Press Release

March 28, 2000

TimeBills.com Changes Name to OpenAir to Reflect Expansion of Web-Native Business Services

Fidelity Leads $12.5 Million Funding Round For Expansion

BOSTON (March 28, 2000) -- OpenAir, formerly called TimeBills.com, is expanding its Web-based platform of seamlessly integrated services. The name change is being implemented as OpenAir (www.OpenAir) continues to offer new services such as payroll and adds more powerful features to existing services. Launched in June of 1999, OpenAir is now used by more than 15,000 businesses to drive revenue and circulate data more efficiently without the frustration associated with common business tasks.

All new services will work in conjunction with current offerings such as employee attendance analysis, online travel expense reporting and approval, time tracking and billing, automated payroll and expense reimbursement, as well as invoice delivery.

"OpenAir is thrilled that the demand for a broader range of services has grown so quickly as to necessitate a name change," said Bill O¹Farrell, President and CEO of OpenAir. "Our $12.5 million round of funding will enable us to better serve both growing and established companies."

Fidelity Ventures, which is actively making investments in the small and medium sized B-to-B market space, and 3i, a leading international venture capital company with US offices in Palo Alto, Calif. and Waltham, MA, led the group of financiers. The financing also includes previous TimeBills¹ investors i-Hatch Ventures, a venture capital firm based in New York, and Rex Capital, a Rhode Island venture fund.

"OpenAir provides the applications and services necessary to either build or remodel the corporate business infrastructure," said Dan Walsh, VP of Sales for OpenAir. "Our Web-native applications and services provide the rapid scalability growing businesses demand while saving valuable network management and administration time."

Linked Service Network
OpenAir automates common business tasks while maintaining data consistency throughout a linked network of business services. OpenAir is free for the first five employees per company and a nominal fee per user thereafter.

With Expense Reports, employees can create and submit expense reports and receive approval for reimbursement online. Employees get paid faster, and companies save money and time usually wasted generating, circulating, processing and filing paper reports. Approved expenses can be automatically added to employee paychecks through an automated payroll, provided by Powerpay.com, a Ceridian company [NYSE: CEN].

With Time Sheets, employees can track their time and attendance, allowing managers to evaluate profitability and plan projects with greater accuracy. Employee time and expenses can also be added to client invoices, which can be manipulated and marked up or down for billing, while keeping accurate records for management.

Users can e-mail, fax or mail their own invoices or outsource the printing, addressing, stamping and mailing of invoices via the EZ Invoice service, an efficient and hassle-free way to send clients a two-page 8.5 x 11" invoice, return envelope and a pre-addressed perforated payment stub. After receiving three free invoices, members pay $1.65 for each additional invoice. An international version adjusts tax, currency and address format country to country.

Available 24 hours a day, seven days a week, OpenAir supports all major Internet browsers and is easily accessed from any Internet-equipped computer. All data is backed up on state-of-the-art servers, encrypted, password protected and only accessible to the OpenAir user.

About OpenAir
OpenAir, founded in 1999 as Timebills.com, is a trusted Web-based platform of integrated services that efficiently and economically streamlines business processes. Headquartered in Boston, OpenAir expedites the circulation of company information through a network of linked administrative services. More than 20,000 professionals currently utilize OpenAir to remove the frustration associated with common business tasks and drive revenue more efficiently.

Contact
Jeff Hunt
OpenAir
Phone: 617-351-0230
jeffhunt@openair.com