SOURCE: Sabrix, Inc.

March 13, 2007 08:00 ET

Sabrix Awarded SAS 70 Type I Certification

Certification Marks Sabrix's Ongoing Commitment to Provide Clients With the Most Reliable and Accurate Tax Information

SAN RAMON, CA -- (MARKET WIRE) -- March 13, 2007 -- Sabrix®, Inc., the leading provider of Consolidated Transaction Tax Management™ solutions, today announced that it has successfully completed a SAS 70 (Statement on Auditing Standards No. 70) Type I audit of its Tax Research business processes. Independent auditor, Holmes Royer LLP, performed the audit. The SAS 70 certification demonstrates Sabrix's continued commitment to provide customers the most reliable, current, and accurate tax research for regulatory tax compliance and to operate as a trusted, tax research provider who meets the rigorous operational controls associated with Sarbanes-Oxley compliance.

SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) to report on a third-party service provider's operational controls and their effectiveness. SAS 70 audits are important in an environment of increased business process outsourcing and Sarbanes-Oxley compliance.

Sabrix Tax Research provides global rates, product rules, cross-border tax determination, and country and state law changes that impact over 11,500 jurisdictions in the United States and 140 countries worldwide. A team of experienced CPAs; tax experts in sales, use, and value-added tax; and legal experts is dedicated to ensuring that the most accurate and current tax rates and rules are available for calculation and determination within the Sabrix Application Suite for consolidated transaction tax management.

"Sabrix has always been dedicated to providing accurate, complete, and timely Tax Research," said Carla Yrjanson, Sabrix Director, Tax Services. "With SAS 70 certification, we provide our customers with yet another reason to be confident in the depth and accuracy of our tax expertise. As a result of the in-depth assessment of control activities and SAS 70 certification, customers can trust the Tax Research that is an integral part of our Application Suite. We remain committed to renewing our SAS 70 compliance on an annual basis and to demonstrating that Sabrix has adequate controls and safeguards on its Tax Research."

About Sabrix

Sabrix, Inc. is a proven expert in transaction tax management, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, value-added tax (VAT), and industry-specific taxes and fees. The company's flagship product, the Sabrix Application Suite, empowers Global 2000 companies to manage transaction tax with consistent accuracy, control, and efficiency. The Sabrix Application Suite is an enterprise-class, centralized transaction tax management system that seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. With Sabrix, a company has a single transaction tax solution and a single system of record for transaction tax compliance, with distributed management and control for geographically dispersed tax professionals. The Sabrix Application Suite has been implemented at global enterprises across a variety of industries, including Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman's Warehouse, and York International.

The company also offers the Sabrix Managed Tax Service™ (MTS) to address the transaction tax requirements of companies of all sizes. Sabrix MTS is an outsourced transaction tax compliance service that helps finance departments eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company's existing accounting and e-commerce systems and, similar to outsourced payroll services, operates as a trusted extension of a company's finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit www.sabrix.com.

Sabrix, Sabrix Managed Tax Service, and Consolidated Transaction Tax Management are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

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