AXS-One and ComStrata Sign Partnership for ASP Launch

Business Wire, June 26, 2002

Business Editors

Partnership Results in a Comprehensive Internet Based

Management System for the Strata Title Industry and

Reinvigorates the ASP Model

AXS-One Pty Ltd., a leading provider of e-business solutions, and ComStrata.com Pty. Limited, an Internet based, property management service today signed a joint development and revenue sharing partnership for the launch of their ASP service to the Strata Title industry.

ComStrata's parent company is CCH Australia, the premier business and legal publication company.

The partnership combines ComStrata's domain knowledge and subject matter expertise with AXS-One's industrial strength, web-services based financial and business solutions to provide the Strata industry with the most comprehensive solution on offer.

The internet-based system is offered as a hosted solution incorporating web-services that makes it extremely easy to use and makes the powerful back-end financial and business systems completely transparent to the end user.

John Rade, AXS-One's President and Chief Executive Officer in the United States commented, "We are very pleased to be the major technology partner in this exciting project which puts state of the art, web-hosted business solutions plus in-depth industry knowledge into the hands of every property owner, investor and manager in the Strata Title industry."

"Contrary to the gloom surrounding Application Service Providers (ASP) in recent press, this hosted service has found immediate acceptance in the industry with strong commitment from managers ensuring the commercial success of the venture," added John Rade.

ComStrata was formed by CCH Australia, the business and legal publisher who has also been publishing Strata Title material since 1975, together with Gary Bugden. Gary Bugden is Australia's leading expert on Strata Title law and management and has written a number of publications over the past 25 years.

"ComStrata is committed to achieving the best possible product for its customers which for the first time is brought together through smart technology to create an e-commerce community that enhances the quality of that community and AXS-One is integral to this goal," commented Gary Stanton, Managing Director, ComStrata.

"This is an extremely large market with great potential considering that in Australia there are in excess of 200,000 Strata schemes with an annualised growth rate of between 8% and 10%. Our service has been designed to be the most comprehensive solution available to the industry and our goal is to become the dominant player in this field," added Gary.

"CCH has a strong, ongoing commitment to ComStrata and their partnership with AXS-One. This partnership has enabled the development of an e-business solution that allows businesses and individuals to collaborate successfully," stated Willem van Zanten, CEO, CCH.

While the venture is initially oriented to the Strata market in Australia most developed countries have similar requirements and the partnership will be looking for other opportunities to expand the business worldwide.

Product Background

This is a unique solution that provides the practical assistance and necessary knowledge not only to effectively administer Strata schemes at the click of a button but also to run the business of those Strata managers who administer the schemes.

It provides for preparation of budgets and forecasts, maintenance of records, preparation of meeting documents, generation of financial statements, levy notices, letters, faxes and e-mails, reference forms, commentary and up-to-date legislation information and much more.

Due to the ASP environment it enables third parties to have access to the system in a controlled manner therefore creating an on-line community, which facilitates more effective communication and commerce.

About AXS-One

AXS-One (AMEX: AXO) is a provider of supply chain management solutions for service industries that extend the finance function and allow organizations to work collaboratively with their partners, suppliers, employees, and customers while preserving investments in existing systems. AXS-One has implemented high-volume, interoperable, scalable and secure business solutions for global 2000 organizations. Its Web Services based technology has been critically acclaimed as best of class. AXS-One has approximately 300 employees in offices worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is based in Rutherford, New Jersey, U.S.A. For further information, visit the AXS-One web site at http://www.AXS-One.com.

About ComStrata

ComStrata is an online management system for property owners, investors, developers, committee members, and strata managers. ComStrata.com Pty Limited (www.comstrata.com.au) was formed in 1999 as a joint venture project between CCH Australia and Gary Bugden, leading expert on strata title law and management over the past 25 years.

This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission.