Corporate VAT Management to Integrate Automated VAT Refund Technology with Necho Systems Corp. T&E System.

SEATTLE--(BUSINESS WIRE)--Dec. 6, 1996--Corporate VAT Management (CVM), the makers of AUTO VAT(TM), announced today that it has agreed to a technology alliance with Necho Systems Corp. to integrate automated VAT refund processing with NavigatER(TM), Necho's automated travel & entertainment (T&E) expense management system.

Integrated T&E + VAT refund processing system provides companies with an automated and highly efficient way to identify VAT refundable expenses and generate European VAT refund applications.

"VAT refund processing can be a real pain," said John Powell, president of Corporate VAT Management. "By integrating our technologies, we make VAT refund applications just another report generated by the T&E system.

"This system will allow users to efficiently gather only those invoices which generate meaningful refunds. Thanks to AUTO VAT, processing is reduced to simply matching the invoice information with that already keyed into the T&E system."

Benefits of the integrated system include:

-- automatically identifies all VAT refundable expenses in a

single expense report

-- easily locates original invoices for processing

-- determines the higher valued invoices before undertaking any

processing effort

-- pre-populates refund applications with T&E expense information

-- eliminates random searches through archived expense files

-- eliminates costly processing effort for unknown returns

-- eliminates intrusive visits from out-of-house refund

consultants

T&E clients have the option to manage the VAT refund processing activity themselves or to outsource the activity through Corporate VAT Management's automated service bureau.

"Either way the client will see a substantial increase in the value of their VAT refund for two reasons," according to Mark Kotzer, director of sales and marketing.

"One, this system will identify ALL the VAT refundable expenses as they pass through the T&E system as opposed to the ad hoc method used today of searching manually through expense files and two, this system will substantially reduce the cost of refund processing whether we do it or whether the client opts to process themselves."

Necho Systems' Kim Layne adds, "we speak to organizations daily that forgo cost savings opportunities like reclaimable taxes because the manual burden associated with capturing and tracking VAT simply outweighs the return. By using the combined technology and services of Necho and Corporate VAT Management, these organizations can directly, and often significantly, impact their bottom-line by recovering these foreign taxes."

AUTO VAT is a Windows(R)-based system which fully automates VAT refund processing. AUTO VAT processes travel expense information and automatically generates VAT refund applications in the appropriate language and according to the particular tax rules and regulations of the application country. A single-user license sells for $995.

A multi-client license designed to allow travel agents, T&E expense consultants, and accountants to provide VAT refund services to their clients sells for $9,950.

Headquartered in Missisaugua, Ontario, Necho Systems Corp. provides automated solutions to streamline enterprise administration and accounting related to travel and employee expense processes. Necho's proven solution -- NavigatER -- is regarded by leading North American organizations as the "Best-in-its-Class" software to automate the enterprise travel and employee expense process.

Corporate VAT Management has, for over two years, focused on providing technology solutions to help applicants maximize their refund benefit 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 an 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 -0-

AUTO VAT is a trademark of Corporate VAT Management.

NavigatER is a trademark of Necho Systems Corp.

Windows is a registered trademark of Microsoft Corp.

CONTACT: Corporate VAT Management

Mark Kotzer, 206/292-0300

Director of Sales & Marketing

[e-mail]

or

Necho Systems Corp.

Kim Layne, 613/780-1361

Director, Alliances and Marketing

[e-mail]