Over 40 New Global Customers in Q1 Include Multi-Million Dollar Sales, Strong International Growth and Increasing Demand for SOXA Accelerator

Vienna, VA - April 27, 2004 - HandySoft Global Corporation, a leading provider of business process management (BPM) solutions, today announced that its quarter-over-quarter revenue increased 40 percent in Q1 2004. Driving these strong revenue numbers were several multi-million dollar sales, including an enterprise sale to a U.S. federal government agency. Additionally, HandySoft experienced strong demand for its products and solutions overseas, closing new deals in countries that include Australia, Canada, China, England, Hong Kong, Japan, Mexico, and Korea. Furthermore, sales of the company's SOXA Accelerator for Sarbanes-Oxley compliance to a growing number of internationally based Global 500 companies helped fuel the dramatic revenue growth. HandySoft's growth rate continues to exceed the 15-20 percent growth rate of the worldwide BPM market for 2003, as measured by Gartner Dataquest.

"The early promise of business process management (BPM) was cost savings, and many enterprises seem to have taken advantage of BPM during the recent economic downturn," said Jim Sinur, Vice President, Gartner Research. "Evidence is pouring in from surveys and anecdotal sources that BPM suites are delivering cost savings by reducing error cycles and low-value activities. Because of recent pressures for cost reductions and market demand for better processes, we expect continued pressure from business executives to switch to new, business-differentiating activities that are being modeled for the next economic upturn."

As a part of its efforts to continue this aggressive growth strategy, HandySoft points to the following steps:

• SOXA 2.0 - In March, HandySoft unveiled the 2.0 version of SOXA Accelerator. The enhanced version demonstrates HandySoft's commitment to helping public companies address the many challenges they face as a result of the Sarbanes-Oxley Act. This solution has a growing roster of Global 500 customers and now provides updated reporting capabilities for improved control and administration and enhanced support for Sarbanes-Oxley Sections 302 and 404.
• Continued growth in international markets - HandySoft will continue its strong growth internationally through the addition of new sales executives in Australia, Japan and in other important markets in Europe and Asia-PAC. Additionally, HandySoft will continue developing native-language editions of its existing solutions, such as the upcoming release of a Japanese-language version of SOXA 2.0.
• BizFlow 9.0 - In May, HandySoft plans to release the 9.0 version of its award-winning enterprise BPM platform, including simulation and enhanced business modeling capabilities, greater support for Web services and a service-oriented architecture approach, and other innovative functional enhancements.

"The last quarter has been our most impressive to date, as demand for both the enterprise BPM solution and SOXA Accelerator continue to skyrocket," said Stuart Claggett, chief operating officer for HandySoft Global Corporation. "Our bifurcated approach has positioned us well to serve companies looking for a framework to capture and enforce best practices and procedures throughout an organization as well as those interested in rapid improvement of specific business processes."

About HandySoft Global Corporation
HandySoft Global Corporation is the premier provider of configurable software solutions that simplify and automate business processes; capture and enforce best practices; improve productivity and quality while reducing costs; integrate information technology; and foster collaboration among employees, customers, and partners.

The foundation for HandySoft's industry and departmental solutions is BizFlow®, the award-winning platform for business process management, automated workflow, and collaboration. BizFlow offers complete capabilities for building and managing automated business processes, including tools for designing and monitoring the processes, presenting and accessing work, integrating existing IT systems, and administering the platform itself. As a global solutions provider, HandySoft has headquarter locations in Vienna, VA, and Seoul, Korea, with regional offices in London and Sydney, and strategic partners located throughout the world. HandySoft has implemented process management solutions at hundreds of sites worldwide. For more information call +1-703-442-5600, email info@handysoft.com or visit www.handysoft.com.

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