ACADEMIA

NEW YORK, NY -- Platform Computing Inc., a leader in distributed computing software solutions, today announced that it has made a significant equity investment in Powerllel Corporation, a provider of advanced parallel processing software for the financial services industry. Terms of the transaction were not disclosed. Located in New York City, Powerllel develops advanced parallel computing software that distributes and processes computationally intensive applications across multiple systems to accelerate and improve the accuracy of results. This will enable financial services organizations to run mission-critical financial applications, such as securities and portfolio pricing, hedging, risk management, and end-of-day processing, unchanged in a Grid computing infrastructure. This is an expansion of a strategic partnership announced by the two companies in January 2002. In addition, the companies have entered into a multi-year strategic technology and marketing alliance to develop integrated solutions for the financial services industry. As part of the agreement, the firms will co-develop, market and implement end-to-end parallel and distributed computing systems for the financial services industry, providing faster, more efficient solutions to a wide range of compute-intensive applications. Platform will also have a seat on Powerllel's Board of Directors. "Powerllel has a unique and exciting technology that supercharges computationally-intensive applications, enabling them to run faster in a Grid computing environment. This provides financial services organizations with compelling business advantages, including increased revenue from trading operations and dramatically reduced computing time," said Robert Gordon, CEO, Platform Computing. "We anticipate expanding our solutions with Powerllel to provide business advantages to customers in our other key verticals, including life sciences and manufacturing." "This partnership provides our mutual customers with the industry's only end-to-end parallel distributed computing solution," said Eliot Listman, CEO, Powerllel. "As the undisputed leader in distributed computing, Platform's established customer base, credibility and reputation for innovation will help to expand our presence, growth and position beyond the financial services market and into new vertical markets such as pharmaceuticals, bioinformatics and manufacturing, which have similar business challenges." Platform's Financial Services Group provides distributed computing solutions to the financial services market, where IT infrastructures must support and process mission-critical applications. Platform customers, including Bank of America, Deutsche Bank, Mackenzie Financial Corp., Morgan Stanley, Millennium Partners, TD Canada Trust, and Fidelity Investments, have dramatically improved the efficiency and reliability of their IT infrastructures and the critical financial services applications they support, including front-, middle-, and back-office applications. The cost savings that Platform yields are the composite result of reduced capital expenditures (accomplishing more with less infrastructure overhead); reduced operational costs (automated, proactive workload and resource management and performance measurement); and increased business capacity (transaction loads can not only be doubled, but are also processed in the most efficient way). For more information visit www.powerllel.com or www.platform.com.