Intrasphere Adds New Client in Financial Services Sector

New York, May 24, 2001 – Intrasphere Technologies, Inc., a provider of technology solutions to pharmaceutical and finance companies, today announced that Reval™, a Web-based Treasury Management System application service provider (ASP), has been added to the company’s expanding list of clients.

“Reval is one of many new clients fueling Intrasphere’s tremendous growth,” said Woo Song, a member of the Board of Directors of both Intrasphere and Reval. “The connection between the companies goes beyond the traditional customer relationship; Intrasphere incubated Reval two years ago and has an equity stake in the company.”

Intrasphere helped develop Reval’s user-friendly input and reporting modules, its dynamic navigation system, and its interactivity. Intrasphere will continue to provide Reval with technology expertise and infrastructure support.

“With Intrasphere’s support, Reval has developed a cost-effective web-based treasury management system that is vital to corporations that hedge risk,” said Jiro Okochi, President of Reval. “The system has easy-to-use pricing screens, risk-management modules, and reporting that includes reset reports, fair value reports, and profit and loss. The system provides excellent value to our customers.”

Reval’s prototype was completed with Intrasphere in 1999, resulting in a first round of financing, which propelled further development and creation of a working demo. Reval became independent in 2000. Its second round of funding, led by Tobat Capital, was completed in early 2001.

About Intrasphere Technologies, Inc.

Intrasphere Technologies, Inc. provides technology solutions to companies seeking to maximize their Internet, Intranet and Extranet business space. The company specializes in application development and systems integration for the pharmaceutical and finance industries. Headquarters are at 100 Broadway, New York City, with a second office in Holborn, central London. The company maintains a Website at www.intrasphere.com.

 

About Reval

Reval is a global SaaS provider for Treasury and Risk Management, helping enterprises better manage cash, liquidity and financial risk, and account for and report on complex financial instruments and hedging activities.

For more information, visit www.reval.com or email info@reval.com.

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