Nucleus Research Launches Equity Research Service With Lazard Freres

Business Wire, May 10, 2004

Business Editors/High-Tech Writers

WELLESLEY, Mass.--(BUSINESS WIRE)--May 10, 2004

Nucleus Equity Research Service Equips Investment Professionals

With Primary Data on Technology Vendors

for Better Informed Investment Decisions

Nucleus Research, a global provider of Return on Investment (ROI)-focused research and advisory services, today announced the launch of the Equity Research Service, providing technology investors with actionable information based on real-world analysis. The Equity Research Service leverages the investment expertise of Lazard Freres, a pre-eminent global investment bank, and bridges the gap between investors and industry participants, with independent, unbiased technology research and analysis.

Nucleus Research is the only analyst firm of its kind to provide IT investors with practical investment and technology data to support investment decisions. Equity Research Service subscribers will have access to Nucleus-Lazard Real ROI Reports - independent analysis of a vendor's return-on-investment - as well as topical conference calls scheduled prior to the publication of Nucleus' latest ROI research and press releases. Conference calls will provide a preview of research results, insight into findings not included in printed reports and analysis from Nucleus and Lazard of factors to watch.

Product quality and unbiased primary data has long been used as a key factor behind investment decisions. However, it has always been extremely difficult to get an accurate understanding of product quality in the technology sector. Recent SEC regulations have made it even more difficult for investors to gather data to that end. ROI is the best way to quantify product quality, because it directly impacts and demonstrates customer satisfaction and thus can be used as a harbinger of future sales and corporate earnings. Nucleus Research and Lazard, using Generally Accepted Accounting Principals (GAAP) to determine the ROI vendors deliver to customers, will help investors make better informed decisions.

"Nucleus has distinguished itself as the only IT analyst firm focused on GAAP-compliant ROI research to help technology users make better technology investments," said Ian Campbell, CEO, Nucleus Research. "Lazard selected Nucleus as the only analyst firm that delivers independent, unbiased research - validating our ability to provide investors with the timely and actionable information they need to make sound IT investments."

The Nucleus Equity Research Service delivers a comprehensive package of ongoing support through the following components:

-- Nucleus-Lazard conference call access.

-- Exclusive access to Nucleus case studies, research notes and

vendor profiles.

-- One-on-one analyst support for quick answers to important

questions.

-- Nucleus Equity Research Newsletter, delivered electronically

twice per month, providing key insights based on Nucleus'

conversations with vendors and users about adoption, pricing,

maintenance, planned investments and acquisitions and other

key challenges.

-- Event-driven updates to provide insight into the impact of a

major industry announcement or acquisition.

"Lazard recognizes that ROI is a critical indicator of a technology vendor's overall performance and one of the most important factors of future performance," said Erick Brethenoux, vice president of equity research, Lazard. "We believe that Nucleus Research is the only IT analyst firm that provides reliable, GAAP-compliant ROI analysis. Together, Lazard and Nucleus can now offer original and quality technology investment expertise for the investment community."

About Lazard

Lazard is a pre-eminent global investment bank committed to helping its clients - corporations, partnerships, institutions, governments and individuals - achieve their strategic and financial goals. Lazard's success results from its focus on providing clients with superior quality advice and developing creative solutions to complex problems. This philosophy is embedded in Lazard's emphasis on competing through intellectual rather than financial capital and a tradition of privacy and independence. Lazard prides itself on its global reach, while at the same time maintaining a distinct local market presence in various locations throughout Europe, North America and Asia. For more information, visit: www.lazard.com.

About Nucleus Research

Nucleus Research is an independent global research and advisory firm that provides CFOs, CIOs and their staffs with the financial and technology expertise they need to evaluate and manage their information technology investments the same way they evaluate and manage other capital investments. Nucleus Research is the first firm of its kind to blend financial analysis with comprehensive technology expertise to deliver 100% impartial return-on-investment (ROI) data and financial analysis services to organizations worldwide. Nucleus analysts use an uncompromising set of processes and tools to evaluate the financial return on IT assets throughout a technology's life cycle, from selection and deployment to upgrade and retirement. Nucleus Research's ROI assessment methodology can be applied to virtually any technology investment. For more information, visit www.nucleusresearch.com.