ENGINEERING

CAMBRIDGE, MA -- Today, AVAKI Corporation, a pioneer in global grid software solutions, announced that it has significantly enhanced its executive management team through the addition of three key new executives. Tim Yeaton, George Favaloro and Betsy Zikakis have joined the AVAKI team as Chief Operating Officer, Senior Vice President of Corporate Development and Vice President of Worldwide Marketing, respectively. As Chief Operating Officer, Tim will be in charge of managing current day-to-day initiatives designed to solidify AVAKI's position as the premier provider of grid software solutions for enterprises. Prior to AVAKI, he served as Senior Vice President and General Manager of server products for Macromedia, where he had general management and P&L responsibility for all of the company's Server software products. Tim has also been Vice President and General Manager of Compaq Computer Corporation's UNIX/Linux Software Division, where he was a part of the development of the Tru64(R) UNIX Operating System, as well as products and services related to clusters, storage management, and distributed computing. He was also a part of Digital for 18 years. George Favaloro, Senior Vice President of Corporate Development, will be responsible for AVAKI's business development and marketing operations. George has over 15 years of experience in both large corporations and start-ups. Before joining AVAKI, he was Vice President of Business Development at Allaire (now Macromedia), where he was in charge of developing key strategic alliances and partnerships with major technology and integrator partners. While at Allaire, he also managed mergers and acquisitions and the company's channel partner program. Prior to that, George was Director of Marketing, Internet Solutions division, at Compaq Computer Corporation - a Division that he also helped launch - and worked for McKinsey & Company's Boston office, consulting to information technology clients. Betsy Zikakis has also joined AVAKI as Vice President of Worldwide Marketing. In this new role, Betsy will be responsible for all marketing functions including go-to-market and market penetration strategies, brand development, public relations, product marketing and sales support. Prior to joining AVAKI, Betsy's career spanned over 15 years in the software industry with a broad background in all aspects of marketing and product development. Most recently, Betsy was Senior Vice President of Global Marketing at Engage, a publicly traded, majority-owned CMGI Company, where she led Engage's marketing effort through an IPO and seven acquisitions. Prior to Engage, Betsy served as Retail Segment Director at Open Market where she launched Open Market into the business-to-business e-commerce market and drove early initiatives in the business-to-consumer market. David Fish, president and CEO of AVAKI, feels strongly that his new executive management team is the right mix to propel AVAKI forward as it continues to make significant headway introducing grid computing into the enterprise market. "We have assembled a fantastic team with solid background in enterprise software and with strong skills in all aspects of organizational management, from executive management, to product development, business development, and marketing," said Fish. "The combined experience of Tim, George, and Betsy will enable us to expand our leadership position in the grid computing market well into 2002 and beyond, and we're very excited to welcome all of these talented people to the AVAKI team." AVAKI Corporation offers the first commercial grid software solution to provide highly secure, virtualized access to data and compute resources in wide-area, multi-platform environments. The flagship product, AVAKI 2.0, allows enterprises to capitalize on the true power of grid computing and thereby accelerate time to market, increase ROI on existing computing infrastructure, and reduce the barriers associated with implementing Web services. Backed by $16 million in funding from Polaris Venture Partners, General Catalyst, and Sofinnova, AVAKI is located in Cambridge, Mass. For more information visit www.avaki.com