RUTHERFORD, N.J., Sep 19, 2002 (BUSINESS WIRE) -- AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced its entry into the burgeoning Mainland China market with a modified version of the AXS-One(TM) Enterprise suite of financial management solutions, with specific functionality for multi-national companies wishing to do business in the region.

The first client to implement this modified version of AXS-One Enterprise, a major global insurance company, is scheduled to go live in January 2003.

The specialized version of the AXS-One Enterprise suite includes the full set of financial management solutions, including General Ledger, Accounts Receivable, Accounts Payable, and Fixed Assets. It also offers a series of specialized extensions, functions, and features that enable multinational companies to easily set up business operations in China, and integrate them with existing financial management systems regardless of their location. Chinese and English language user interfaces, as well as support for Chinese and English character set data, are utilized, making it easy for local and international users to access the same system, without re-training. Users can easily switch between languages at any time while using the suite, and users can operate both English language and Chinese screens concurrently.

The AXS-One Enterprise suite can be seamlessly deployed on-site, or accessed remotely from a hub or cluster, located in any country. The system may be implemented in client-server mode, or for Internet-based access from any location. Like all AXS-One solutions, the AXS-One Enterprise suite supports operations across multiple divisions, companies, countries, and currencies, simplifying reporting, consolidation, and compliance worldwide. The system is also fully interoperable with existing systems, featuring specialized connectivity tools and utilities.

"China is poised for tremendous growth over the next few years. Many multi-national companies are looking for ways to actively enter this market and take advantage of its opportunities," said John Rade, President and Chief Executive of AXS-One. "By offering a new variant on our proven systems - currently used by 25 percent of the Global 2000 - AXS-One facilitates that entry by providing a rapid, low-risk, affordable solution. This concept is reinforced by the decision of a long-standing client, a major global insurance company, to implement our dual-language system as it launches business operations in the region."

The targeted version of the AXS-One Enterprise suite is expected to be available for general release in January 2003. Pricing starts at approximately $75,000, depending on the number of modules licensed and extent of usage.

About AXS-One Inc.

AXS-One (AMEX: AXO) is a provider of supply chain management solutions for service industries that extend the finance function and allow organizations to work collaboratively with their partners, suppliers, employees, and customers while preserving investments in existing systems. AXS-One has implemented high-volume, interoperable, scalable and secure business solutions for the global 2000. Its Web Services-based technology has been critically acclaimed as best of class. AXS-One has approximately 250 employees in offices worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is based in Rutherford, New Jersey, U.S.A. For further information, visit the AXS-One web site at http://www.AXS-One.com.

This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission.

AXS-One, e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART, and Tivity are trademarks of, and "Access Tomorrow Today," AXSPoint, and TransAXS are registered trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.

CONTACT:
AXS-One Inc., Rutherford
Bernard Cassidy, 201/372-6231
bcassidy@axsone.com
or
Springboard Public Relations
Domenick Cilea, 732/863-1900 x.102
dcilea@SpringboardPR.com