J.P. Morgan Chase & Co. to Resell Horizon Application Built With Versata; Uses Versata Logic Server as Underlying Technology in Its Operational Risk Management Application

Business Wire, Nov 8, 2001

Business Editors/High-Tech Writers

OAKLAND, Calif.--(BUSINESS WIRE)--Nov. 8, 2001

Versata Inc. (Nasdaq:VATA), a leading provider of software and services that automate the business logic and processes that power enterprise applications, today announced that J.P. Morgan Chase & Co. (NYSE:JPM) has signed an Independent Software Vendor (ISV) agreement with Versata to resell its operational risk management application, Horizon, built with Versata middleware, to third parties.

JPMorganChase purchased Versata software to build a risk assessment software program for its own internal use. Versata's Java-based business logic development & management software allowed JPMorganChase to quickly complete application development, integrate with existing third party software and permit ongoing modifications. Versata's open development & execution environment gave JPMorganChase the freedom to adopt and incorporate future technologies for the development and maintenance of flexible Web-based applications. In addition Versata's scalability and performance enabled them to meet the needs of its multiple locations as it rolled out the product internally around the globe.

"After reviewing several options, including building these tools and applications in-house, we found that the Versata Logic Suite best fit our needs," said Craig Spielmann, vice president, JPMorganChase. "With Versata's exceptional ease-of-use and performance, we have both accelerated our deployment cycles and streamlined development, and we have created an application that can be resold to third parties."

Versata's relationship with JPMorganChase dates back to 1998 when JPMorganChase implemented its first Versata-based solution. JPMorganChase runs the Versata Logic Server in several leading environments including Oracle, Sybase, NT and Unix.

"Together, JPMorganChase and Versata exemplify the value that business logic technology brings to the Independent Software Vendor market," said Doug Roberts, president and CEO, Versata. "Old methods of application development, execution and management are no longer suitable in this era of rapid market change."

About JPMorganChase

JPMorganChase is a leading global financial services firm with assets of over $700 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, retail and middle market financial services, and e-finance. A component of the Dow Jones Industrial Average, JPMorganChase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. Information about JPMorganChase is available on the Internet at www.jpmorganchase.com.

About Versata

Versata business logic development and management software automates complex enterprise applications -- making Java 2, Enterprise Edition (J2EE) software development easier and less expensive. Versata-built applications are constructed from an organization's core business rules and run in J2EE application servers like IBM WebSphere and BEA WebLogic. With Versata, organizations can simplify J2EE development, instantly change and update applications, maximize IT resources and augment existing skill sets, and enhance collaboration between IT and business professionals. Versata Global 2000 customers include British Telecommunications, Federal Home Loan Bank, France Telecom, Hilton Hotels, ITT Fluid Technologies, J.P. Morgan Chase & Co., and Mexicana Airlines. For more information, please visit www.versata.com or call (800) 984-7638.

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. A number of factors and uncertainties could cause results that differ materially from those projected from the forward looking statements, such factors include but are not limited any unforeseen technical difficulties related to the Versata's products, market acceptance of Versata's products, ability to grow revenue, revenue recognition, ability to deploy the products, ability to diversify customers, the release of competitive products, economic conditions and other possible risks. More information on risks and uncertainties related to the Company and its business may be found in the Company's Annual Report on Form 10-K, quarterly reports and Prospectus filed with the United States Securities and Exchange Commission.

Note to Editors: Versata and the Versata logo are trademarks of Versata Inc. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.