Financial Watch:

IRS Will Utilize Basis100's Automated Valuation Model

Basis100 Inc, an e-commerce technology solutions provider for the financial services industry, announced that the IRS has adopted Basis100's PASS product for assistance in determining an individual's equity in their real property. The PASS product will be used primarily when a taxpayer is requesting an "Offer in Compromise" for outstanding tax balances.

While the "Offer in Compromise" program is not a new program, this process will be much faster and more efficient for both the IRS and the individuals involved. Prior to adopting PASS as its home valuator, the taxpayer was often burdened with having to seek out an independent appraisal. This process would normally take several days, as compared to 5 seconds for the PASS report.

Basis100 has been providing valuation technology to the IRS since March of 2000 in a pilot program. The IRS identified measurable timesavings by utilizing Automated Valuation Model (AVM) technology and determined that automated valuations could replace traditional appraisals in most cases. The IRS subsequently requested competitive proposals from companies to provide the technology on an ongoing contractual basis.

"Our strategy is to provide technology solutions that can scale to just about any application," said Joseph Murin, COO, Basis100. "The IRS contract is evidence of this and more importantly, we now have a large government body outwardly validating automated home valuations, which will go a long way towards influencing overall industry adoption of AVMs."

The IRS will receive an accurate valuation from the Basis100 Web-centric valuation solutions which include a property's estimated highest and lowest reasonable value, the two most recent sale dates and prices, the last assessed value on the home and comparable sales information for three additional neighborhood properties. Provided the valuation is deemed acceptable by the IRS review, a traditional appraisal will not be necessary and the IRS can continue with the processing of the Offer in Compromise application.

This is a one-year contract with four one-year option periods to be exercised at the discretion of the IRS.

About Basis100

Basis100 Inc is a global technology solutions provider, which enables businesses to build, distribute, buy and sell products and services in more efficient and innovate ways. Basis100's lines of business include: Lending Solutions for consumer credit, mortgage origination and processing; Data Warehousing and Analytic Solutions for automated property valuations, property data-warehousing and analytics support; and Capital Markets Solutions for fixed income and equities trading, and settlement and clearing. Our solutions are installed in over 36 countries and 5 continents around the world. For more information about Basis100, please visit www.Basis100.com.

Contact Basis100 Inc, Terri Muccilli-Oswald, 416-953-4936, tmuccilli-oswald@basis100.com.

Informatica Data Integration Platform Selected by Navy FMSO

Informatica Corporation, a leading provider of enterprise analytic software, announced that the Navy Fleet Material Support Office (FMSO), an integral part of the U.S. Navy, has implemented the Informatica data integration platform in support of an Integrated Data Environment (IDE) initiative designed to help the organization obtain better control over its vast data scattered across many different sources.

The Informatica data integration platform helps enable upper management to accurately view critical data to ensure the Fleet gets the supplies it needs. FMSO uses the platform to transport data from the staging environment to an operational datastore database. The organization then uses the Informatica solution to transport the information to the data warehouse for the Fleet and Industrial Supply Centers (FISCs), the Naval Inventory Control Point (NAVICP) and Naval Supply Systems Command (NAVSUP) headquarters. The FISCs provide a variety of logistics support services and products to Navy and other military customers around the globe, including material management, contracting, transportation, fuel services, customer service, and hazardous materials management.

"Having a proven track record of data integration platforms within the Federal government, we understand that the FMSO must deliver service and value to its customers in an efficient, timely manner," said Diaz Nesamoney, president and COO of Informatica. "We are pleased the Informatica data integration platform has won the confidence of the FMSO based on the platform's ability to manage and provide access to enormous amounts of data located in different formats in a variety of locations around the world."

About FMSO

FMSO, a major field activity of the Naval Supply Systems Command, serves a worldwide customer base. As a premier Central Design Agency (CDA), the organization employs today's technology to bring solutions to business challenges. FMSO applies these solutions across a wide environmental spectrum; e.g., multi-tiered client-server, mini-computer, mainframe, LAN/WAN, Internet/WWW, and stand-alone platforms. FMSO has a multi-skilled workforce of over 880 employees and employs a broad range of information technology solutions across a wide functional and technical spectrum. FMSO's innovative contributions have significantly contributed to the performance of the integrated global supply system and enhanced the readiness of our Naval forces.

About Informatica

Informatica provides enterprise analytic software that enables decision makers to transform business insight into competitive advantage. Informatica offers the industry's only integrated enterprise analytics suite, including a powerful data integration platform, cross value chain analytic applications, and real-time delivery of analytics via Web, wireless and voice. More than 1,460 customers worldwide, including 60 percent of the Fortune 100, rely on Informatica software to integrate, analyze, personalize and deliver critical information to managers, executives and other decision makers to optimize business performance.

Our list of global customers includes 3Com, AMD, American Airlines, BMW, BP Amoco, Brocade, Brunswick, Cisco, Deutsche Bank, eBay, General Electric, Hewlett-Packard, MetLife, Motorola, Nestle, Nokia, Orbitz, Philips, Polo Ralph Lauren, Sprint, UBS, the U.S. Department of Justice, the U.S. Postal Service and Washington Mutual. For more information, visit the Informatica Web site at www.informatica.com.

Contact Informatica Corporation, Samantha Moore, 650-385-5259, smoore@informatica.com.

Network Appliance Selects Cognizant to Manage Its DW

Cognizant Technology Solutions Corp, a leading provider of custom software development, integration and management services, announced that it has been selected by Network Appliance Inc to manage the company's core data warehouse through a long-term outsourcing agreement.

Cognizant is managing an enterprise data warehouse for Network Appliance that supports the company's business operations. Recognized throughout the industry for its application and data management expertise in the financial services, insurance, healthcare and retail industries, Cognizant is the winner of the 2000 Best Practices Award from the Data Warehouse Institute.

"Our strategy is to have most maintenance and application management done by outside partners," said Ric McCormick, Senior Director of Business Process and Systems Development at Network Appliance. "We chose Cognizant because of their extensive data warehousing expertise and because their unique offshore/onsite model provides us with responsiveness, high-quality, and fast turnaround as well."

"The pace of blue chip companies seeking long-term strategic partners for large-scale offshore outsourcing services is accelerating," said Kumar Mahadeva, Chairman and CEO of Cognizant. "Large companies are seeking cost-effective ways to gain fast ROI on all their information technology systems, and are expanding the type and number of systems suitable for outsourcing. Cognizant's track record of providing around-the-clock data warehousing support through our unique model was a key factor in winning Network Appliance's business."

About Cognizant Technology Solutions Inc

Cognizant Technology solutions is a leading provider of custom software development, integration, and management services that link e-business and core information systems for companies worldwide. Cognizant operates under a high quality, high value onsite/offshore model that enables better, faster and more cost effective deployment of large-scale systems across a wide range of transaction-intensive business needs.

Its more than 3,900 employees are committed to partnerships that sustain long-term, proven value in order to win in today's global marketplace. Cognizant was listed as one of the "Best Small Companies in America," by Forbes and as the top solutions provider and one of the top 200 Hot Companies by Business Week. Cognizant has been assessed at SEI/CMM Level 5, the highest possible rating. For more information, visit Cognizant on the Web at www.cognizant.com.

Contact Cognizant Technology Solutions Corp, Teaneck, Larry Gordon, 201-678-2743.

Sand Announces $3M CRM Analytics Contract

Sand Technology Inc, a global provider of CRM solutions, announced the signing of a $3 million (CD) contract with a large European telecommunications provider. Sand's experts will utilize Sand's patented Nucleus technology to implement a CRM system that will give the telecommunications firm a 360° view of each customer.

"This contract is a significant win for both of us," said Duncan Painter, president of Sand EMEA.

"Today, companies must have a comprehensive view of each customer so that they can retain the profitable ones and cross-sell and upsell additional services to their most important segments. Our new customer wins because only Sand's expertise and technology can deliver this powerful and user-friendly CRM Analytics system so quickly and cost effectively, with a rapid ROI. This is an investment that will pay for itself many times over," Painter explained.

"In a difficult economy, this contract is also a major win for Sand. It proves once again that our comprehensive offering of services, technology and processes makes sense for companies that need to solve important business challenges. Sands unique capability to deliver solutions very rapidly assures the quick ROI that is so critical for projects in this economy." Painter concluded.

About Sand Technology

Sand Technology, www.sand.com, provides Information Integration" solutions that help organizations cope with data overload, by giving them rapid access to the information they need to make the right business decisions. Sand's solutions are built upon its unique Nucleus data management system that enables "next generation" analytical functionality. Nucleus leverages the organization's existing IT infrastructure, requires no additional human resources, and delivers business value quickly -- resulting in a rapid return on investment. Sand's solutions have been applied in a wide variety of business environments including: CRM and CRM analytics, Web analytics, healthcare analytics, supply chain management, inventory & production optimization, financial analysis, and strategic planning. Sand Technology has offices in the United States, Canada, the United Kingdom and Central Europe.

Contact Hellena Smejda, WordsWorth International, 815-736-9902, hellena.smejda@sand.com.