Eastern Virginia Medical School Prescribes ePlus to Automate Procurement and Expedite Its Supply Chain; EVMS, located in Southeastern Virginia, Chooses ePlus Procure+ Technology

Business Wire, August 7, 2001

Business Editors/Hi-Tech & Medical Writers

HERNDON, Va.--(BUSINESS WIRE)--Aug. 7, 2001

ePlus, Inc., (Nasdaq:PLUS), a leading provider of outsourced e-Business solutions and services, today announced that the Eastern Virginia Medical School, a private, post-graduate medical school in Norfolk, has licensed ePlus' Procure+,full-featured, web-enabled procurement system.

EVMS will integrate ePlus technology with its existing financial accounting software to create a unique, full-service eProcurement system for automating purchasing at its multiple operating locations.

By employing ePlus' Procure+ technology, EVMS will create a web-enabled, state-of-the-art eProcurement system to empower users to save time and reduce the cost of selecting and purchasing a wide variety of medical and lab products and services from multiple vendors.

As a leader in reproductive medicine and research in pediatrics, geriatrics, diabetes, and prostate cancer, EVMS will be eliminating burdensome paperwork and freeing-up resources to focus on its core missions of education, research and patient care.

"Procure+ will provide us with faster and easier procurement of medical, lab, office supplies and related services," said EVMS official Mark Babashanian, Director of Finance. "EVMS provides critical services to the community through our network of partnerships with hospitals, physicians and clinics. Procure+ will enable us to quickly process orders and supply crucial information such as medical equipment specifications to all of our associates throughout the region, while substantially reducing our costs.""

"ePlus has extensive experience in web-based procurement, which provides for paperless ordering, tracking, and delivery information, offering academic institutions like Eastern Virginia Medical School a simple way to reduce procurement costs while maintaining quality," said Phillip G. Norton, Chairman and CEO of ePlus. "Our technology offers the most cost effective solution on the market today, an important consideration in an industry like health care where controlling costs while providing quality care is paramount."

The Procure+ technology will allow EVMS to delegate control of individual purchases to end users, freeing procurement staff to concentrate on more strategic activities and to establish and improve supplier relationships and vendor partnerships.

Doctors and staff will be able to review the equipment specifications of advanced medical equipment online, allowing them to choose the equipment and plan procedures weeks in advance. Attendents will be able to monitor supply inventories and create templates for recurring purchases, as well as consolidate purchases for direct cost savings.

ePlus delivers high-value solutions through the ePlusSuite of products and services, designed to increase top line revenue and reduce bottom line expenditures. Procure+, together with Manage+, Finance+, Service+, and the ePlusMarket, help today's businesses dynamically streamline, improve and gain management control while delivering the highest return on your investment.

ePlus(TM), ePlusSuite(TM), Procure+(TM) , Manage+(TM) , Service+(TM) B14ZR(TM), OneSource(TM), OneReq(TM), CLG(TM) and MarketBuilder(TM) are trademarks or trademarks applied for of ePlus inc. Finance+SM is a registered service mark of ePlus inc. Other trademarks mentioned herein are the property of their respective owners.

About EVMS

Located in Norfolk, Virginia, EVMS was established in 1973 as a community based medical school. EVMS has patient care and educational relationships with hospitals, physicians and clinics throughout southeastern Virginia. In fiscal year 2001, EVMS faculty provided medical care to more than 200,000 people. The school's local economic impact has been estimated at $500 million annually.

EVMS has received international recognition for its biomedical research in areas such as reproductive medicine, pediatrics, geriatrics, diabetes, prostate cancer, sleep disorders, blind diseases of the eye, and cardiovascular/renal health. For more information, visit the medical school's web site at www.evms.edu.

About ePlus

ePlus is a leading provider of remotely-hosted, Web-based e-procurement, asset management, and financing solutions. ePlus both simplifies and shortens the implementation process by including customized workflow management and hosting the Procure+ and Manage+ solutions for its customers. Founded in 1990, the company is headquartered in Herndon, VA and has more than 20 locations in the US.

For more information, visit our website at www.eplus.com, call 800/827-5711 or email to info@eplus.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements.

Actual and anticipated future results may vary due to the following risks and uncertainties, including, without limitation, general economic conditions; fluctuations in operating results; its ability to effectively manage future growth, to retain and efficiently integrate our executive management team, and to identify, hire, train and retain, in a highly competitive market, individuals highly skilled in the Internet and its rapidly changing technology; the lack of long-term contracts in certain business units; its ability to enter into and retain its existing, strategic relationships; market acceptance; rapid technological change; a decline in Internet usage and intense competition in its market; its ability to effectively integrate the operational, managerial and financial aspects of future acquisitions; demand and competition for the Company's lease financing and equipment sales and asset management services, and the products to be leased or sold by the Company; the continued availability to the Company of adequate financing including permanent non-recourse and recourse debt, and working capital lines of credit; the ability of the Company to recover its investment in equipment through remarketing; the successful execution of its e-commerce strategy; the amount of equipment ordered, purchased and/or leased by its customers; and other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings.