Prominent Executives Form Acteon Technologies' Advisory Board
by Anonymous

WESTFORD, MA August, 2003 -- Acteon Technologies, Inc., developer of powerful, easy-to-use financial planning software, announced that Mead Wyman, former CFO of Mercury Computer Systems, and Ken Coleman, co-founder and executive vice president of TimeTrade Systems, Inc., have formed the company's Board of Advisors.

Wyman and Coleman, recognized leaders in venture-funded and early-stage technology firms, will provide strategic direction to the company's management team in the positioning, marketing, and development of the company's new budgeting and forecasting application, Acteon BudgetGuide. Acteon Technologies' Board of Advisors will also play an important role in product planning, business development and corporate management.

"There is increasing demand for simpler, better and more affordable financial planning software, and we've built a great team to help meet it," said Chris Lorch, founder and president of Acteon Technologies. "Ken and Mead are perfect additions to the Acteon team, offering a mix of entrepreneurial insight and strategic expertise that fits very nicely with our company. Their insight will be important as we prepare to roll out Acteon BudgetGuide, our first offering, and plan for future growth."

Acteon BudgetGuide offers an alternative to complex spreadsheet-based budgeting or expensive ERP-class planning tools. Designed for mid-market companies, Acteon BudgetGuide helps improve financial planning processes, reduces costs, and strengthens financial controls in the budgeting process.

Mead Wyman has served in various senior financial executive roles during the past 30 years, including Mercury Computer Systems, Dataware, Lotus Development Corporation, Prime Computer and Millipore. During his career, he was also a general partner at Hambrecht and Quist Venture Partners. Prior to his retirement in 2002, Wyman was the senior vice president, chief financial officer and treasurer of Mercury. In addition, Wyman led the initial public offerings of three companies: including Mercury as well as Dataware, and Lotus, where he served as the company's first Chief Financial Officer. Wyman is a graduate of the Massachusetts Institute of Technology and Harvard Business School, and sits on the board of directors of Grupo Guayacan, a Puerto Rico private equity investments fund.

Ken Coleman is co-founder and executive vice president of TimeTrade Systems, Inc. Since working with Bain & Company as a management consultant, Coleman has spent the past 15 years in senior executive roles with venture-backed, early-stage software and technical services companies including Lionbridge, Dataware, Autographix, and Personics. He has served as the chief marketing and business development officer for these companies, and has spearheaded nearly 20 acquisitions, numerous strategic partnerships, and several venture financings.

TimeTrade is Coleman's third start-up; his marketing leadership helped Lionbridge grow from a start-up to a successful IPO and industry leader in four years. He also co-founded Personics Corporation with Marc Peterson, CEO of TimeTrade. Ken is a graduate of Stanford University and Harvard Business School.

About Acteon Technologies
Based in Westford, Massachusetts, Acteon Technologies, Inc. is a developer of high quality business solutions for small and middle market companies. With its flagship product, Acteon BudgetGuideT, Acteon is working to fill the gaps in business functionality left by most Enterprise Resource Management (ERM) and General Ledger (G/L) accounting applications. Acteon Technologies was founded in 2000 and is privately held.

For more information about Acteon Technologies, visit http://www.acteontechnologies.com





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