Corio Leads Industry Innovation with Introduction of Corio Express Financials.

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec. 7, 1999--

Corio Responds to Customer Demand for a Hosted Financial Solution

Implemented in Under Two Weeks for No Implementation Fee

Today, the company introduced Corio Express(TM) Financials, an innovative financial application solution for companies who need to move beyond an entry level financials package -- but may not have considered a tier-one application because of cost and lengthy implementations.

The solution is a Peoplesoft Financials application, available over a secure network for a very low monthly fee. Corio's innovation has lowered implementation time to less than two weeks and has substantially reduced hosting costs. Lara Technology Inc., a new Corio customer, is the first company to take advantage of the capabilities within Corio Express(TM) Financials.

Frequently, young, high growth companies struggle with off-the-shelf financial applications. While these packages are effective for a few users, they do not possess the scalability, controls and integration that companies need in order to help them continue to grow rapidly. Furthermore, these companies face financial constraints that make it impossible for them to buy sophisticated business applications and attract and retain the skilled IT staff needed to create and support an IT infrastructure.

Corio Express(TM) Financials offers a painless way to get a tier-one financial package. It provides everything a company needs for a low monthly fee. Customers pay no implementation fee and the application will be live in less than two weeks. The product's out-of-the-box reports and functions are the same as those already in use at the customer site, which substantially reduces the need for training and minimizes start-up costs and business disruption.

"We deployed an off-the-shelf financials application when we first started because we needed something in place right away. And while that package was great for what we needed at the time, it could not scale with us as we've grown. With Corio Express(TM) Financials, we have access to a more scalable, powerful application," explained Ron Shelton, chief financial officer for Lara Technology Inc., a leader in carrier class Voice-over-IP solutions for Next Generation Service Providers.

Corio Express(TM) Financials boasts financial practices standardized along best-in-class parameters. Automated controls are in place to effectively audit and track any financial activity. Corio Express(TM) Financials can be used as a singular financial application, or in conjunction with any of Corio's other applications. Each of Corio's applications are pre-integrated, thereby eliminating any of the high costs associated with seamlessly connecting your enterprise. A customer can automate their business in a modular, `plug & play' fashion in a timeframe that is driven by their needs.

"The price point and short implementation time to get Corio Express(TM) Financials up and running is compelling," continued Shelton. "Equally important was the fact that Corio Express(TM) Financials can give us to access additional applications within the Corio Intelligent Enterprise(TM) when we need them, allowing us to build a completely hosted IT infrastructure."

"Corio Express(TM) Financials is evidence of our innovative approach. We bring leading world-class applications to any company without the large IT costs and infrastructure needed to manage them. To our customer's benefit, we continue to be the leader in the innovation of the ASP model. All levels within our organization are redefining what an ASP is and what an ASP solution should be; Corio Express(TM) Financials is proof of that," said George Kadifa, president and CEO of Corio.

About Corio, Inc.

Corio, Inc. is the leading enterprise application service provider (ASP) for high-growth companies. Corio enables eBusiness by offering integrated application solutions over a secure network for a monthly fee. Corio's integrated suite features BroadVision, Cognos, Commerce One, PeopleSoft and Siebel Systems applications. Customers immediately gain the benefits of a comprehensive eBusiness infrastructure without bringing the associated costs, complexity and IT challenges in-house. A privately held company, Corio is headquartered in Redwood City, Calif., with 15 offices across the U.S. Additional information about Corio is available at http://www.corio.com.

Corio, Corio Intelligent Enterprise and Corio Express are trademarks of Corio Corp. All other product and company names mentioned herein may be the trademarks of their respective owners.