Corio Successfully Migrates and Upgrades Hitachi America to SAP R/3 Release 4.6; Corio Delivers Accelerated Upgrades and Applications Management for Customized SAP Solutions.

Business Editors/High-Tech Writers

SAN CARLOS, Calif.--(BUSINESS WIRE)--Aug. 13, 2001

Corio, Inc. (Nasdaq:CRIO), a leading enterprise application service provider and Certified Hosting Partner of SAP America Inc., today announced that it has successfully upgraded Hitachi America's highly customized deployment of the SAP(R) R/3(R) solution to Release 4.6 and migrated the application to Corio's data centers. The project was completed flawlessly in eighteen weeks without interruption to Hitachi America's ongoing business.

Corio's team of experts used the Corio FastLane methodology for SAP solutions to mitigate risks and expedite the project timeline for the migration and upgrade of Hitachi America's highly customized SAP R/3 software solution. By utilizing Corio's proprietary tools, Corio was able to quickly and effectively assess the upgrade requirements and define a fixed price, scope, and timeline. Going forward, Corio is responsible for the applications management and maintenance of the SAP R/3 solution and for implementing standards across the enterprise to streamline business flows and make the system more manageable.

"Corio's team of experts pulled off the migration and upgrade flawlessly," said Mas Ishigaki, general manager of Information Technology Group at Hitachi America. "The central command center they arranged gave our users access to quick resolution of problems and helped meet our service level expectations. It also gave our IT organization the ability to make the project flow seamlessly."

Hitachi America customized and deployed SAP R/3 to four major divisions at their three primary facilities and numerous smaller sites throughout the United States. The critical customizations that were identified and addressed during the upgrade include:

      --  Over 140 user exits
      --  Over 40 custom inbound and outbound EDI processes
      --  More than 800 custom ABAP(R) programs
      --  In excess of ten business critical interfaces including Vertex
      --  Approximately 100 custom data dictionary objects

"By leveraging our tools and methodologies to manage customized systems, we provide customers like Hitachi America accelerated upgrades and enterprise applications management services," said George Kadifa, president and CEO of Corio. "We are committed to providing our customers high quality services for SAP applications."

About Hitachi America

Hitachi America, Ltd. markets and manufactures a broad range of electronics, computer systems and products, consumer electronics and semiconductors, and provides industrial equipment and information and manufacturing services throughout North America. For more information, visit http://www.hitachi.com.

About Corio, Inc.

Corio (Nasdaq:CRIO), a leading enterprise application service provider, delivers, hosts and manages best-of-breed applications and infrastructure services. Corio's application suite, the Corio Intelligent Enterprise, features leading vendors such as Commerce One, E.piphany, PeopleSoft, Oracle, SAP and Siebel Systems. Corio's infrastructure suite, the Corio Intelligent Infrastructure, features modular application delivery and support services. Corio is headquartered in San Carlos. 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, 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. Forward-looking statements herein include statements regarding the ongoing relationship between Corio and Hitachi America and Corio and other Corio customers discussed herein; and the benefits of such relationships and the Corio FastLane methodology to Corio, Hitachi America and to other Corio customers. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Some of the specific factors that may cause actual results to differ include: Corio's limited history of offering ASP services in general and the Corio FastLane methodology in particular; the fact that Corio operates in a new industry with a rapidly-evolving business model; Corio's dependence on demand by customers for the Corio FastLane methodology and other services provided by Corio, and uncertainty around such demand. Additional risks that could cause actual results to differ materially from those projected are discussed in Corio's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. Corio undertakes 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.

Note to Editors: Corio is a trademark of Corio, Inc.

SAP, R/3, ABAP and all SAP product and service names mentioned herein are trademarks or registered trademarks of SAP AG in Germany and several other countries.

All other product and company names mentioned herein may be the trademarks of their respective owners.