Covasoft Expands Management Team, Adds Chief Financial Officer; E-Business Applications Management Innovator Draws on New CFO's Substantial Experience.

Business Editors & High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--Oct. 1, 2001

Covasoft Inc., an innovator of e-business applications management solutions, today named Michael P. Dansby, formerly CFO at Austin-based Question Technologies, as its chief financial officer.

Dansby brings to Covasoft significant financial management expertise gained from his 17 years of experience with both start-up companies and multinational Fortune 500 organizations. Dansby will direct all financial and administration activity for Covasoft as it continues on its leadership path to define the e-business applications management software marketplace.

"Michael Dansby's how-to knowledge of financial management is a welcome addition to the growing Covasoft executive team as we strive to achieve aggressive growth and profitability goals in the coming months," said Mike Vollman, CEO of Covasoft. "He's literally done it all -- from spin-offs to mergers and acquisitions, from financial planning to global strategy development. We'll look toward Michael in the coming months to manage our short-term goals as well as our long-term financial vision."

Covasoft's solution, CovaOne(tm), is the first truly prescriptive system that detects problems both within and between your application and its supporting IT components.

CovaOne is unsurpassed in its ability to pinpoint, diagnose and resolve problems in real-time giving you a single view of the health of your entire system.

Prior to joining Covasoft, Dansby worked as CFO at Question Technologies, a collaborative commerce company, with responsibilities for mergers and acquisitions, treasury, accounting, contract management, human resources, recruiting, IT and facilities. Previously, Dansby oversaw all accounting and financial planning for Trilogy Inc., another Austin-based technology company. In this role, he also created and developed processes to support the company's Internet retail sales.

Before moving to Austin, Dansby held a variety of positions over a nine-year tenure with United Technologies Corporation. From 1995 to 1999, he was CFO for UTMC Microelectronic Systems Inc., a subsidiary of United Technologies that designs and manufactures semiconductors and circuit card assemblies for aerospace applications. He also held other positions in business planning and analysis, advanced programs and global strategy development for United Technologies.

Dansby began his career as a senior accountant with Arthur Andersen & Company upon receiving his bachelor's degree from the University of California, Santa Barbara. Dansby also holds a master's degree in business administration from The Wharton School at the University of Pennsylvania.

About Covasoft Inc.

Covasoft Inc. is defining the category of e-business applications management by delivering the first truly prescriptive system that rapidly detects problems within and between e-business applications and supporting IT components: Web servers, application servers, databases, operating systems, and other related applications. Covasoft's CovaOne software utilizes a unique and powerful Knowledge System that immediately diagnoses the root cause of system troubles and recommends appropriate resolutions, ensuring that your e-business applications operate at an unparalleled level of availability and performance. Headquartered in Austin, Texas, Covasoft was founded in 1999 and is funded by Austin Ventures, AV Labs, HLM Management, Techxas Ventures, and Trellis Partners. Covasoft can be found on the Web at www.covasoft.com

Covasoft and CovaOne are registered trademarks or trademarks of Covasoft Inc.

All other company and product names may be trademarks of the respective companies with which they are associated.

(c) 2001 Covasoft Inc. All Rights Reserved.

Photo of Michael Dansby is available upon request.