SOURCE: Paisley

April 23, 2007 09:00 ET

Paisley Announces Robust Growth and Record Revenues for the First Quarter of 2007

Company Continues to Demonstrate Market Momentum and Product Leadership

MINNEAPOLIS, MN -- (MARKET WIRE) -- April 23, 2007 -- Paisley, the leading provider of governance, risk and compliance (GRC) software solutions, today announced record financial results for the first quarter of 2007.

Fueled by strong sales of Paisley Enterprise GRC™, a complete governance, risk and compliance solution for large enterprise customers, and GRC on Demand™, a comprehensive governance, risk and compliance solution delivered via a Software as a Service (SaaS) model, the company demonstrated year-over-year revenue growth of 43 percent.

"Companies are increasingly taking a comprehensive approach to GRC and moving away from a siloed structure," said Tim Welu, CEO, Paisley. "With our holistic and integrated platform for governance, risk and compliance, Paisley is uniquely positioned to help companies unite the many diverse disciplines of business governance to achieve greater efficiency and effectiveness."

Further validating the demand for an integrated approach to GRC, many large manufacturers, financial services, telecommunications and food service organizations implemented Paisley's GRC solutions. In addition, analysts continue to recognize Paisley as a market leader. Based on its ability to execute and completeness of vision, Paisley was listed by Gartner in the leader's quadrant in the "Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007" (1) report.

About Paisley

Paisley is an industry-leading software vendor that provides solutions for governance, risk and compliance including financial controls management, internal audit, operational risk management, compliance, IT governance and enterprise risk management. For more than a decade, Paisley has delivered superior software and services to both large enterprise and mid-market organizations. Governance, risk and compliance software has always been and continues to be the company's focus.

Leveraging industry best practices, standards-based technology, and a choice of software platforms and deployment options, Paisley customers are empowered to improve the accuracy, consistency and efficiency associated with internal audit, financial controls management, enterprise risk management, operational risk management, IT governance and compliance initiatives. Developed for companies of every size and across multiple industries, Paisley's solutions enable organizations to streamline governance, risk and compliance processes, reduce costs of compliance, manage and mitigate risks, and provide visibility, oversight and assurance.

For more information, call 320.286.5870, email info@paisley.com or visit www.paisley.com.

About the Gartner Magic Quadrant

The Gartner Magic Quadrant is copyrighted February 2007 by Gartner, Inc., and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

(1) Gartner Research, Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007, by French Caldwell and Tom Eid, February 1, 2007.

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