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Business Services Industry

Financial Services Industry Reaping Dividends Through the LiveVault Online Backup and Recovery Service

Business Wire, July 22, 2003

Business Editors/High-Tech Writers

MARLBOROUGH, Mass.--(BUSINESS WIRE)--July 22, 2003

LiveVault Channel Strategy Driving New Customer Wins

as Financial Institutions Adopt Online Backup and Recovery

to Protect Vital Data

LiveVault Corporation(R) (www.livevault.com), the leading provider of online backup and recovery solutions for business servers, today announced that the financial services industry is rapidly adopting the LiveVault Online Backup and Recovery Service(TM). Since the beginning of 2003, the number of financial service firms selecting LiveVault has more than doubled. In addition, LiveVault has signed on new channel partners focused specifically on serving the financial services industry, including SS&C Technologies (NASDAQ:SSNC), everynetwork and Langtech.

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"Our data is our business. It is constantly changing and needs to be backed up on a continuous basis, so that we eliminate any risk of business disruption," said Jason Adam Oleet of Middlebury Capital, LLC, a LiveVault customer. "The LiveVault Online Backup and Recovery Service is perfectly suited to our needs because it's automatic and continuous -- even saving changes in open files. It provides us with the business continuity required to keep our company running, even if the unthinkable should occur."

LiveVault works by automatically and continuously backing up business server data via a secure Internet connection and storing it in an off-site Iron Mountain(R) (NYSE: IRM) facility, where it is available for immediate recovery in the event of a system failure, virus, human error or other disaster. This makes it an ideal solution for financial services companies, which rely on constantly changing transactional data. LiveVault's financial services customers span several key sectors, including asset management, retail banking, mortgage management, venture capital, real estate management, securities brokerage and trust management.

"Today's financial services companies have very high demands for information availability, and fiduciary responsibility to ensure that key customer data is fully recoverable," said Bob Cramer, president and CEO of LiveVault. "Our channel partners, such as SS&C, everynetwork and Langtech, understand the unique data protection challenges facing financial service firms and, through LiveVault, can now offer their customers 100 percent data recovery, eliminating the risks associated with traditional tape backup."

The LiveVault service is designed for customers whose servers reside outside of major data centers -- such as enterprise remote or branch offices, or mid-sized businesses -- and who have primarily relied on in-house tape backups to keep their data safe. Analysts estimate nearly 50 percent of tape-based backups for these distributed servers fail to fully recover, which exposes these businesses to significant risk. Conversely, LiveVault guarantees recovery of all business-critical data and lets companies, in a matter of minutes, return operations to the state they were in immediately prior to a data-loss event.

To learn more about how LiveVault protects critical financial services data, please visit www.livevault.com/solutions/financial. To find out how LiveVault and its network of partners can provide data protection and disaster recovery for your business, please visit www.livevault.com, contact sales@livevault.com or call (800) 638-5518.

About LiveVault Corporation

LiveVault Corporation is the leading provider of fully managed online data backup and recovery services. LiveVault automatically and continuously backs up server data, protects it offsite at a secure, remote Iron Mountain facility, and makes it immediately available for recovery 24x7. Through its partnerships with Iron Mountain (NYSE: IRM), Hewlett-Packard (NYSE: HPQ), Microsoft (NASDAQ: MSFT), and others, LiveVault helps ensure the business continuity of mid-sized businesses, as well as distributed offices of larger enterprises. LiveVault is based in Marlborough, Mass. For more information visit www.livevault.com or call (508) 460-6670.

LiveVault is a registered trademark of LiveVault Corporation. Iron Mountain is a registered trademark of Iron Mountain, Incorporated. HP is a registered trademark of Hewlett-Packard Corporation. Microsoft and .NET are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. Other product and company names mentioned herein may be trademarks and/or service marks of their respective owners. All rights reserved.

Business Services Industry

Financial Services Industry Reaping Dividends Through the LiveVault Online Backup and Recovery Service

Business Wire, July 22, 2003

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