Excelergy reports revenues are up 70 percent

LEXINGTON, Mass., Oct. 17, 2001 – Excelergy® Corporation today reported its most successful third quarter in its history.

Compared to a year ago, Excelergy’s year-to-date bookings (new sales) have grown 300 percent and its revenues are up 70 percent.

“Q3 marked the fourth consecutive quarter Excelergy has effectively met or exceeded our plan,” said Bill Mahoney, Excelergy’s president and chief executive officer. “Our continued high performance and steady growth speak volumes about the excellence of Excelergy’s technology, our engineering, our energy sector knowledge, and our speed. Behind these company differentiators are the most talented and hard-working group of colleagues I’ve ever had the privilege of working with. Few companies anywhere can match growth numbers like ours in today’s economy.”

For the third consecutive quarter, Excelergy generated more than 170 percent of its quarterly target for repeat business, a key indicator of client satisfaction. Also during the third quarter of 2001, Excelergy signed several new North American clients, including Indiana-based energy marketer Vectren Source and Virginia-based marketer ACN Energy. It also signed a significant add-on agreement with Ohio-based FirstEnergy Services.

Internationally, Excelergy continued its rapid implementation at Powercor Australia, and signed a substantial add-on agreement with the United Kingdom’s Maverick Energy. It also significantly expanded its global sales and channels force during the quarter.

“While we continue to deliver proven, innovative product solutions to our growing global client base, software industry consolidation – particularly in the wholesale and retail energy sectors – continues to eliminate competition and open up broader market opportunities for our products,” added Mahoney. “We will continue to leverage our unparalleled object technology platform to capitalize on those opportunities in the months and years ahead.”

Excelergy’s open co-action software products combine dynamic office collaboration, straight-through processing, and actionable business intelligence to enable clients to enter new markets faster, work with trading partners more effectively, provide superior customer and partner service, and settle and bill more efficiently and accurately than their competition.

About Excelergy® Corporation

Excelergy is the world’s first provider of open co-action software products – putting “action” at the heart of “collaboration” – to meet restructuring market needs worldwide. Excelergy delivers open co-action through its three core product lines: Excelergy eXACT® for inter-company collaboration, the Excelergy Advanced Business Packageà¢â€ž- for intra-company business process management, and Excelergy Energy Tradingà¢â€ž- for straight-through processing of wholesale energy business processes. These products are based on an open, object-based, Web-architected, native XML technology platform. Excelergy’s North American headquarters are located in Lexington, MA, with its European headquarters in Bristol, England and its Asia-Pacific operations based in Melbourne, Australia. More information is available at www.excelergy.com.

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