Press Release

January 22, 2002

OpenAir Finishes 2001 with Another Record Quarter
Grows 2001 annual revenue to approximately four times 2000

Boston, MA (January 22, 2002) — OpenAir, provider of the complete web-native professional services automation (PSA) solution, today reported fourth quarter results for the period ending December 31, 2001.

In the fourth quarter of 2001, OpenAir achieved its eleventh consecutive quarter of revenue growth, increasing revenues by over 28% versus the prior quarter. Fourth quarter revenue gains were driven by increases in monthly software subscription fees from new customers, which included Cablevision Systems Corporation (NYSE: CVC), Niteo Partners subsidiary of NEC, Axia NetMedia Corporation, Valicert, Inc., Bristlecone, Inc., and eMind, as well as several mid-market companies from a range of industry segments.

"It was extremely gratifying to finish the year on such a positive note, despite the economic slowdown in the fourth quarter. We've found that as organizations scrutinize IT investments more closely and become more demanding about the return they require, our product and our subscription-based pricing model become increasingly appealing," asserted CEO Morris Panner. Echoing Panner's view, John Longo, VP Consulting Services for ValiCert, explained, "OpenAir exceeded our expectations in all areas. It improved the efficiency of our organization in the first week of deployment. This is a great ROI for us."

Other highlights for Q4 '01:

  • OpenAir received the highest marks for "Overall Solution Satisfaction," scalability and several other categories in Aberdeen Group's comprehensive survey of PSA customers. (For more information on the report, contact Aberdeen at (800) 577-7891, or info@aberdeen.com.)

  • OpenAir was showcased in the Summit Strategies December 2001 report, "Just Say No: Customers Ditch Traditional Applications for Web Services", as an example of a web-native software solution that is beating out traditional client/server software solutions. (For more information on this report, contact Billie Farmer at BFarmer@summitstrat.com.)

  • Supporting its philosophy of rapid release cycles and intense customer focus, OpenAir completed over 20 product updates to incorporate customer-requested functionality throughout the PSA solution.

  • OpenAir deployed Workspaces, its new enterprise knowledge management solution, to several dozen new and existing customers.

About OpenAir
OpenAir is the Web-native professional services automation solution that helps organizations improve operational efficiencies and gain insights into key management metrics. OpenAir customers increase profits by capturing additional billable hours, increasing employee utilization, streamlining project management, accelerating revenue, enhancing collaboration, improving revenue recognition and project accounting, and sharing knowledge and best practices throughout the organization. OpenAir has helped professionals in over 500 companies across six continents increase profits through its subscription-based solution. For additional information, visit www.openair.com.

Contact
Jeff Hunt
OpenAir
Phone: 617-351-0236
jeffhunt@openair.com