FileNet Expands Global Presence With Opening of Singapore Office; New Regional Headquarters Enables Company to Tap Growing ECM Markets in Asia-Pacific, China and India

Copyright 2004 PR Newswire Association, Inc.

PR Newswire

April 7, 2004, Wednesday

FINANCIAL NEWS

TO BUSINESS AND TECHNOLOGY EDITORS

875 words

FileNet Expands Global Presence With Opening of Singapore Office;New Regional Headquarters Enables Company to Tap Growing ECM Markets in Asia-Pacific, China and India

SINGAPORE, April 7

FileNet Corporation (Nasdaq: FILE), the leading provider of Enterprise Content Management (ECM) solutions, today announced it has expanded its presence in the Asia-Pacific region, with the opening of its new offices in Singapore.

The new office, based in the central business district of Singapore, will function as the Asia-Pacific headquarters for FileNet's Sales, Marketing, Professional Services, Finance & Administration and Management functions, and will reinforce its presence in the region, enabling the company to better serve its customers.

In a recent report, industry analyst firm Ovum says Asia-Pacific is the fastest growing region for content management, and predicts 12 percent of global revenues for content management, or $241 million, will come from Asia-Pacific by 2007. Specific to China and India, Ovum estimates that investment in ECM will grow more than 20 percent during the next few years.(1)

FileNet Asia-Pacific customers include, Woori Bank, Korea's second largest commercial bank with a customer base of 13 million and AXA Insurance Property and Casualty, one of the leading insurance companies in the region.

"Our strategy is to continue to expand FileNet's customer base within the government, insurance, financial services and banking sectors in the Asia Pacific market, including Japan, Greater China, ASEAN, India and Australasia," said Hugh Sutherland, vice president, Asia Pacific at FileNet Corporation. "Our new Singapore office enables FileNet to be closer to the many major banks, government and global enterprises that are headquartered in Singapore, and gives us the ability to enhance our support for the growing customer base in the Asia-Pacific region." Contact information for FileNet's new Singapore office is as follows:

FileNet Corporation Asia Pacific Pte Ltd

6 Battery Road, 21-01, Singapore 049909

Tel: (65) 6538 0966, Fax (65) 6538 0977

About FileNet

FileNet Corporation (Nasdaq: FILE) helps organizations make better decisions faster by managing the content and processes that drive their business. FileNet's Enterprise Content Management (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., the Company markets its innovative ECM 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.

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 anticipated market for content management in Asia, and the plans, goals and implementation of FileNet's strategy for the Asian market. 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 the possibility that the Asian content management market may not grow as currently expected, and that FileNet may not be successful in maintaining or expanding its share of the Asian content management market; 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; general market conditions; 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.

Note to editors: FileNet and ValueNet are registered trademarks of FileNet Corporation. All other company or product names referenced in this release may be trademarks or registered trademarks of their respective owners.

Media Contact:

Vera Tan

FileNet Corporation

Phone: 65-65311915

Email: [email protected]

Sonal Dave-Mehta

FileNet Corporation

Phone: 714-327-3746

Email: [email protected]

(1) Content Management Market Forecast, Ovum 2003.

SOURCE FileNet Corporation

CONTACT: Vera Tan, +65-65311915, [email protected], or Sonal Dave-Mehta, +1-714-327-3746, [email protected], both of FileNet Corporation

URL: http://www.prnewswire.com

April 8, 2004

Copyright © 2004 LexisNexis, a division of Reed Elsevier Inc. All rights reserved.
Terms and Conditions Privacy Policy