Washington Mutual, Inc. - Banks on Account4 for IT Management; Signs 5000 user license agreement.

Business/Technology Editors

NEWTON, Mass.--(BUSINESS WIRE)--Oct. 24, 2000

Account4, a leader in the Web-based professional services automation (PSA) market, announced that Washington Mutual Inc., one the largest and most established financial services institutions in the U.S., has purchased a 5000-user license for Account4's PSA software. Washington Mutual will use Account4(R) to help automate the firm's internal IT work request system. This signing marks a dozen financial services firms worldwide - including Mellon Bank and The Chase Manhattan Bank - currently using Account4.

Washington Mutual is growing at a rapid rate. The company operates more than 2,000 consumer banking, mortgage lending, commercial banking, consumer finance, and financial services offices throughout the nation. In today's world of mergers and acquisitions, it becomes increasingly challenging to keep all of a company's IT work on the same page. Account4's architecture and Web-based technology offer the flexibility to adapt to Washington Mutual's unique processes and reporting needs across the entire organization. The result will be a tailored, easily scalable Web-based IT management solution that streamlines the entire work request process.

Account4 offers large organizations, like Washington Mutual, a cost effective way of implementing such a pervasive management system. The 100% thin-client software requires far less customization time and effort than the client/server or Web-enabled applications offered by other vendors. This often is the deciding factor as groups sift through the PSA alternatives seeking a solution that can model internal business practices.

"In a time when banks are expanding and constantly improving technology for their customers, the right IT management tool is paramount when you seek a competitive edge. Those that adapt the quickest thrive," says John Lucas, Account4 CEO. "Fast-growing banks with geographically dispersed users such as Washington Mutual are consistently finding Account4's Web-based software is the best solution to help standardize the operations of corporate IT groups."

About Account4(R) Software:

Account4 is a fully integrated, Web-based, end-to-end PSA solution grouped into three major areas that mirror the business model of a typical professional services organization (PSO) or corporate information technology (IT) department: Business Development, Service Delivery and Administration. Account4's thin-client (browser only) architecture coupled with a central repository provides users the ability to access, share and collaborate on key data integral to the success of their business.

About Account4:

Account4 (www.account4.com) develops Internet-based software products and services that enable PSOs and corporate IT departments to successfully manage projects and increase the utilization, productivity, effectiveness, and retention of their workforces. Over the past 13 years, Account4 has provided solutions to a premier customer base of over 175 companies representing over 290,000 licensed users.