September 17, 2002


StatementOne secures an additional $3 million in funding

LAWRENCEVILLE, NJ — StatementOne, the industry leader in enterprise data consolidation and web-based portfolio accounting and performance measurement, announced today that that it has secured an additional $3 million in funding, led by a new investor, New York City-based Hudson Venture Partners. The new infusion of cash will be used to expand IT development to add new features and functionality, increase implementation capacity and enhance customer support. Also participating in this financing round is Charterhouse Group International, one of StatementOne's original investment partners.

"StatementOne fits well into our strategy of finding companies that have a product or service with a proprietary technology or unexploited market niche, coupled with outstanding business and revenue models," said Glen Lewy, senior managing director for Hudson Ventures. He added, "StatementOne has developed and commercialized a breakthrough technology in spite of less-than-favorable market conditions. We look forward to helping management grow the company." Lewy will also join the company’s board of directors.

"We're very excited to have Hudson Ventures both as an investor and a board member. Their infusion of capital and their operational expertise in helping to grow companies, will help us to meet the ever-increasing demand for our enterprise data consolidation applications within the financial services sector," said Greg Pacholski, StatementOne's president and chief operating officer."

About Hudson Ventures
New York City-based Hudson Ventures is an early-stage technology venture fund, whose members have decades of experience in operating and advising companies through various stages, including concept development, expansion, public offerings, and mergers and acquisitions. Established in 1997, Hudson Ventures has invested in over 30 technology companies both as a lead investor and as a co-investor in syndicated venture financings. A licensed Small Business Investment Company (SBIC) with more than $170 million of capital under management, the firm typically makes private equity investments ranging from $2 million to $5 million.

About Statementone
StatementOne consolidates data for financial institutions and other enterprises, collecting transaction-level data sets from both legacy systems and external custodians, utilizing direct data feeds. They currently manage account data for 43 financial institution clients, representing over a hundred billion dollars in assets, tens of thousands of financial advisors and millions of investors and individual accounts. They provide a secure, web-based, turnkey service which delivers securities account aggregation, portfolio accounting and performance reporting to financial institutions, branch managers, registered representatives and their investor clients. Their proprietary software cleans, organizes and reconciles the data, producing a consolidated, unified data structure, with virtually no manual intervention. This scalable database is also used to feed critical, best-of-breed applications for use in business planning, analytics and CRM. Their current clients include independent broker/dealers, banks, credit unions and other financial institutions.

David Z. Orban,
Vice President of marketing
(609) 806-0227.

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