Captura Software Pioneers Customizable Expense Management Automation in European Market

Business Wire, July 1, 1998

BOTHELL, Wash.--(BUSINESS WIRE)--July 1, 1998--Captura Software today marked a milestone in its progress to simplify complex expense management in European countries, with the opening of a European headquarters in London.

Captura is paving the way for the automation of expense management in multiple countries with Employee Payables(tm) 2.0, the most customizable application in the market.

Captura is the first company to support multi-national requirements as they evolve, including various currencies and the euro, local per diem regulations, tax and company car rules, multiple languages, location-specific policies and practices and localized reports. Captura's proprietary Intelligent Decision Processing rules engine enables the product to be localized to accommodate various nations' regulations and new rules, without major code changes. This technology leadership provides a springboard for international deployment of Employee Payables for current and future customers.

Merrill Lynch, with 56,700 employees worldwide, is the first customer to deploy Employee Payables internationally. A Captura customer since 1996, Merrill Lynch anticipates the significant margin of savings it has realized in the U.S. across its operations worldwide. Captura was the first expense management software company to deploy customer installations and its customers include Aetna Inc., Compaq Computer Corporation, Commercial Union Insurance Companies, EG&G, Paymentech Inc., SSDS and Unify.

"Captura has helped Merrill Lynch realize significant cost reductions with our travel and entertainment (T&E) processing, and we're eager to experience savings abroad," said Mark McAndrews, CAO of Merrill Lynch Investment Banking. "Captura's European headquarters not only strengthens their commitment to our international deployment, but stands to benefit European companies looking to streamline costly, complicated processes."

Katarina Bonde, executive vice president at Captura and managing director of Captura International, Ltd. said, "The opening of our European headquarters marks a new era for Captura. A European sales and support function allows us to match our current strengths with the needs of our customers with significant European presence."

Employee Payables 2.0 Delivers Best Approach for International Markets

Employee Payables delivers the most advanced approach to issues such as complex regulations and multiple currencies - critical as adoption of the euro takes place - and the Year 2000, and can not only automate integration of data from outside sources, but also captures additional information to make intelligent choices about that data. As a result, customers such as Merrill Lynch will realize dual benefits of consistent company-wide compliance for long-term cost-effectiveness.

Bonde will manage the new headquarters, joined by Craig Gordon, sales manager, and Raj Sandhu, consulting manager. They both join Captura from Hogg-Robinson/BTI in the UK, where they built a consulting unit by packaging service offerings for T&E process analysis and re-engineering. Gordon worked with Meridian, the number one VAT services company, since its inception and Sandhu worked for Galileo, the travel reservation systems vendor before joining BTI. The Captura office is located at World Business Centre, Newall Road, Heathrow, Middlesex, TW6 2RJ, United Kingdom. The phone and fax numbers are 44 181 263 2914 and 44 181 263 2701.

About Captura Software

Captura, headquartered in Bothell, Washington, provides enterprise solutions that manage business policies effectively and enable organizations to control costs, enhance financial analysis, and make better decisions. The company's flagship product, Employee Payables, helps large organizations align more closely with T&E Best Practices, enforce expense policy uniformly across the enterprise and reduce the costs associated with the processing of expense reports.

Founded in 1994, Captura has built a strong infrastructure of customers, partners and strategic alliances with more than 150,000 seats sold. Customers include: Merrill Lynch; Aetna Inc., Bank of America, Compaq Computer Corporation, Pfizer Inc., Cytec Industries Inc., Commercial Union Insurance Companies; EG&G, a global technology company; Paymentech Inc.; SSDS; and Unify. Partnerships include three of the world's largest travel agencies, Carlson Wagonlit Travel, Rosenbluth International and BTI Americas. Captura is a Microsoft Solution Developer, a Microsoft Solution Provider and an Independent Software Vendor for Great Plains Software. For more information about Captura and its products, call 800/547-2223 or visit its Web site at http://www.captura.com.

CONTACT: Captura Software

Mara Krieps, 800/547-2223, Ext. 144

marak@captura.com

or

Access Communications

Robin Rootenberg, 415/904-7070, Ext. 282

rrootenberg@accesspr.com