E&Y Technologies Inc. to Resell FRx Enterprise Financial Reporting Software; E&Y Oracle Financial Users to Benefit from High-End Financial Reporting

Business Wire, June 3, 1998

DENVER--(BUSINESS WIRE)--June 3, 1998--Ernst & Young Technologies, Inc. (EYT), a subsidiary of Ernst & Young (E&Y), today announced the formalization of a strategic reseller agreement for EYT to resell FRx financial reporting and consolidation software.

Under this agreement, EYT will resell and, with Ernst & Young's global consulting practice, implement FRx's comprehensive Enterprise Financial Reporting and Consolidation solution to key target industries and accounts around the world. The addition of FRx(R) Enterprise Edition will allow E&Y clients who are Oracle financial application users to consolidate financial data and create and disseminate sophisticated financial reports without burdening busy IT departments. FRx's Visual Financial Reporting(TM) software provides direct access to the Oracle general ledger allowing finance and accounting staff to create real-time financial reports using multiple reporting hierarchies and drag-and-drop functionality and then electronically deliver the reports with drill-down viewing capability.

"We're pleased to bring the FRx Enterprise Edition to the Oracle customer base of E&Y TECHNOLOGIES," said John Houtsma, Vice President of Sales for FRx Software Corp. "These enterprise-wide systems are a natural fit for our highly intuitive visual financial reporting software, which gives finance and accounting professionals the ability to create meaningful reports from their desktop using the latest financial information."

The FRx software solution allows finance and accounting staffs to use accounting-centric design techniques to develop and maintain visually oriented financial reports. FRx Enterprise Edition accesses general ledger information directly without utilizing a data warehouse or proprietary database, ensuring that financial reports are current. Independent reporting hierarchies give users unlimited creativity to group and roll up cost centers, business units and multiple companies, even when those companies use different charts of accounts or accounting applications or the data resides on different servers. These independent hierarchies also support sophisticated if-then analyses.

Date-effective organizational restructuring functionality plus an n-tier architecture allow users to generate multiple reports simultaneously and maintain high-performance throughput. Additional capabilities include the ability to use wildcards in account searches, report in multiple currencies, effortlessly switch between portrait and landscape page settings, create exception reports and develop a side-by-side balance sheet for easy comparisons.

In addition, E&Y Oracle users can create presentation-quality reports -- choosing fonts, colors and formats -- for printing or e-mail distribution across an enterprise. Managers can then view the reports online and drill down to detailed transaction data. With FRx, E&Y Oracle users can also import or export their financial data directly to popular Microsoft Excel and IBM Lotus spreadsheets.

"We believe that many of our clients will welcome the additional financial reporting functionality FRx's Enterprise Edition software brings to E&Y Oracle customers," said Jim Hunt, CEO of Ernst & Young Technologies, Inc. "FRx Software has a very mature and intuitive product. We're very glad to have this reporting tool within our suite of product offerings."

About FRx Software

Founded in 1994 and headquartered in Denver, FRx Software Corp. produces advanced visual financial reporting software that interfaces with more than 27 leading client/server accounting systems and is used in over 65,000 sites worldwide. Its Workgroup and Enterprise Editions products feature the automatic creation of complex financial reports with rollups through multiple reporting hierarchies; drill-down capability from summary level financial information into the underlying transaction level details; presentation-quality reports that can be printed, exported to worksheets or e-mailed for remote viewing or printing; and an advanced 32-bit application server for high-speed production of financial reports. FRx Software products have been designed by and for CPAs and financial professionals to build and maintain complex financial reports that support Generally Accepted Accounting Principles (GAAP). Additional information about FRx Software's product offerings can be obtained by contacting the company at 1-800-379-8733 or via the Internet at www.frxsoft.com

About E&Y Technologies

Ernst & Young Technologies, Inc (EYT) is a Delaware Corporation organized to deliver information systems integration and technical professional services to Ernst & Young clients worldwide. Through established cooperative systems integration and reseller agreements, EYT procures immediate access to the products and services clients need. EYT remains a vendor neutral single source of accountability allowing customers to choose from hundreds of best in class' products and services. For more information about EYT's services and the new FRx relationship call (703) 817-1400. Additional information about EYT can be found at www.ey.com.