FileNet Enterprise Content Management Solution Helps HDFC Standard Life Reduce Operational Costs and Improve Collaboration;Streamlining & Automating Life Insurance Application Processing Helps Increase Efficiency & Improve Customer Service

COSTA MESA, Calif., March 1- HDFC Standard Life Insurance Company Limited (HDFC) recently selected an Enterprise Content Management (ECM) solution from FileNet Corporation (Nasdaq: FILE) to help streamline and automate the processing of life insurance new business applications. HDFC's ultimate goal is to become the top new life insurance company in India -- and achieve the same level of success within that market that the company enjoys worldwide.

Incorporated in August of 2000, HDFC Standard Life is a joint venture between Housing Development Finance Corporation LTD (HDFC) and The Standard Life Assurance Company (Standard Life), focusing on the life insurance market in India. The joint venture was created to merge core competencies and provide highly customized life insurance services within the Indian marketplace. FileNet, the leading provider of ECM solutions, and FileNet's business partner, Datamatics, provided a solution designed to deliver fast results. Datamatics developed an enterprise infrastructure for HDFC Standard Life that leveraged FileNet's Image Manager -- and the company has already realized improvements in both efficiency and customer satisfaction.

"HDFC Standard Life has experienced remarkable growth," said Hugh Sutherland, vice president for Asia Pacific for FileNet. "As the company expands, it is imperative that it implements a solution that will help it to maintain its focus and achieve its objectives. We believe that HDFC Standard Life's choice of FileNet's ECM solution is based on our industry leadership, best practices, and experience in delivering ECM solutions to financial services and insurance customers worldwide."

FileNet's ECM solution makes it easier for HDFC Standard Life to scan, index and store documents -- including proposal forms, age proofs, checklists, tax returns and medical reports -- in a highly flexible and secure environment. Since the documents are stored online, they can be easily accessed and shared among users.

"Our FileNet solution has helped us to improve collaboration among employees through the easy sharing and accessing of information pertinent to new business," said Sunil Rawlani, HDFC Standard Life, Head of Information Systems and Technology. "It has also helped us to reduce operational costs, as less resources are required in the processing of a variety of documents."

Rawlani noted that HDFC Standard Life is constantly seeking new ways to improve customer service and satisfaction, provide greater value to its customers, develop innovative products that cater to the various needs of a diverse range of customers, and leverage technology, like FileNet ECM to improve service standards and market share.

By deploying FileNet's ECM solution, HDFC Standard Life has been able to make better and more efficient decisions when responding to customers' needs and requirements, ultimately providing better overall customer service. In addition, the highly scalable solution is able to accommodate an increasing document load as HDFC Standard Life's business expands.

About FileNet

FileNet Corporation (Nasdaq: FILE) helps organizations make better decisions by managing the content and processes that drive their business. FileNet's ECM solutions allow customers to build and sustain competitive advantage by managing content throughout their organizations, automating and streamlining their business processes, and providing the full spectrum of connectivity needed to simplify their critical and everyday decision making.

FileNet ECM solutions deliver a comprehensive set of capabilities that integrate with existing information systems to provide cost-effective solutions that solve real-world business problems. Since the company's founding in 1982, more than 4,000 organizations, including 81 of the Fortune 100, have taken advantage of FileNet solutions for help in managing their mission-critical content and processes.

Headquartered in Costa Mesa, Calif., with offices in Australia, Singapore, Hong Kong, Korea and Japan, the company markets its innovative solutions in more than 90 countries through its own global sales, professional services, and support organizations, as well as via its ValueNET(R) Partner network of resellers, system integrators, and application developers. Visit FileNet's Web site at www.FileNet.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties, including statements regarding the potential benefits of using FileNet's products. Words such as "anticipates," "expects," "intends," "plans," "believes," "may," "will" and similar expressions are intended to identify forward-looking statements. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are FileNet's ability to develop, complete, introduce, market, distribute and gain market acceptance for its products and technologies in a timely manner; announcements of technological innovations, new products or product enhancements by FileNet or its competitors; and other factors detailed in the FileNet's filings with the Securities and Exchange Commission, including its recent filings on Forms 10-K and 10-Q.

For further information, please contact Sonal Dave-Mehta of FileNet Corporation, +1-714-327-3746, [email protected].

CONTACT: Sonal Dave-Mehta of FileNet Corporation, +1-714-327-3746, [email protected]

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