WORKSHARE APPOINTS SRIDHAR MURTHY AS CFO & EVP OPERATIONS

Experienced Financial Chief Joins Document Integrity Leader as Business Growth Accelerates

LONDON, UK.-2 August, 2005-Workshare, the leading provider of Document Integrity solutions, today announced Sridhar Murthy has been named Chief Financial Officer and EVP Operations for the company. He brings to Workshare more than 15 years of corporate financial and operational leadership, having served at Collabnet, Inc., Get2Chip.com, Inc., Ariba and Remedy from early stage through to liquidity and beyond.

In his new position, Murthy will direct all worldwide financial and operations activities for Workshare. In the past two years at Collabnet, Murthy was responsible for all financial and ASP operations, defined the company's business model direction and assisted with the company's repositioning from an enterprise market to software as a service model, culminating in a recent large funding round led by venture firm Norwest Venture Capital.

"Sridhar's deep software experience coupled with his keen understanding and delivery of on-demand software services is a perfect match for Workshare's next stage of business growth," said Joe Fantuzzi, CEO and chairman of Workshare. "Sridhar has two IPOs, one major trade sale and multiple acquisitions under his belt, adding to our seasoned executive team, which has participated in eight IPOs, five trade sales, eight acquisitions and two mergers."

Prior to joining Collabnet, Murthy was CFO at Get2Chip, which was sold for over $100m to Cadence in 2003. For the prior 10 years, he held VP of Finance roles at Ariba and Remedy, helping take both organizations public and managing them through periods of tremendous growth. Prior, he was an audit manager for Coopers and Lybrand, a then Big 8 accounting firm that is now part of PriceWaterhouseCoopers, the world's largest accounting firm.

"Having held top financial positions with leading software organizations, I know first-hand how critical documentation accuracy, security and compliance are to a company's bottom line and reputation," said Murthy. "I look forward to joining Workshare at this time of fast acceleration in the market and the critical need for document integrity solutions across all industries. With the explosion of internal policies and external regulation, Workshare and our partners are poised for accelerated financial success."

Murthy holds an MBA from Oklahoma State University and also graduated from Madras University in India with a Bachelor of Commerce. Murthy is also a Chartered Accountant (CPA equivalent).

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