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United States

EASi Hits $5 Million Mark in 2008 Company Turns in Banner Year Performance

27 January 2009
Source: EASi

Contact: Amy Damianakes
EASi
amy@damianakes.com
(925) 937-4561

Pleasanton, CA – January 27, 2009 –Equity Administration Solutions, Inc. (EASi), the leading independent stock plan management software company, today announced that it surpassed its 2008 billings and product development goals and delivered strong financial performance ensuring the company is here to stay to continue making its mark on the industry.

The company had a 73% increase in billings year-over-year and passed the $5 million mark, growing its customer base by 50%. “In the two years since EASi began offering its full FAS123R solution, the company has won and kept nearly 400 customers and clearly set the new standard in the industry,” said Vito Palmieri, Chief Executive Officer for EASi.

Financing future development and growth at a time when other companies had failed offerings, EASi closed $3.5 million in Series C equity financing during 2008. “Our company is on a success trajectory of customer renewals, custom development and record sales growth that means we are here to stay,” said Dan Katzman, Chief Financial Officer for EASi. “We are prepared to ride out the challenging economy and remain the independent leader bringing innovative solutions to the industry.”

“EASi is redefining the way companies manage and report on equity compensation,” said Mark Ebersole, EASi’s visionary Chief Technology Officer. The architecture of our product lets our customers do things in elegant ways that are simply not possible with competitive offerings.” EASi plans to maintain its leadership in the industry with second- to-none solutions in areas including IFRS 2, Performance Awards and WorkStream process automation.

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