AXS-One Extends Relationship with Leading Financial Services Company; Helps Implement Disaster Recovery and Business Continuity Program to Meet Mission-Critical Service Standards

Business Wire, Feb 18, 2003

Business Editors

RUTHERFORD, N.J.--(BUSINESS WIRE)--Feb. 18, 2003

AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced that it has extended its existing relationship with a leading financial services client.

Through agreements signed at the end of 2002, AXS-One will work with its customer, a global provider of mortgage banking and diversified financial services, to implement a complete disaster recovery and business continuity program, addressing new federal regulations and ensuring mission-critical system availability.

Financial companies around the country are responding to new federal directives requiring all U.S. financial institutions to evaluate and modify their existing disaster recovery and business continuity plans in order to provide for rapid recovery and timely resumption of operations in the event of a wide scale disruption. AXS-One's AXSPoint(R) solution will help its client meet these needs and will be deployed in a dual-data center environment in order to comply with the company's expanding infrastructure and new regulations. Data from the main site will then be replicated at a secondary facility to ensure recovery, seamless operation, and availability at all times.

As part of the initiative to implement a program that complies with these new regulations, AXS-One will help its customer upgrade its existing reporting systems to the flexible, Web-based AXSPoint solution and help in implementing the disaster recovery program. A longtime AXS-One customer, the company had previously been using AXS-One products for report and archive retrieval, ranging from billing and customer account information to corporate accounting and exception reports. By upgrading to the AXSPoint solution, the company and its employees will be able to retrieve critical report information via the Web, offering increased flexibility and expanded user accessibility.

"AXS-One is well-positioned to support our customers as they face new and changing demands for security and availability from the government as well as from their customers," commented John Rade, President and Chief Executive Officer of AXS-One. "By implementing our AXSPoint solution as part of a complete disaster recovery and business continuity system, our client will be able to seamlessly address the requirements of today, while preparing for the additional growth of tomorrow."

About AXS-One Inc.

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 companies. Its Web Services-based technology has been critically acclaimed as best of class. AXS-One has approximately 250 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.axsone.com.

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.

AXS-One, the AXS-One logo, "Access Tomorrow Today," AXSPoint and TransAXS are registered trademarks of, and e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART and Tivity are trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.