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Rivermine Appoints Former PeopleSoft Senior Executive Mark Logan CEO
Company Ramps Up to Serve Growing Enterprise Telecommunications Management Market

Fairfax, VA, June 21, 2004 - With financing in hand, a prestigious customer base and enterprise-class products, Rivermine Software is accelerating its growth plans with the appointment of Mark Logan as CEO. Logan joins Rivermine, the leading provider of telecommunications management solutions to network-centric organizations, with more than 20 years of sales and management experience with enterprise software companies, most recently with PeopleSoft.

"Mark Logan brings the right combination of talent, experience and tenacity to build upon Rivermine's success in the growing Enterprise Telecommunications Management (ETM) software market," said Bryant Dunetz, Rivermine's chairman of the board and co-founder. "We are confident he will provide the leadership necessary for our rapid expansion."

The CEO announcement comes on the heels of recent financing-led by Columbia Capital and Valhalla Partners. Rivermine's recent success includes securing four new contracts with Fortune 1000 companies and doubling its employee base over the last six months.

"Rivermine's expertise in a growing market, its impressive blue-chip client list and recent funding are a testament to the company's business model," said Logan. "We have all of the elements to be a force in the enterprise application space."

Prior to joining Rivermine, Logan last served as a vice president and general manager for PeopleSoft's CRM Business Unit, helping to establish PeopleSoft as a leading CRM software vendor. Logan joined PeopleSoft from its acquisition of JD Edwards, where as a vice president and general manager he led the company's aggressive CRM market entry. As a senior executive of YOUcentric Inc., a start-up software application firm, he successfully grew the company's CRM sales operations to its acquisition by JD Edwards in 2001.

"Rivermine is the software leader because it is the only company in the ETM space that sells a full suite of software that can be provided at the customer's site or in a hosted environment," added Dunetz. "Mark adds to Rivermine's telecom expertise a successful track record in the enterprise application software arena; this combination brings great value to Rivermine's customers."

Mark Logan replaces Bryant Dunetz who served as the company's CEO since its inception in 2001. Dunetz is one of four company co-founders and will remain chairman of the board.

About Valhalla Partners

Valhalla Partners is a leading venture capital firm focused on working closely with entrepreneurs to build enduring technology companies. Valhalla assists entrepreneurs by offering both seasoned advice and best practices which have been developed over the last twenty years. During that time, the Valhalla team has invested in or served as senior executives in over 100 entrepreneurial companies. For more information, visit www.valhallapartners.com.

About Columbia Capital

Columbia Capital is a premier private equity firm focused exclusively on the communications and information technology industries, investing in both emerging service providers and innovative, next generation technologies. Columbia Capital has invested in more than 60 communications and technology companies since 1989 and currently manages approximately $1.4 billion. Additional information about Columbia Capital can be found at www.colcap.com.

About Rivermine:
Rivermine is a leading provider of automated, award-winning solutions that enable organizations to gain visibility into, and control over, their wireline and wireless telecom spend. Hundreds of companies including many Fortune 1000 corporations and large government agencies have selected Rivermine to optimize their overall telecom environments and dramatically reduce costs. Rivermine currently manages over $6 billion in annual telecom spend globally. The company's patent-pending Telecom Expense Management (TEM) solutions automate the entire telecom lifecycle including ordering, inventory management, invoice processing and auditing, wireless expense management, mobile device management, and reporting/analytics.

Rivermine's Telecom Expense Management software andmanaged services save many companies and governmentagencies MILLIONS of dollars per year.

Rivermine's Telecom Expense Management software and
managed services save many companies and government
agencies MILLIONS of dollars per year.