CELCORP NAMES LOREN BURNETT PRESIDENT & CEO

Former RipTech executive to lead Celcorp, the leader in intelligent software agents for integration.

WASHINGTON -- Celcorp, the leader in intelligent software agents for integration, announced today that Loren Burnett has been named the companys president and CEO.

A skilled executive with a track record for enhancing the performance and growth of high-tech companies, Burnett will increase Celcorps market presence as he develops strategies to enhance its products, channels and infrastructure.

"Celcorp has tremendous potential. It has market-leading, patent-pending technology that provides its customers with an immediate and substantial return on investment. Already, Celcorp has Fortune 500 customers," Burnett said. "I look forward to working with its highly-talented team to aggressively grow the business and dominate the market while maximizing shareholder wealth."

Burnetts background includes several successful posts. As senior vice president and chief financial officer of Riptech, a leading managed security services provider, he was instrumental in the companys August 2002 sale to Symantec, Inc., for $145 million -- a transaction that exceeded $100 million in shareholder profits. In 1998, Burnett co-founded FutureNext, where his work as chief operating officer grew revenues to more than $72 million in less than two years and raised more than $110 million of financing. Burnett, a Virginia certified public accountant, also managed a successful IPO for The Hunter Group just before he executed its sale for more than $155 million, creating a $150 million investor profit.

"Loren Burnett is a talented entrepreneur with a history of building successful companies," said Chris Schrichte, president & managing partner of NewMarket Global, Celcorps largest investor. "His experience and vision will be a great fit to take Celcorp to its next level of growth."

Burnett replaces Jas Dhillon, who is now executive vice president of corporate development.

About Celcorp, Inc.

As the leader in intelligent software agents for integration, Celcorp (http://www.celcorp.com) enables companies to preserve investments in complex legacy systems. The companys main product, Celware, empowers companies with technology that seamlessly integrates old systems into new business endeavors. Celware records user behavior and system interactions, uses artificial intelligence to assemble processes to access information, and automatically adapts to change - generating immediate ROI. Celcorp is a privately held company.