RUTHERFORD, N.J.--(BUSINESS WIRE)--May 29, 2003--AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced that WestLB Panmure Securities Inc., the US broker/dealer arm of WestLB AG, is using the AXS-One(R) Email and Instant Messaging Management solution to archive and provide supervisory query access for the messaging communications of its brokers to support its compliance and messaging operations.

The first phase of the implementation was completed within a tight two-week schedule.

AXS-One's Email and Instant Messaging Management offering is an enterprise solution which assists any organization in establishing policies and controls for management and compliance objectives. By providing a highly scalable secure content and business process infrastructure that is accessible through Web-Services, the AXS-One Email and Instant Message Management solution addresses the traditional requirements of storage utilization, and policy-driven management of long-term messaging content storage. This helps eliminate the laborious lengthy work associated with manually monitoring and measuring business objectives for compliance and oversight regulations.

"To replace our old e-mail compliance systems, we conducted a comprehensive search for one system that not only needed to fulfill the regulatory requirements for e-mail retention and supervision, but also would allow us to start utilizing instant messaging as a client communication tool with full regulatory retention and supervision," said Peter Jensen, Chief Operating Officer and Co-head of WestLB Panmure Securities. "We found that the AXS-One Email and Instant Message Management solution is the most comprehensive solution in the market today. Utilizing the system, we have been impressed by the ease of use both from a supervisory and individual broker compliance viewpoint and from its enhanced archival and query capabilities for other business purposes. We are confident the AXS-One solution will provide us with significant business benefits beyond compliance requirements."

The AXS-One Email and Instant Message Management solution provides several key benefits, such as lifecycle management options for all archived data, content surveillance, key word and full-text query capabilities, security and audit trail capabilities, and the storage of messages and attachments on tamperproof storage media.

"Regulatory compliance is more than just the capture and long term storage of electronic communications. Additional regulatory and non-regulatory requirements have necessitated the need for a much broader platform solution to enhance the existing archival and monitoring needs of corporate information," commented John Rade, Chief Executive Officer of AXS-One. "With AXS-One's Email and Instant Message Management solution, we have provided WestLB Panmure Securities Inc. with more than just an email archival and surveillance solution. They now also have access to all relevant transactional information and business communications to be able to get an accurate view of client activities. This enhanced archive improves corporate visibility and control which can help them to avoid risks."

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.axsone.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, the AXS-One logo, "Access Tomorrow Today," AXSPoint, and TransAXS are registered trademarks of, and e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART, and Tivity are 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
             Agency Contact:
             Springboard Public Relations
             Domenick Cilea, 732/863-1900 x.102
             dcilea@SpringboardPR.com

    SOURCE: AXS-One Inc.