Press Release

For Immediate Release:

OpenAir Ranked Number 161 Fastest-Growing Technology Company in North America on the 2005 Deloitte Technology Fast 500

Attributes its 1,185 Percent Revenue Growth to a Web-hosted Application for Professional Services Automation

Boston, Mass.—Oct. 19, 2005 —OpenAir, the leading on-demand professional services automation application with approximately 18,000 subscribers, today announced that it ranked Number 161 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on percentage revenue growth over five years, from 2000-2004. OpenAir grew 1,185 percent during this period.

OpenAir CEO Morris Panner credits his company's on-demand web-hosted business model and responsive customer service with the company's 1,185 percent revenue growth from 2000-2004. OpenAir also realized an average annual growth rate of 97 percent.

OpenAir provides comprehensive automation solutions for services teams and consulting firms around the world. More than 200 companies and 18,000 subscribers use OpenAir to gain controls and insight on their financial best practices and to track the work of employees, teams and consultants. Users such as consulting firms and other service providers use OpenAir to improve employee utilization, capture more billable hours and streamline project management—wthout reliance on unstructured tools such as email or faxes.

"Making the Deloitte Technology Fast 500 is commendable in today's highly competitive technology industry," said Tony Kern, deputy national managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "We congratulate OpenAir on being one of the 500 fastest growing technology companies in North America."

In addition to ranking on Deloitte's Technology Fast 500, OpenAir ranked 15th on the New England Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in New England.

Overall, companies that ranked on the 2005 Technology Fast 500 had growth rates ranging from 240 to 73,752 percent over five years, with an average growth rate of 2,408 percent.

Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 and 2004 operating revenues of at least $1 million.

Entrants must be headquartered in North America and must be a "technology company", defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify for the Deloitte Fast 500.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein. Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.

About OpenAir
OpenAir is the Web-native professional services automation solution that helps independent software vendors, marketing services companies, consulting firms, and internal corporate service organizations increase top-line growth, improve operations and enhance financial controls. 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 leading services organizations across six continents increase profits through the subscription-based OpenAir® Complete solution. For additional information, visit

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