO of the company, said the name change reflects the shift in the company's business from being a producer of both Point-of-Sale (POS) software and hardware to focus on the development of world-class POS software. Ciao is the name of the company's best-selling proprietary restaurant automation software.

Newell said: "After discussions with a number of our dealers, industry experts and potential investors, we believe that our core competencies are cutting-edge POS software development and the roll-out of a strong dealer network."

Jonathan Price, President of the company and responsible for software development, said the shift in focus will allow it to enhance profitability and, more importantly, increase the speed of new software development.

"Since its founding seven years ago, Cache Box has become a highly successful provider of both POS hardware and software to the commercial and military markets," Price said. "We developed a line of specialty hardware products, including touch-screen POS terminals, mobile POS kiosks, file servers and equipment racks that resonated well with the higher-end market."

"More and more, though, we feel that the future of our company is in the development of leading-edge, high technology software products that can solve many of the problems facing the hospitality and retail industries: effective inventory control, financial reporting, human resource management, sales and marketing support and customer loyalty programs," Price said.

At the same time the company announced its name change, it also unveiled plans to make up to 10 percent of its stock available to its dealers. "We are expanding our network of dealers from 20 to 50 between now and the end of the year," said Myron Staszkow, the company's Vice President of Sales. "By setting aside 10 percent of our company for our dealers, we're hoping to instill in them a great sense of loyalty and `ownership,' a sense that they have a vested interest in the continued growth and success of our company."

Staszkow said Ciao's most successful dealers will be given warrants for a certain number of stock options each quarter. Successful dealers will be rewarded on a quarterly and annual basis, both at the regional and national levels.

"We believe we are the only company in our industry to offer this kind of incentive to its dealers," Staszkow said. "This is a way of letting our dealers know how much we appreciate them, are loyal to them, and rely on them for our success."

For further information about Ciao Software, Inc., please contact T. Jamie Newell, CEO, at [phone] ext. 248; [phone] Cell; or [e-mail].