OBJECTWAVE LAUNCHES CROSS BORDER DEVELOPMENT SERVICES AS OFFSHORE ALTERNATIVE

Chicago, IL - 5 November 2007

ObjectWave,Corp., a leading software engineering company and provider of enterprise level object oriented technology systems; today announced the opening of their Tampico office to expand into Latin America and offer American companies an alternative solution to problematic traditional off-shore solutions. Based in Chicago, Illinois, ObjectWave has more than sixteen years of experience building enterprise-level object technology systems for mid and large sized companies.

ObjectWave were early adopters of object-oriented (OO) technology. It is ObjectWave’s extensive experience with OO technology and methodologies that differentiates ObjectWave from most other software consultants. ObjectWave’s customers are Fortune 1000 enterprises with mission-critical systems development needs. About 50% of ObjectWave’s customers reside in financial services; however, other vertical industries include education, government and insurance.

Strategically, ObjectWave believes expansion into Mexico and specifically into the Tampico region offers both the company as well as its existing and future customers’ several competitive advantages. ObjectWave’s move into Latin America also introduces the company’s new service to its United States based business called Cross Border Development Offering, a competitive alternative to off-shore development.

Sam Cinquegrani, CEO and founder, ObjectWave, states: “It helps knowing the area. Alberto Corona, our Chief Technology Officer, is from Tampico and attended the Instituto de Estudios Superiores de Tamaulipas. In fact, we have already tapped into a lot of local talent and we have had contacts going back several years now. With Tampico’s time zone being the same as Chicago’s it became obvious that we had a new competitive advantage to other technology firms’ off-shoring software development overseas like the Middle East.”

Mr. Cinquegrani continues, “By having remote or ‘virtual’ development teams working in the same time zone instead of an isolated team that is 11.5 to 12.5 hours apart somewhere like India or Pakistan for example, our developers working on a project are able to communicate to each other in real-time which leads to better operational efficiency In the end, it is a better value for the customer than traditional off shore development in places in Asia.

Mr. Alberto Corona, Chief Technology Officer, ObjectWave, adds, “Naturally being from Tampico, I couldn’t be more excited to be embracing this new growth step for ObjectWave as well as what it means for me personally to return to and give back to the community that helped raised me literally. Before even opening the office, we’ve managed to successfully complete a few customer projects in the US proving there is a market for our new service.”

Mr.Corona continues: “Besides the US-based work we are working on, one of my first goals in heading the Tampico office is gaining new strategic alliances or partnerships in not only Tampico but also currently in Monterrey and Mexico City. We will also be looking to the local and Regional Universities for local talent and possible internships starting next year. We do have some big plans to grow in the Latin American markets but we will have to take it all one step at a time. Since inception, ObjectWave is an organically grown company and we take pride in that.”

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