Corio to Offer ASP Services for Oracle E-Business Suite; Software and ASP Industry Leaders Align to Deliver Enterprise Solutions

Business Wire, May 23, 2001

Business Editors/High-Tech Writers

SAN CARLOS, Calif.--(BUSINESS WIRE)--May 23, 2001

Corio, Inc. (Nasdaq:CRIO), a leading enterprise application service provider, today announced that it has become an Oracle(R) (Nasdaq:ORCL) Authorized Application Provider (OAAP), as part of the Oracle Partner Program (OPP). As an OAAP, Corio will offer ASP services to deploy, host and manage the Oracle E-Business Suite for its customers.

"We are pleased that Corio has become one of our OAAPs," said George Roberts, senior vice president of U.S. sales of Oracle. "Customers recognize the value and quality that both of our companies offer, and as a result, we look forward to seeing tremendous demand from this relationship."

The Oracle E-Business Suite is an integrated suite of Internet-enabled business applications, which includes manufacturing, supply chain, financials, human resources, and other applications. The Oracle E-Business Suite will be integrated into the Corio Intelligent Enterprise -- providing customers the benefits of the complete and simple suite of applications while leveraging Corio's state of the art infrastructure and operations and applications management services.

Corio has already demonstrated momentum in the marketplace and recently added IPWireless, a leading next-generation wireless technology company, as a new customer. "Corio's sophisticated hosting infrastructure and application experience will enable us to deploy our Oracle solution much faster than we could have done on our own," said Steve Carbone, Corporate Controller of IPWireless.

"Oracle's business applications will further enhance our suite of hosted solutions and services and complement our ecosystem of strategic alliances," said George Kadifa, president and CEO of Corio. "Our relationship will enable our customers to leverage the complete Oracle E-Business Suite with Corio's sophisticated infrastructure and operations services."

About Corio, Inc.

Corio (Nasdaq:CRIO), a leading enterprise application service provider, delivers, hosts and manages best-of-breed applications and infrastructure services for a monthly fee. Corio's application suite, the Corio Intelligent Enterprise, features leading vendors such as BroadVision, Commerce One, E.piphany, Microsoft, Moai, PeopleSoft, Oracle, Requisite, SAP and Siebel Systems. Corio's infrastructure suite, the Corio Intelligent Infrastructure, features modular application delivery and support services. Corio is headquartered in San Carlos, California. Additional information about Corio is available at http://www.corio.com.

Forward-looking Statements:

Matters discussed in this release involving expectations, beliefs, plans, projections, intentions, or strategies are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and are made under their safe-harbor provisions. Forward-looking statements herein include statements regarding the offering of Corio's Oracle application services to customers and potential customers; the offering of integration in connection with the Oracle application; the benefits to Corio and its customers of Corio's Oracle application services and related integration services; and the speed with which we will assist our customers deploy the Oracle solution. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Some of the specific factors that may cause actual results to differ include: Corio's limited history of offering ASP services in general and Oracle application services and related integration services in particular; the fact that we operate in a new industry with a rapidly-evolving business model; Corio's dependence on third party software vendors for the software necessary to provide its services and for the rights to provide hosting services, and the possible termination of its agreements with such vendors; and uncertainty around demand for Corio's Oracle application services and related integration services. Additional risks that could cause actual results to differ materially from those projected are discussed in Corio's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. Corio undertakes no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Note to Editors: Oracle is a registered trademark of Oracle Corporation.

Corio is a trademark of Corio, Inc. All other product and company names mentioned herein may be the trademarks of their respective owners.