SRC Software Enters Latin American Market With New Partnership in Mexico; Former SRC Client To Market Company's Advisor Series Budgeting Software.

Business/High Tech Editors

PORTLAND, Ore.--(BUSINESS WIRE)--Feb. 12, 2002

SRC Software, the leader in providing flexible solutions for enterprise budgeting and financial planning, has announced its entry into the Latin American market through a partnership with Soluciones Innovadoras de Planeacion S.C. (SIP Soluciones).

This partnership will allow SIP Soluciones to market, sell and implement SRC's Advisor Series(TM) financial planning software to mid-to-high-end enterprises throughout Mexico and Latin America.

SIP Soluciones is a new company founded by Fernando Maltos and Jose Luis Diaz, two former SRC clients who were responsible for selecting and implementing the Advisor Series within Gruma S.A. de C.V., a $2 billion food manufacturer. Mr. Maltos and Mr. Diaz implemented the first Advisor Series system in Mexico, followed by implementations in Costa Rica and Venezuela.

"The principals in SIP Soluciones have a great deal of experience launching and using SRC's software in the region, in more than five different companies," Mr. Maltos said. "Our work with SRC Software and our use of the Advisor Series over the years has proven that companies' planning and budgeting processes can be much more efficient and effective. By partnering with SRC, SIP Soluciones sees a huge opportunity to help Mexican and Latin American companies to improve their financial planning processes."

SRC's Advisor Series is an enterprise financial planning and reporting solution that provides extremely robust and flexible capabilities for budgeting, forecasting, and reporting, features an intuitive and powerful Excel-based interface, and is quick and efficient to deploy.

According to Gary O'Dell, strategic partners general manager, SRC Software, Latin America provides an attractive market for SRC's budgeting products. "Mexico is a growing market for technology products, particularly in the financial planning and budgeting arena," Mr. O'Dell said. "Through the experience embodied at SIP Soluciones, we believe the Advisor Series is positioned to capture significant market share in Mexico and Latin America."

SIP Soluciones is headquartered in Monterrey, Mexico, at Lerma #1850-2, Col. Mitras Centro, Monterrey, N.L., 64460 Mexico. The company can be reached by phone at (011 52 81) 84 78 03 00 or by email at [e-mail] and is located on the Internet at www.sipsoluciones.com.

SRC Software (www.srcsoftware.com) is the leader in providing flexible solutions for enterprise financial planning and corporate performance management. With over 1,200 installations of its multi-platform Advisor Series(TM) in mid- to high-end enterprises, SRC's highly personalized budgeting, payroll planning and multi-source consolidation/reporting solutions are used by companies such as Lands' End, C-SPAN, Harrah's Las Vegas casino and hotel, and Caterpillar Logistics Services Inc.. SRC offers a full complement of financial planning and analysis tools through its unique integration of spreadsheets and industry-leading databases complete with full-scale web deployment. The company is privately held and based in Portland, Ore.; has regional offices in Massachusetts, Michigan and Texas; and distribution channels in more than 16 countries. For more information, contact SRC Software at 800/544-3477 or by e-mail at [e-mail].

Advisor Series is a trademark of SRC Software.