IT FACTORY Appoints John H. MacKinnon, Experienced Finance Veteran in `Big Five' Firm, To Board of Directors

Business Wire, August 15, 2000

Business/Technology Editors

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 15, 2000

Former Partner at PricewaterhouseCoopers Brings Valuable Audit and

SEC Filing Experience at Vital Stage in IT FACTORY's Growth

IT FACTORY Inc., the leading international supplier of collaborative e-business solutions, today announced the appointment of John H. (Jack) MacKinnon, CPA, to its board of directors. Mr. MacKinnon is a former Partner in the Middle Market Advisory Services Practice at PricewaterhouseCoopers, where he spent more than 30 years. In his role on the IT FACTORY Board of Directors, Mr. MacKinnon will help in the formation and management of the company's Audit Committee and Compensation Committee, both of which are required by the SEC (Securities and Exchange Commission) to have outside directors.

"This is a great opportunity for me to apply my many years of experience in corporate finance and financial reporting," said Jack MacKinnon, IT FACTORY's newly appointed board member. "It is extremely exciting and challenging to be involved in the financial management of a rapidly growing start-up with such promising technology. Moving beyond the start-up phase and ensuring that the company's technology realizes its full potential in the market requires an intelligent finance strategy. I am pleased to be a part of this exciting process."

"Jack's long-time experience in the financial management of middle market start-ups will be crucial as we look to close our final round of private financing," said Bob Foley, Chief Financial Officer of Cambridge-based IT FACTORY. "In particular, Jack's experience in preparing and filing the S1 document for the SEC, as well as his involvement in the audit and integration process of corporate acquisitions, will be extremely valuable in this phase of our growth."

Jack MacKinnon spent more than 30 years with PricewaterhouseCoopers where he became a Partner in the Middle Market Advisory Services Practice, and was responsible for services provided to rapidly growing companies principally involved in manufacturing, distribution, retail, services and technology. During his time with PricewaterhouseCoopers, he served as the Audit and Lead Engagement Partner for a wide variety of companies registering with the SEC or filing for IPO, as well as providing services to audit committees of various Boards of Directors in fulfilling their fiscal obligations for SEC compliance. Mr. MacKinnon, who recently retired from PricewaterhouseCoopers, currently holds a number of trustee, director and advisory board positions with a variety of not-for-profit organizations and corporations. He is a Certified Public Accountant and a member of the American Institute and Massachusetts Society of Certified Public Accountants. Mr. MacKinnon holds a BS degree in Business Administration from Boston College. He is also a co-founder of the Boston College Club.

About IT FACTORY

IT FACTORY is the leading global supplier of collaborative e-business solutions, supported by an award-winning development architecture and comprehensive set of software development tools. Four-time Lotus Beacon Award winner (and six-time finalist), IT FACTORY has a rapidly expanding installed base of more than 500,000 ITF product licenses worldwide. IT FACTORY distributes its technology through its 100-person professional services group and more than 250 highly qualified business partners, as well as through its on-line storefront, the Shop@IT FACTORY. The company's product line consists of the ITF Software Development Kit(TM), an advanced development architecture for Lotus Notes, the ITF Business Suite(TM), the ITF Plus Suite, and a set of related support and training services. With its more than 250 employees worldwide, IT FACTORY is the world's largest ISV in the collaborative technology industry. IT FACTORY is backed by international venture capital, allowing continued aggressive growth. The Company is headquartered in Cambridge, Massachusetts, with regional offices in Washington, DC, New York City, Raleigh, NC, Atlanta, GA, and Nashville, TN, and has international offices in Denmark, England, Germany, The Netherlands, Norway, Sweden and Australia. Find out more at www.itfactory.com.

IT FACTORY, the ITF logo and the ITF wheel are registered trademarks of IT FACTORY A/S. ITF Software Development Kit, ITF Architecture, and ITF Business Suite are trademarks of IT FACTORY A/S. Lotus and Lotus Notes are registered trademarks and Notes and Domino are trademarks of Lotus Development Corp. All other trademarks are property of their respective owners. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies.