OPENPAGES AND PRICEWATERHOUSECOOPERS TEAM UP TO REDUCE THE COSTS OF SARBANES-OXLEY COMPLIANCE AUDITS

New Interoperability Between SOX Express and PwC TeamMate Streamlines Section 404 Audits

Waltham, Mass. – August 15, 2005 – OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, and PricewaterhouseCoopers today unveiled new capabilities to further reduce the time and resource costs of Sarbanes-Oxley compliance through interoperability between OpenPages SOX Express and PricewaterhouseCoopers TeamMate.

Interoperability between SOX Express and PwC TeamMate enables companies to leverage the testing and review expertise within their internal audit organizations to further streamline Section 404 audits.

!In Year Two of the Sarbanes-Oxley era, organizations continue to seek ways to remove costs and inefficiencies from compliance processes," said Peter Morgan, vice president of marketing at OpenPages. "Extending SOX Express to be interoperable with PwC TeamMate further enhances our ability to adapt to the way our customers work, allowing them to use their tools of choice to reduce learning curves and maximize efficiency."

PwC TeamMate, a leading audit management system is used by over 36,000 auditors from over 1,000 organizations. When used in an integrated mode with SOX Express, an organization’s internal audit staff can export internal control and plan information documented in SOX Express into PwC TeamMate. Auditors then use PwC TeamMate to audit those controls and export the final results back into SOX Express.

"PricewaterhouseCoopers is pleased to enter into this strategic alliance with OpenPages. We are excited by the possibilities that this alliance opens up for internal audit departments," said Mike Gowell, managing director at PricewaterhouseCoopers. "We strongly believe that the interoperability between PwC TeamMate and Sox Express will drive significant efficiencies into the Section 404 audit process."

OpenPages SOX Express is the market-leading software solution for reducing the time and resource costs associated with ongoing compliance for Sections 302 and 404 of the Sarbanes-Oxley Act. SOX Express combines powerful document management, business process management and flexible reporting capabilities in an extremely easy-to-use environment that enables an organization to document financial controls and automate the end-to-end compliance process. Completely Web-based, SOX Express maximizes end-user participation with little training. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls framework of the company, and to attest to the financial statements.

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