Round of Financing Spurs New Enhanced Search Solutions from Hiawatha Island Software

Belmont Capital Partners, LLC Members to Join Board of Directors

CONCORD, NH – January 17, 2001 – Hiawatha Island Software Company, Inc. (“HiSoftware”), a leader in knowledge management and ebusiness solutions, today announced that it has received financing to support future product development and its sales and marketing strategy. This investment was through a private placement from Belmont Capital Partners, LLC (“Belmont Capital”) venture capital company known for its interest in technology companies.

“We see a tremendous market and unlimited potential for HiSoftware.  Their knowledge management solutions will have a profound effect on organizations intranet and extranet search initiatives and the associated management of electronic information,” said Robert P. Khederian, Chairman of Belmont Capital.

Robert P. Khederian and Kenneth V. Hachikian, of Belmont Capital will join David C. Arnold of Henniker River Group, LLC on the Board of Directors of HiSoftware.  Mr. Khederian founded three successful companies, has served on the Boards of RealWorld Corporation (recently acquired by Great Plains Software) and currently serves as the Chairman of Belmont Capital.  Mr. Hachikian has served as President, CEO and COO of numerous companies and Chairman of the Board of RealWorld Corporation and is a member of the Board of Directors for FastWeb, LLC.  Mr. Hachikian will serve as the Chairman of the Board for HiSoftware.

“The combination of financing, the addition of Mr. Khederian and Mr. Hachikian to the Board of Directors, along with the management support provided to us by Henniker River Group gives us the needed bandwidth to expand the early market presence we already command,” said Robert B. Yonaitis, president and CEO of HiSoftware. 

ABOUT HISOFTWARE
HiSoftware Company, the leader in enterprise content quality management solutions, provides innovative products that empower quality assurance teams, content developers, Web site architects, and company executives to work collaboratively on their efforts to create and manage corporate Web standards for Accessibility, Privacy, Searchability, Usability and custom guidelines and policies. HiSoftware’s integrated, full lifecycle solutions dramatically reduce the time required to test, manage and deploy e-business Web sites.

HiSoftware works closely with industry leaders and visionaries to provide solutions for today's information accessibility, content quality, search and retrieval needs. HiSoftware’s customers represent Fortune 500 companies, and many of the largest e-commerce, government, and educational sites in North America and around the world and include ChevronTexaco, Commerce One, Mercury Interactive, and Microsoft Government.

Founded in 1998, HiSoftware Company maintains North American corporate headquarters in Concord, New Hampshire. Further information about HiSoftware can be found online at www.hisoftware.com

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HiSoftware and AccVerify are registered trademarks of Hiawatha Island Software Company, Inc. Microsoft, Microsoft FrontPage, Microsoft Office, .NET, Windows, and Windows NT are either registered trademarks or trademarks of Microsoft Corporation. Any and all other product and company names mentioned herein are the trademarks or service marks of their respective owners.

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