February 22, 2007 09:35 ET

OpenAir Achieves Record Revenue and Cash Flow in 2006

OpenAir User Community Surpasses 30,000 Subscribers

BOSTON, MA -- (MARKET WIRE) -- February 22, 2007 -- OpenAir, the world's leading provider of on-demand Professional Services Automation (PSA), today announced that revenue for the year ending December 31, 2006 increased by 49% year-over-year. OpenAir improved upon its fiscal 2005 growth rate, while maintaining profitability and posting record cash flow.

"Having completed our third consecutive year of profitable, cash flow positive growth, OpenAir has the financial and operational infrastructure in place to build upon our increasing growth trajectory," said Tom Brennan, OpenAir CFO.

OpenAir continued to increase its customer base both as a result of new clients and organic growth within current customers. As of January, OpenAir has more than 30,000 users deploying OpenAir globally.

Among other accomplishments in 2006, OpenAir:

--  Held its first annual User Summit and launched the OpenAir interactive
    on-line User Forum.  This year, OpenAir will hold its second annual User
    Summit on November 6-7, 2007 in Boston.
--  Continued to upgrade the OpenAir application and extend the OpenAir
    integration with and other leading applications.
--  Presented its success in a wide variety of publications, including The
    New York Times, BusinessWeek, InformationWeek, Fortune, Red Herring,
    Forbes, Boston Business Journal and Consulting Magazine.
--  Spoke at a variety of events sponsored by, Bluewolf,
    Red Herring, Massachusetts Technology Leadership Council, PSVillage, the
    Technology Professional Services Association and others.
--  Was named 34th fastest growing private company in New England for 2006
    by the Boston Business Journal.
--  Grew in its position as industry leader with its election to ASPNews's
    Top 25 ASP Vendors for a record seventh year in a row.
About OpenAir, Inc.

Based in Boston, OpenAir Professional Services Automation (PSA) software enables professional services firms to gain controls and insight on their financial best practices. OpenAir empowers executives to track projects, teams, and billable hours for improving employee utilization and to streamline project management. OpenAir Consulting provides both expert deployment advice on the OpenAir product as well as Services Best Practices Consulting as part of the OpenAir Optimize™ Services Program. Relying on a highly experienced team of former Bain, Cambridge Technology Partners and Mercer consultants, OpenAir has developed comprehensive programs for both the Software-as-a-Service (SaaS) deployment paradigm as well as for the services vertical industries. OpenAir has helped leading services organizations across six continents increase profits through its subscription-based solution. For additional information, please visit Address: 211 Congress St., 8th Floor, Boston, MA 02110. Tel. (617) 351-0230, Fax (617) 904-1617.

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