Corio Announces Recent Enterprise Customer Wins.

Business Editors/High-Tech Writers

SAN CARLOS, Calif.--(BUSINESS WIRE)--Oct. 23, 2001

Corio, Inc. (Nasdaq:CRIO), a leading enterprise application service provider, today announced significant customer wins during its third quarter, including Carlson Companies, Gallaudet University, National Gypsum, Terra Lycos, and TXU. Each of these enterprise companies selected Corio for Corio's enterprise application management expertise.

-- Carlson Companies (www.carlson.com) is a global leader in the relationship marketing, travel, and hospitality industries with over 192,000 people employed under its brands and services. Corio will implement Carlson's Human Resources and Payroll solutions and provide ongoing application management during the implementation.

-- Gallaudet University (www.gallaudet.edu) is the world's leading university for deaf and hearing-impaired students. Corio will upgrade its public sector Financials solution, migrate the application to Corio's ASP model, and provide ongoing application management for the university.

-- National Gypsum (www.nationalgypsum.com) is the second-largest manufacturer of gypsum wallboard in the United States. Corio will upgrade the solutions, migrate to Corio's ASP model, and provide ongoing application management for its Financials, Human Resources, and Payroll solutions.

-- Terra Lycos (www.terralycos.com), a global Internet powerhouse, is one of the most popular Internet networks in the U.S., Canada, Europe and Asia and is the leading portal to Spanish and Portuguese-speaking markets. As part of a global deployment, Corio will upgrade and provide ongoing application management for its Financials application.

-- TXU Corp. (www.txu.com) is the world's ninth largest energy company and global leader in energy and energy services. Corio will implement and manage its customer relationship management application for the energy industry.

"Corio provides us access to a highly skilled technical team, as well as proven application expertise with enterprise applications. Corio's implementation methodology will expedite the rollout of our new system and their application management resources will alleviate our need to hire the IT skills in-house, reducing our total cost of ownership by 25%," said Bill Parmelee, chief financial officer of National Gypsum.

"These new enterprise customer wins demonstrate that Corio's ASP model adds value across many industry lines from brick and mortars to educational institutions and service industry leaders. We are committed to delivering value through the highest quality application management services to our customers. These recent achievements provide further evidence that Corio is building a strong customer base and will be a player in the permanent economy of the future," said George Kadifa, president and CEO of Corio.

For more information about Carlson, National Gypsum and Gallaudet University customer wins, please reference detailed press releases previously issued by Corio.

About Corio, Inc.

Corio (Nasdaq:CRIO), a leading enterprise application service provider, delivers best-of-breed enterprise applications over a secure global network for a fixed fee. Corio's experts deploy and manage applications from leading software vendors such as PeopleSoft, Oracle, SAP and Siebel Systems. Corio designs and deploys scalable, one-to-many architectures built using world-class infrastructure. Corio SRVCE(TM) enables customers to achieve superior speed, reliability, visibility, control and economics for their enterprise applications. Corio is located in San Carlos, California. Additional information about Corio is available at http://www.corio.com.

Forward Looking Statements:

Matters discussed in this release involving expectations, beliefs, plans, projections, intentions, future events or strategies are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and are made under their safe-harbor provisions. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements herein include statements regarding the benefits provided to Corio and to its customers in connection with the matters discussed in this release and the ongoing nature of relationships discussed herein and of the services to be provided. Some of the specific factors that may cause actual results to differ include: the fact that the ASP industry is a new industry with a rapidly-evolving business model, uncertainties in the current macroeconomic environment, changes in requirements and circumstances of relationships and the parties' ability to adapt services for rapidly changing technology. Additional risks that could cause actual results to differ materially from those projected are discussed in the parties' public filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The parties undertake no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.