OPENPAGES SOX EXPRESS 3.1 INTRODUCES NEW CAPABILITIES TO FURTHER REDUCE THE TIME AND RESOURCE COSTS OF SARBANES-OXLEY COMPLIANCE

Market-Leading Sarbanes-Oxley Compliance Application Raises the Bar
with Enhanced Reporting & Dashboards, Integration with Third-Party Applications

Waltham, Mass. – August 15, 2005 – OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced the availability of SOX Express 3.1, the newest version of the company's market-leading application for compliance with Sections 302 and 404 of the Sarbanes-Oxley Act. Available now, SOX Express 3.1 streamlines corporate compliance efforts through new integration with best-of-breed third-party applications, enhanced dashboard and reporting capabilities and further enhancements to the products’ unparalleled ease-of-use and administration.
"SOX Express 3.1 continues OpenPages’ tradition of working closely with its customer base to develop and introduce new capabilities for sustainable compliance," said Patrick O’Brien, director of product management at OpenPages. "In this newest release, OpenPages has implemented a number of enhancements that continue to ease the burdens of compliance while improving business decision support throughout the company."

OpenAccess API Streamlines Integration with Third-party Compliance Applications
With SOX Express 3.1, OpenPages introduces OpenAccess, the company’s web-services-based application program interface (API). With OpenAccess, OpenPages customers can easily, securely and seamlessly integrate SOX Express with best-in-class applications, such as audit workpaper, continuous controls monitoring and automated controls testing. The bi-directional data exchange enables customers to incorporate specialized applications into compliance processes for greater time and cost savings.

Examples of OpenAccess integration, also announced today include:
 OpenPages and PricewaterhouseCoopers unveiled interoperability between OpenPages SOX Express and PricewaterhouseCoopers TeamMate, the industry standard in audit management software. 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. (See "OpenPages and PricewaterhouseCoopers Team Up to Reduce the Costs of Sarbanes-Oxley Compliance Audits," 8/15/2004.)

 OpenPages and Greenlight Technologies, today announced new capabilities for SOX Express that provide OpenPages customers the ability to fully automate many manually intensive IT controls commonly required for Sarbanes-Oxley compliance. Available immediately, Greenlight for SOX Express provides companies with more than 1,500 control automations for leading enterprise applications including Oracle, SAP and Peoplesoft. (See "OpenPages Reduces Cost of Sarbanes-Oxley Compliance with Advanced Automation Capabilities," 8/15/2004.)

 OpenPages and Oversight Systems today announced new capabilities for continuous monitoring of Sarbanes-Oxley processes. The combination of OpenPages’ SOX Express and Oversight 3.5 will enable organizations to merge internal controls test and review information with real-time transactions and business activities in financial systems to prevent risk, fraud and error in core business processes including Order to Cash; Procure to Pay; Employee Pay; Financial Accounting and Reporting; and Capital Projects and Fixed Assets. (See "OpenPages and Oversight Systems Partner to Provide real-time transaction inspection for sarbanes-oxley compliance," 8/15/2004.)

Enhanced Dashboards and Reporting with OpenPages CommandCenter
SOX Express 3.1 also features CommandCenter, an enhanced suite of executive dashboards and reports designed to accelerate review and approval of governance, risk and compliance management (GRCM) information throughout the enterprise. CommandCenter provides management with a graphical view into the current state of their organization’s internal controls framework and potential risk exposures, providing complete confidence in the effectiveness of GRCM initiatives.

More than a static snapshot, CommandCenter enables users to navigate through real governance, risk and compliance information – status and progress of risks, controls, issues and exceptions – through a full array of graphical options such as pie charts, heat maps, tables, stoplights and period-over-period trends. The intuitive, easy-to-navigate interface provides users with immediate and easy access to sub-reports and details data for superior exception monitoring. (See "Cognos and OpenPages Extend Technology Agreement to Deliver Enhanced Compliance Dashboard and Reporting Capabilities," 8/15/2004.)

In addition to OpenAccess and CommandCenter, SOX Express 3.1 includes a number of usability and administration enhancements, further improving the application’s already easy-to-use interface and minimal impact on IT staff.

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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