Redi2 Technologies, Inc.

Principal Global Investors selects Redi2 Revenue Manager™

OAKLAND, Calif. - May 3, 2006 – Redi2 Technologies, a solely dedicated provider of fee billing solutions to the global investment management industry, announced today that the Principal Financial Group has selected Redi2 Revenue Manager™ to automate the billing and revenue management operations of Principal Global Investors.

Redi2 Revenue Manager™ is a comprehensive billing and revenue accounting system used to calculate a broad range of complex fee types such as performance based fees, and securely manage and audit-trail the invoice generation and approval process. The system also has functionality to create management reports on billing and accrual data, manage the accrual generation, approval, and reconciliation process, and then post summarized and detailed fee records to General Ledger and Accounts Receivable systems.

“We are excited about this new relationship with The Principal,” said Seth Johnson, CEO of Redi2 Technologies. “Redi2’s purpose is to continually improve the finance and accounting operations of the global investment management industry and we derive great satisfaction in providing our clients with superior solutions and services that allow them to achieve greater operational efficiency and scalability.”