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PRAEDEASM ANNOUNCES THE COMMERCIAL
RELEASE OF THE PRAEDEA DATA EXTRACTION PLATFORMTM

Software for Fast, Accurate and Cost-Effective Data Extraction

New York, October 1, 2003 – Praedea Solutions, Inc. (“PraedeaSM”) (www.praedea.com), a developer and licensor of universal enterprise software solutions providing real-time data extraction from financial/SEC filings and other documents, is proud to announce the commercial release of the Praedea Data Extraction PlatformTM (the “Praedea DEPTM”).

The Praedea DEP is a universal enterprise software solution that replaces the manual processes and legacy systems currently used to collect data from financial/SEC filings and other documents. Based on over 60 years of research by the Praedea team, the Praedea DEP automatically extracts predetermined numeric figures and text from semi-structured electronic documents in real-time, while retaining links to underlying sources for absolute data transparency. With the Praedea DEP, detailed data is extracted from US and foreign (in any language) documents such as:

  • SEC forms 10-K, 10-Q, S-1, S-4 and DEF 14A
  • Earnings and economics reports
  • Ownership and mutual fund filings
  • Private company financial statements

Extracted data is seamlessly validated for quality control purposes and deposited into existing database schemas. Thereafter, the data is delivered in XML or XBRL to each end-user’s custom specifications. With the Praedea DEP’s Source LinksTM, a simple “click-through” from any output format (including Excel) follows each numeric figure and textual reference back to its precise location in underlying source documents – thus, fulfilling the market’s increasing demand for absolute data transparency.

The benefits of the Praedea DEP to both data vendors and financial institutions are numerous and, given its immediate implementation, can be realized in the near term. These benefits include:

  • Reducing data collection costs and resource requirements: savings of up to 80% possible
  • Improving global workflow efficiency
  • Collecting more detailed data faster, more accurately and to precise specifications
  • Expediting quality control processes
  • Enhancing data transparency with Source Links
  • Delivering enriched and customized data to end-users in real-time
  • Achieving more with limited internal technology and R&D resources

“The commercial release of the Praedea DEP represents the culmination of many years of market research and technological development by the Praedea team,” said James Graf, Chief Executive of Praedea. “Most importantly, the Praedea DEP successfully addresses many of the most important issues currently confronting data vendors and financial institutions regarding the collection and use of market data.”

About Praedea

PraedeaSM develops and licenses universal enterprise software solutions providing real-time data extraction from financial/SEC filings and other documents. Utilizing proprietary text-mining automation, the Praedea Data Extraction PlatformTM (the “Praedea DEPTM”) automatically extracts predetermined numeric figures and text from semi-structured electronic documents, while retaining “Source LinksTM” (hyperlinks to precise locations in underlying source documents) for absolute data transparency. Based in New York, Praedea was established in 2000. Praedea has approximately 30 employees located in New York, Kiev and Kuala Lumpur. For more information about Praedea or the Praedea DEP, visit the company’s website at www.praedea.com or call (212) 206-8529.