Hyperwave's Knowledge Management Software Transforms Internal Communications at Bank Austria Creditanstalt Group.

Business/Technology Editors

BOSTON--(BUSINESS WIRE)--June 27, 2001

Bank Austria Builds Intranet, Linking 600 Branches, More Than

12,000 Staff Nationwide

More than 12,000 staff at Vienna-based Bank Austria Creditanstalt Group can now access information anywhere in the organization using a comprehensive intranet solution based on Hyperwave Information Management Inc.'s knowledge management software. Making information instantly available through the company's Intranet, the Hyperwave Information Server has eliminated the need for couriers and faxed memos and has transformed the way in which information is relayed between teams and employees in the Bank Austria Creditanstalt Group and its 600 branches.

The Intranet solution was designed to provide comprehensive online help for the bank's decentralized workplace systems. Content needed to be accessed directly from applications on a context-related basis and Bank Austria Creditanstalt Group required an efficient information service that would be available to all employees.

"Our employees now have optimal access to permanently up-to-date information and our bank is now benefiting from considerable cost savings by using the knowledge management solution," said Gerhard Edl, head of Information and Communications Systems in the Bank Austria Group. Currently the Intranet is divided into five main categories: News, Product Information, Processing, Data & Facts and Service.

In total, 12,400 users will be able to access 130,000 static HTML documents, image, graphics and PDF files on a cross-location basis. Access to 1,850 comprehensive product descriptions with relevant information and all in-bank processes and system documentation will also be possible.

Hyperwave's solution automatically manages and structures content as it is added. Dynamic hyperlinks ensure that information is constantly updated as documents are added, amended or removed, providing users with connected and continuously updated information. Information can be actively linked across categories and links can be easily identified by all users, allowing information to be used efficiently.

According to Edl, "When choosing an Intranet solution, link management was a decisive factor. We needed to reduce expenditure and any possible sources of error. Users always know where to find information since the hyperlinks remain intact if objects are moved or renamed. If objects are deleted, the links will be removed by the system. Moreover, users only see the content they are meant to and do not see links to information which they are not authorised to see."

The Hyperwave Information Server guarantees optimal content recoverability with its hierarchical structure, separation of document content and additional attribute based information. A benefit of this type of solution is that the individual information objects are only dealt with once. For example, changes in the personnel system automatically change and update the content displayed in the Intranet without any manual maintenance work.

Another requirement during the development of the Intranet was the ability to access authoritative, company-relevant information. Since the knowledge management system was implemented, the relevance, quality and speed that information is distributed across the company has significantly improved. Specially implemented push technology means that employees receive the information that is relevant to them. For example, Bank Austria currently targets groups, each comprising 3,000 to 4,000 recipients, with a group-specific email newsletter that also has additional links to the Intranet. All news articles are automatically archived for subsequent retrieval.

Terry Jordan, VP Worldwide Marketing at Hyperwave, said, "With the implementation of the new Hyperwave Intranet, we believe we have moved Bank Austria's working environment one step closer to the paperless office ideal. By adopting a comprehensive knowledge management solution, Bank Austria can now harness the full potential of its corporate knowledge."

About Bank Austria Creditanstalt Group

Bank Austria was formed in 1991 following a merger between the "Zentralsparkasse" and "Landerbank" banks and is now Austria's biggest and most profitable banking group. The group employs 18,787 people world-wide and has a customer base of 1.7 million private customers and approximately 50,000 business accounts in 650 Austrian and foreign branches. One out of five Austrians and 80% of large Austrian businesses conduct their financial business with the group.

Bank Austria has recently partnered with HypoVereinsbank (HVB-Group), the largest real estate financier in Europe and Germany`s second largest bank, serving more than 8 million customers.

About Wave Solutions Information Technology and IT Austria

WAVE Solutions Information Technology is responsible for the Bank's entire system architecture, including development and maintenance as well future projects relating to data processing and customer interfaces. In February 2001, the group began the process of centralising the organisational and IT-departments for the HVB Group.

Data Austria and Informations-Technologie Austria (iT-Austria) is responsible for maintaining regular bank business, e-business and continuous development activities. iT-Austria maintains the main data processing centre of the bank.

Data Austria is Bank Austria Group's service unit for new distribution channels and advises on all aspects of electronic banking and electronic cash management. Incorporating the call centre activities of Bank Austria's former Teleservice, it is one of the most state-of-the-art call centres in Austria. Last year, 590,000 calls were fully answered automatically and 677,000 calls were directed to operators. Data Austria also maintains the group's call centres which deal with all other queries - from telephone banking to direct marketing - for itself as well as for its customers.

About Hyperwave (http://www.hyperwave.com)

Founded in 1997, Hyperwave is a global company providing enterprise-class knowledge management, corporate portal, and e-learning software that enables customers to better collect, manage, organize, store, and deliver electronic information both within the enterprise and to suppliers, distributors and customers. Hyperwave products -- the Hyperwave Information Server, Hyperwave Information Portal, and E-Learning Suite -- are unique in offering customers a total knowledge infrastructure. Hyperwave has its headquarters in Germany with North American headquarters outside of Boston. It also has offices in the UK, France, and Switzerland, and an R&D center in Austria. Among its customers are DaimlerChrysler, European Commission, McCann-Erickson, Motorola, R+V Insurance, Siemens, UBS, and the US Department of Defense.

All companies and products listed herein are trademarks or registered trademarks of their respective holders.