Technology and Business Consulting Veterans Join to Form Business Innovation Company Launch Creates New Resource for Organizations Looking To Achieve Business Goals Through Innovative Use of Technology

A team of senior technology and business consulting professionals today announced the launch of Business Innovation, a business and technology consulting firm dedicated to helping its clients achieve business objectives through innovative and cost-effective use of technology. Business Innovation, working on a fixed-price, fixed-deliverable basis, offers a portfolio of professional services including application and system design, integration and implementation, IT project/program management and business consulting.

BEVERLY, Mass.-June 27, 2002-A team of senior technology and business consulting professionals today announced the launch of Business Innovation, a business and technology consulting firm dedicated to helping its clients achieve business objectives through innovative and cost-effective use of technology. Business Innovation, working on a fixed-price, fixed-deliverable basis, offers a portfolio of professional services including application and system design, integration and implementation, IT project/program management and business consulting.

Founded by three Boston-area business and technology executives, Randall Gravlin, Peter Leap and David Owens, Business Innovations mission is to help companies achieve business value by aligning corporate goals and business processes with IT initiatives. Utilizing its in-depth, hands on expertise working with advanced technologies such as enterprise application integration (EAI) tools, .NET, Java and Web services, Business Innovation offers an on-time, on-budget guarantee for each engagement-- helping clients ensure faster time to market for business critical applications. The company will focus on serving New England businesses in the financial services, travel and leisure, retail, energy and utility, and healthcare industries.

In todays complex business world, good ideas arent enough -- efficient execution is key," said Randall Gravlin, President, Business Innovation. Working with a jigsaw puzzle of people, technologies and processes, businesses need to constantly be looking to leverage current IT investments, streamline business processes, maximize existing assets, create new revenue streams and strengthen customer relationships. In the current do more with less" economy, companies can greatly benefit from Business Innovations deep business expertise and technology implementation skills -- and mitigate the risks often associated with solving complex technology challenges."

Management Team:
Randall Gravlin, President
Randall, a former executive with Sapient Corporation, has over 20 years of experience in business development, strategy development, technology integration and operations and program management. Prior to founding Business Innovation, Randall was the director of program management at Sapient where he successfully managed highly complex IT projects for organizations such as Fidelity Investment, Bell Atlantic, Sallie Mae, Manulife, Merrill Lynch, Citizens Bank, ING, Alcoa, GTE and the Department of Defense. Prior to Sapient, Randall held numerous project and program management positions at General Dynamics.

Peter Leap, Vice President, Business Development
Peter, an industry veteran with 18 years of business development and sales experience, is responsible for driving Business Innovations corporate development and strategic growth initiatives. Throughout his career, Peter has been instrumental in helping established and entrepreneurial technology and professional services companies generate new business and new market opportunities. Prior to founding Business Innovation, Peter held various management positions at TAOS, Objectime, Inc., and Lynx Real-Time Systems, Digital Equipment Corporation, and Rockwell International.

David Owens, Director of Technology
David is regarded as one of the industrys foremost authorities on enterprise application integration (EAI) and enterprise architecture planning (EAP). During his 15 years as a technology evangelist, he has played a leadership role in helping companies improve business performance by applying advanced technologies to develop enterprise applications and technology frameworks. As Business Innovations director of technology, David is responsible for evaluating the ways in which technology will be used to create innovative IT solutions for Business Innovations clients.

Prior to joining Business Innovation, David was the director of technology at Sapient where he established and grew the companys IT organization and developed Sapients EAI and EAP methodologies and service offerings. He also built and lead technical teams for clients such as Sprint, Fidelity Investment, BigYellow.com, PSE&G, Merrill Lynch, NSTAR, Manulife, Pac Bell Internet, Mass Mutual, the State of Maine and the US Marine Corps. Prior to Sapient, David was a software architect at IBMs T.J. Watson Research Center.

About Business Innovation
Business Innovation is a business and technology consulting firm dedicated to helping its clients achieve business objectives through innovative, cost-effective use of technology. By blending strategic business skills, technology know-how, implementation expertise and a collaborative approach for each engagement, Business Innovation helps its clients drive efficiencies, increase revenue streams and build sustainable customer loyalty. Business Innovations industry insight, technology wisdom, and fixed price engagement model, allow companies to achieve business value from technology investments -- on time and on budget. More information about Business Information can be found at www.bus-innovation.com.