SRI International Selects Nextance for Enterprise Contract Management

Business Wire, August 26, 2002

Business Editors/High-Tech Writers

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Aug. 26, 2002

Nextance, Inc., a leading provider of enterprise software for enterprise contract management, today announced that SRI International has chosen to implement Nextance(TM) for the management of contracts and related commitments.

SRI International is a pioneer in the creation and application of innovative solutions for businesses, governments, and other organizations. It serves clients in information, communications, and engineering technologies; pharmaceuticals and biotechnology; chemistry and physics; and the public policy areas of education, health, and economic development. SRI International selected the Nextance solution to provide greater visibility into contracts and notification of key events and milestones.

"We have thousands of agreements that we need to actively and efficiently manage," said Richard Abramson, General Counsel of SRI International. "Nextance will provide us with a solution to greatly streamline and improve our contract management process. The solution will enable SRI to realize benefits immediately."

Nextance will provide SRI International with an enterprise contract management system that will meet the organization's requirements as a research institute. Nextance's NeXML(TM) architecture enables Nextance to easily and rapidly configure solutions to meet the unique needs of large organizations and companies across all industries.

"We are privileged to have SRI International as a customer," said Kirk Krappe, President and CEO of Nextance. "Our NeXML(TM) platform provides the most flexible and extensible contract management solution today."

About Nextance, Inc.

Nextance, Inc. is a leading enterprise software firm providing applications that assist corporations and public entities in better managing their contracts, commitments, and supporting business processes. Companies using Nextance software gain control over their contracts, rights, and obligations and realize increased revenues, reduced expenses, and reduced contractual risk. Nextance is privately held and is headquartered in Redwood City, Calif. Additional information about Nextance is available at http://www.nextance.com.

About SRI International

Silicon Valley-based SRI International (http://www.sri.com) is one of the world's leading independent research and technology development organizations. Founded as Stanford Research Institute in 1946, SRI has been meeting the strategic needs of clients for more than 55 years. The nonprofit research institute performs contract research and development for government agencies, commercial businesses and nonprofit foundations. SRI is well known for its innovations in information technology, telecommunications, engineering, pharmaceuticals, chemistry, physics, and the public policy areas of education, health, and economic development. In addition to conducting contract R&D, SRI licenses its technologies, forms strategic partnerships and creates spin-off companies.

Nextance(TM) and NeXML(TM) are trademarks of Nextance, Inc. All other company names mentioned herein may be the trademarks of their respective owners.