RUTHERFORD, N.J., Aug 15, 2002 (BUSINESS WIRE) -- AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced that license deals totaling over US$700,000 from two major financial services firms closed in the first few weeks of the current third quarter.

The companies will deploy AXS-One's e-Cellerator(TM) technology automating aspects of their financial operations, and streamlining information distribution and communications with colleagues, customers, and partners via the Internet.

"Several major deals that were postponed as of the end of Q2 have now been completed, further validating the success and strength of our business model," commented AXS-One Chief Executive Officer John Rade. "The value of the AXS-One Collaboration FrameWorks(TM) approach has especially resonated with financial services organizations, who are challenged to address new demands brought on by mergers and acquisitions, new partnerships, and other strategic changes. With AXS-One Collaboration FrameWorks solutions, they can address the need to improve business performance in key areas, preserving existing investments while achieving tangible results in a short period of time."

Based on a robust web-services architecture, AXS-One Collaboration FrameWorks solutions comprise a suite of modular solutions deployed over the Internet. The software features targeted functionality for financial institutions to automate a range of business processes - without replacing existing systems or impacting long-term, multi-year strategic initiatives.

AXS-One's customers use the AXS-One Collaboration FrameWorks solutions to centralize critical information from multiple sources, static or otherwise, and enable fast, seamless collaboration via the Internet for a range of business processes - including consolidated statement presentment, lockbox processing, loan origination, new account processing, report distribution, and more. Critical information can be re-purposed and integrated into best practice process templates that allow intelligent business actions to be taken automatically.

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.
Bernard Cassidy, 201/372-6231; bcassidy@axsone.com
or
Springboard Public Relations
Domenick Cilea, 732/863-1900 ext. 102
dcilea@SpringboardPR.com