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Business Services Industry

Federal Home Loan Bank Selects Versata to Automate E-Business Transactions

Business Wire, July 18, 2000

Business Editors/High-Tech Writers

OAKLAND, Calif.--(BUSINESS WIRE)--July 18, 2000

Banking Institution Plans to Provide Internet-Based Financial

Transactions as Well as Online Community Outreach Processing

Versata Inc. (Nasdaq:VATA), a provider of software and services that enable businesses to rapidly deploy and modify e-commerce Web applications, today announced that the Federal Home Loan Bank of Pittsburgh selected the Versata E-Business Automation System(TM) to power an Internet-based solution for delivery of financial transactions and its Affordable Housing Program.

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The Federal Home Loan Bank, a $50 billion wholesale financial institution, will use the Versata System to facilitate the credit application and approval process traditionally handled manually as well as other financial transactions typically performed in person or over the phone with agents. The Federal Home Loan Bank also plans to adapt the system to handle its Affordable Housing Program, a community outreach program in which the Bank provides 10 percent of its earnings to community based groups that sponsor affordable housing projects.

"We needed a solution that would allow us to automate many of our daily transactions, while providing our customers with real-time data they could use. At the same time, we wanted to develop a complementary system that would streamline the application process for our Affordable Housing Program," said Teresa Donatelli, Senior Vice President and Director of Information Technology for the Federal Home Loan Bank. "The Versata E-Business Automation System allows us the flexibility to customize our Internet banking needs while scaling it for other capabilities, and because the system is standard-based, it ensures longevity of the application."

As a privately-owned government sponsored enterprise, the Federal Home Loan Bank serves both its member financial institutions and the communities in its region. Using Versata's technology will allow the Bank to better serve both groups by optimizing the cost and time efficiencies of the Internet. The flexibility of the Versata technology will also allow the Bank to respond quickly to changes in the business and regulatory environments in which it conducts business.

"Versata's technology offers three of the most critical assets that the Home Loan Bank sought in developing their solution: ease-of-use, reliability and rapid change," said Mike DeVries, Vice President of Marketing, Versata. "It's extremely satisfying when our technology can assist businesses to accomplish their objectives, especially when their goals involve reaching out to communities in need."

About Federal Home Loan Bank of Pittsburgh

The Federal Home Loan Bank of Pittsburgh, with assets of more than $50 billion, serves nearly 400 financial institution members in Pennsylvania, West Virginia and Delaware, and is part of the Federal Home Loan Bank System. The System is comprised of twelve private cooperatively owned banks that provide wholesale housing finance, community lending, and correspondent banking services to member banks, savings institutions, credit unions, and insurance companies.

About Versata

Versata provides software and services that enable customers to automate their e-business transactions. Powered by unique rules-based technology, the Versata E-Business Automation System significantly reduces the time needed to develop and evolve e-business applications as business needs change.

Innovative Fortune 1000 and corporate customers such as MCI, Sanwa Bank, Union Bank of California, ITT Fluid Technologies, Hilton Hotels, JP Morgan and United Defense as well as new Internet exchanges including yet2.com, eBond-Trade.com, and uWork.com have all benefited from the Versata solution.

Incorporated in 1995, and publicly-traded, Versata (Nasdaq:VATA) is headquartered in Oakland, California with offices throughout the United States and Europe and in Hong Kong. For more information, please contact Versata at www.versata.com, or call 800-984-7638 or email us at info-pr@versata.com.

NOTE TO EDITORS: Camera-ready artwork of the Versata logo can be obtained on the Versata media relations Web site at http://www.versata.com. Copies of previous Versata press releases and additional corporate and product information are also available on the Web site www.versata.com.

Versata has filed for several trademarks, including the Versata E-Business Automation System(TM), the Versata Logic Server (TM), the Versata Studio (TM), and the Versata Connector (TM), as well as the Versata logo. All other company and product names mentioned are property of the respective holders.

This release may contain forward-looking statements based on Versata's current expectations. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include the widespread market acceptance of the E-Business Automation System and related service offerings, Versata's ability to expand or grow the service offerings that compliment its E-Business Automation System, its ability to compete in the Internet infrastructure software market, responsiveness to technological and industry changes, loss of a major customer, ability to maintain and expand relationships with systems integrators and third-party distributors and the acceptance of commerce over the Internet by consumers and businesses. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Versata's filings with the Securities and Exchange Commission, including its recent filing on Form S-1 and Form 10-Q for the quarter ending March 31,2000.

Business Services Industry

Federal Home Loan Bank Selects Versata to Automate E-Business Transactions

Business Wire, July 18, 2000

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