Corporate Tax Software Provider, Liquid Engines, Hires Key Executives With Experience From PeopleSoft and IBM; Michael Nicosia and Steve Wagner to Lead Sales and Engineering for Fast-Growing Software Innovator.

SUNNYVALE, Calif. -- Liquid Engines, the provider of breakthrough corporate income tax management and planning software, today announced the addition of two key industry veterans to its management team. Steve Wagner has joined as vice president of development and Michael Nicosia has been named vice president of sales. Both Wagner and Nicosia bring deep expertise in building and managing enterprise software companies. These hires strengthen the company's current executive and advisory team of seasoned tax professionals, award-winning economists, and enterprise software executives whose comprehensive backgrounds include companies such as Deloitte, Oracle, and PeopleSoft, as well as the Internal Revenue Service and Stanford University.

"Steve and Michael's leadership will be invaluable as Liquid Engines continues to deliver ground-breaking software to help corporate tax departments optimize tax performance," said Gwen Spertell, president and CEO, Liquid Engines. "Steve's experience in delivering innovative, high-quality products is critical as we expand our product offering to meet the dynamic requirements of corporate tax professionals. Michael's leadership will be key as we build our customer base, expand our sales organization, and solidify our relationships with strategic partners."

Wagner brings more than 20 years of experience building world-class enterprise software applications to Liquid Engines. Most recently, Wagner led multiple engineering teams within IBM's (NYSE:IBM) Business Intelligence division. Wagner joined IBM with the acquisition of Alphablox in 2004. As vice president development and support for Alphablox, he implemented innovative engineering practices that increased product quality and accelerated the development of the company's market-leading analytic application platform. His prior experience includes leading development for Oracle's business intelligence tools, founding Left Coast Software, a maker of financial software, and the production of educational software for The Learning Company. Wagner received his BS from the Massachusetts Institute of Technology and an MBA from Santa Clara University.

"Liquid Engines offers the unique opportunity to build products that revolutionize a business process," said Wagner. "Not only is it exciting to join an organization that values innovation and quality, but it's a rare opportunity to develop breakthrough products that deliver immediate value to customers and help them achieve new levels of efficiency and effectiveness."

Nicosia will oversee the Liquid Engines sales organization and strategic partner relationships. For more than 15 years, Nicosia has been providing Fortune 1000 companies with world-class financial and business analysis software and services. Before joining Liquid Engines, Nicosia spent several years at PeopleSoft, and during his tenure as regional vice president of sales, he was responsible for a 100 percent increase in licenses of the company's market-leading financial software solutions. In addition, Nicosia has served in sales leadership roles in leading companies such as Informatica, J.D. Edwards, Hewlett-Packard, and most recently, Datasweep. Nicosia holds a BS in Marketing from San Jose State University.

"Offering unmatched capabilities and an almost immediate return on investment, it is clear how every major corporation can benefit from Liquid Engines' suite of products," said Nicosia. "I'm excited to be joining Liquid Engines, especially given the company's positive momentum and industry-leading, on-demand technology for corporate tax departments."

About Liquid Engines, Inc.

Liquid Engines is dedicated to enhancing corporate financial performance by empowering today's tax professionals with sophisticated income tax management and planning software. With Liquid Engines' breakthrough technology, CFOs and tax executives benefit from a previously unattainable level of transparency, accuracy, and efficiency. Leveraging Liquid Engines' sophisticated modeling and analysis software, tax professionals are able to conduct rapid, accurate, and comprehensive modeling and analysis, empowering them to achieve an optimal tax profile, and improve the overall efficiency and effectiveness of the tax function. Leading Fortune 1000 companies rely on Liquid Engines to help them reduce tax risks, minimize income tax liability, decrease administrative costs, enhance responsiveness to the business, and meet requirements of Sarbanes-Oxley. Liquid Engines is advised and supported by tax leaders such as Jim Fuller, Larry Langdon, Walter Hellerstein, Prentiss Willson, and Charles Rossotti. Investors include The Carlyle Group, Advanced Technology Ventures, Charles River Ventures, Catamount Ventures, and Oak Hill Venture Partners. For additional information, please visit www.liquidengines.com or call 408-585-9000.