Corporate VAT Management Offers New Regionalized Versions of Automated VAT Refund Software.

SEATTLE--(BUSINESS WIRE)--Oct. 21, 1998--Corporate VAT Management (CVM) today released new regionalized versions of AUTO VAT(TM), its Windows(R)-based value-added tax (VAT) reclaim software.

The reconfigured VAT refund program divides Europe into five country groups, allowing a company to choose the combination of countries that reflects its most frequent areas of travel.

"We are constantly on the lookout for our client's needs," said John Powell, President of Corporate VAT Management. "Our goal is to provide a VAT refund system that makes sense-logically and economically. Allowing companies the ability to customize AUTO VAT to their particular expense patterns makes sense. If you only travel to the UK and Germany, you only need to license AUTO VAT for those regions. As your business activity grows, you can always expand your license coverage."

The base annual license for AUTO VAT starts at $595 for the software and one primary country group (see groupings below). Each additional country group adds $200/year.

Country Groupings:
German         English    Scandinavian    Benelux       Mediterranean

Germany        UK         Sweden          Netherlands   Spain
Austria        Ireland    Denmark         France        Portugal
Switzerland    Canada     Finland         Belgium       Greece
Italy                     Norway          Luxembourg    Italy

AUTO VAT automates VAT refund processing so that European and Canadian VAT can be easily recovered - without becoming an international tax expert or hiring an outside firm. AUTO VAT guides the user through each stage of the refund process, ensuring that the applicant meets a country's specific tax rules and regulations. Once the invoices have been entered into the system, the program automatically generates fully completed refund applications in the language of the local tax authority.

A free, no-obligation copy of AUTO VAT is available upon request. The evaluation copy allows companies to fully test the program and generate a good estimate of their refund potential before making the purchase decision.

Corporate VAT Management, founded in 1994, provides technological solutions that enable companies to maximize their refund potential while minimizing their refund effort. CVM, with headquarters in Seattle, is working with corporate T&E system providers, travel agents, accounting firms and meeting planners to make VAT refunds and automatic part of business travel to Europe. For more information on CVM's products and services, visit its Web site at http://www.corporatevat.com or e-mail [e-mail].

AUTO VAT is a trademark of Corporate VAT Management Windows is a registered trademark of Microsoft Corporation.