SRC Software Opens Asia-Pacific Headquarters; Unveils Full Suite of Performance Management Solutions.

SINGAPORE -- Enterprise financial planning and corporate performance innovator bolsters worldwide support network, dedicating significant investment in establishing the company's presence in the region

SRC Software, a leading provider of sophisticated enterprise Corporate Performance Management (CPM) solutions, announced today that the company's Asia-Pacific support and sales headquarters has now opened in Singapore. Bolstered by the company's considerable growth in North American revenues during 2004, SRC plans to increase its Asia Pacific customer base exponentially in 2005, targeting companies in the telecommunications, healthcare, retail, financial services and hospitality sectors.

"Opening our Asia-Pacific headquarters in Singapore will enable us to more closely serve our growing customer base in the region, and support our overall goals for global expansion," stated Tom Malone, chief executive officer of SRC Software. "SRC has staffed and hired employees experienced with supporting SRC applications, many who have relationships with current SRC users. The company is making a long-term investment in the people and capital that will propel the organization now and in the future."

To strengthen its move into this region, SRC has appointed a managing director for Asia-Pacific, Partha Sen, who will be responsible for developing local business, while supporting and promoting SRC's performance management solutions throughout the region. Sen will also focus on the expansion of SRC's distribution channel throughout the region, to support new and existing customers.

"SRC is inaugurating its Asia-Pacific presence by establishing its regional headquarters in Singapore, enabling us to create a significant presence throughout the entire region," said Sen. "We are well-positioned to bring tremendous value and service to our customers in this region. There are a significant number of organizations currently using SRC's solutions to great success and we're aiming to increase that number considerably by the end of 2005."

By virtue of the company's direct presence in the Asia-Pacific region, customers will have access to SRC's complete, ten product suite of CPM solutions to perform all of their key planning, reporting, and analysis functions. SRC's unique framework innovatively couples an intuitive Excel user interface with enterprise-scale databases such as Oracle and SQL, providing the easiest and most direct roadmap for organisations that have outgrown their existing solution.

About SRC's CPM Suite

SRC's performance management suite is the first all-in-one Corporate Performance Management (CPM) solution based on a single source code engine. SRC's technology synchronises strategic planning with budgeting and reporting while adapting to virtually any network topology or degree of user sophistication. In addition to a user interface that enables customers to access any planning, budgeting or reporting application from one launch point, every module of the CPM suite features the same look and feel for consistent, intuitive usability.

SRC's solutions can be personalized to the precise look, feel and functionality of the individual user, while maintaining the intelligent and efficient back-end system integration that is critical to a successful performance management initiative. SRC provides access methods that range from robust to simple so that key employees throughout the enterprise can be involved with the planning, reporting and performance management process.

Pricing and availability

SRC's Corporate Performance Management Suite is available immediately throughout the Asia-Pacific region. Each application is available as a discreet offering or the system can be licensed by suite or as a comprehensive corporate performance management solution. For more information, please visit http://www.srcsoftware.com/contactus or e-mail [e-mail].

About SRC Software

SRC Software (www.srcsoftware.com) is the leader in providing flexibility and sophistication for enterprise financial planning and corporate performance management. With more than 2,400 installations in mid- to high-end enterprises, SRC's highly-personalized budgeting, payroll planning and multi-source consolidation and reporting solutions are used by companies such as Singapore Airlines Cargo, Hyundai, Citibank, New Balance, StarHub 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, Oregon. SRC has regional offices in Boston, New York City, Austin, Chicago, San Diego, San Francisco, Atlanta, London, Stockholm, Brussels and Singapore. For more information, contact SRC Software in the United States at 1-800-544-3477 or by e-mail at [e-mail].