OutlookSoft Raises Additional $19 Million

OutlookSoft Corporation, developer of the market's first enterprise analytic portal, has closed its third round of funding through the sale of Series C preferred stock totaling $19 million. GE Equity led the round with Merrill Lynch Ventures, ML Taurus, and Pequot Private Equity also participating. With this round of funding, OutlookSoft expects to reach profitability.

OutlookSoft solutions lead emerging enterprise analytic portal market

In March, OutlookSoft announced the availability of its Enterprise Analytic Portal (EAP). This solution is the first to provide the benefits of both portal and business analytic applications at every user's desktop. OutlookSoft EAP facilitates the bi-directional data collection, analysis, and communication of information contained in multiple internal and external data stores, thereby closing the loop between analysis systems and transactional systems.

In addition to OutlookSoft EAP, the company released Financial Planning and Analysis (FPA), the first application module built on its EAP foundation. OutlookSoft FPA provides in-depth financial planning and performance management reporting. OutlookSoft currently has other application modules under development, including customer planning and analysis, scheduled for delivery this year, followed by supply chain management and human resource planning and analysis. Each module will address a specific application data type and be built to capitalize on OutlookSoft EAP's extended portal capabilities.

"OutlookSoft's growing customer base is driven by its leading-edge technology, experienced management team, and ability to provide unique analytic solutions," said Kathy Konopka, vice president, GE Equity. "In today's turbulent markets, managers can benefit from the dynamic real-time analytics that OutlookSoft provides."

Industry report points to continued growth

A recent IDC report titled Analytic Applications Market Forecast and Analysis: 2000-2004 by Henry Morris, IDC vice president for Applications and Information Access, projects the worldwide market for packaged analytic applications will grow at a 28 percent compound annual rate from 2000 through 2004.

OutlookSoft management believes the growth of this space is fueled by more companies seeking to gain process efficiencies and make higher-quality business decisions with the adoption of e-business analytical software solutions like OutlookSoft EAP and FPA.

"With corporate America demanding better ways to analyze and act on information, and OutlookSoft leading the enterprise analytic portal marketplace, it is the perfect time for our technology to have a significant impact in this marketplace," said Craig Schiff, president and CEO of OutlookSoft. "The support and vote of confidence given to OutlookSoft by GE Equity, Merrill Lynch Ventures, ML Taurus, and Pequot Private Equity gives our company the resources we need to further extend our reach throughout the marketplace."

Rapidly Growing Customer Base

OutlookSoft delivers the combined enterprise analytic portal and financial planning and performance management functionality to a wide range of global companies, including Bank Leumi, BenefitPort, Brand Direct Marketing, Centex HomeTeam Services, Cinergy Corporation, Cingular Wireless, Countrywide Credit, Dell Computer Corporation, Depository Trust, ESCO Corporation, First Union, Four Seasons Hotels and Resorts, Gannett Newspapers, General Bandwidth, High Voltage, Hilite Industries, MacArthur Foundation, Massachusetts Mutual, MBIA Inc, Midwest Wireless, Radio Frequency Systems, Republic Services Inc, Source Medical, SPL Worldgroup, The BISYS Group, Thomson Financial Inc, TicketMaster, Verizon Data Services, and VHA.

About OutlookSoft Corporation

OutlookSoft Corporation develops, distributes, and services analytic portals and Web-based planning and performance management solutions that encompass all departments and levels throughout the enterprise. Its solutions enhance the collection, analysis, reporting, and communication of critical information from both internal and external data repositories to help organizations create effective plans, disseminate analytic information, and manage their performance in support of their strategic plans. OutlookSoft is a full-service vendor providing consulting, training, implementation services, and ongoing product support. OutlookSoft is headquartered in Stamford, Conn. To learn more, call 203-964-3100 or visit www.outlooksoft.com.

About GE Equity

GE Equity, a subsidiary of GE Capital, is the private equity arm of GE. GE Capital, with assets of more than US$370 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 24 businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Connecticut, provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 47 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide.

About Merrill Lynch Ventures and ML Taurus

Merrill Lynch Ventures and ML Taurus Inc are New York-based wholly owned subsidiaries of Merrill Lynch & Co Inc, and serve as General Partners and Investment Advisors to Merrill Lynch Ventures L.P. 2001 and Merrill Lynch Taurus 2000 Fund, L.P., respectively. The two funds are limited partnerships formed exclusively for investment by employees of Merrill Lynch & Co, Inc, its subsidiaries and affiliates. The partnerships seek to invest in privately offered equity investments in both U.S. and non-U.S. issuers. Investments have included securities issued in conjunction with financings of companies in an early stage of development, primarily in the technology, telecommunications and healthcare industries.

About Pequot Private Equity

Pequot Private Equity is the venture capital arm of Pequot Capital Management Inc, a leading investment firm with more than $10 billion under management in 23 funds. Leveraging Pequot Capital's in-depth global research, market access and proven lifecycle investment expertise, Pequot Private Equity helps earlystage start-ups and emerging companies build a sustainable competitive advantage in fast-moving technology markets. Pequot Private Equity invests in young and growing companies pursuing leadership in such dynamic market sectors as telecommunications and network infrastructure, eBusiness, and technologyenabled healthcare. Pequot Capital manages investments across all stages of a portfolio company's growth, from start-up to maturity. Pequot Capital is 100% employee-owned and has offices in New York, Westport, and San Francisco. For more information, please visit www.pequotcap.com.

Contact OutlookSoft Corporation, Peter Dresch, 203-964-3100 x151, pdresch@outlooksoft.com.