INDUSTRY

Verity Inc., a leading provider of enterprise software that enables organizations to maximize the return on their intellectual capital investment, today announced the appointment of two new members to its board of directors. Joining the current Verity board are Richard G. Stevens, CPA, founder and managing director of Hunter Stevens LLC, a San Francisco-based professional services firm comprised of financial experts and industry specialists, and Eric F. Brown, president and chief financial officer of MicroStrategy Inc., a leading worldwide provider of business intelligence software. Both new members will serve on Verity's audit committee and nominating and corporate governance committee, and Stevens will also serve as the chairman of Verity's audit committee. "Verity is committed to continuing to execute on a strategic and prudent business plan to grow and expand the company's market share as a global company. With the additions of Rick and Eric, we believe that the Verity board will benefit from their expertise and experience in a wide range of corporate and financial management matters, increasing Verity's marketplace leadership and enhancing long-term shareholder value," said Gary J. Sbona, Verity's executive chairman. "Rick and Eric will also play a key role in the company's ongoing efforts to provide leading-edge corporate governance." Stevens has more than 30 years of diverse experience in accounting and business management. Prior to forming Hunter Stevens in 1995, he served as a partner with Ernst & Young and Coopers & Lybrand, providing strategic consultation on accounting, auditing and SEC matters. Stevens has audited and reported on the financial statements of hundreds of companies, from emerging growth enterprises to Fortune 500 corporations. He is also a contributing author of Montgomery's Auditing, 10th Edition, one of the principal reference books used in the accounting profession. Brown has extensive experience in financial management and software industry operations. In his current position as president and chief financial officer of MicroStrategy, he is responsible for all of the company's financial and accounting functions, operations, contracts and compliance activities, human resources, information systems and administration. He assumed his current role at MicroStrategy following the company's March 2000 restatement of 1997 to 1999 financials and directed a comprehensive operational and financial turnaround. Prior to joining MicroStrategy Brown served as vice president and division chief operating officer of Electronic Arts, the world's largest interactive entertainment software company.