Replicon Co-founders Named Finalists for Ernst & Young Entrepreneur Of The Year Award

Calgary, Alberta, Canada (PRWEB) July 20, 2005

Replicon Inc., the leading provider of time tracking software, is pleased to announce that CEO and co-founder Raj Narayanaswamy and Lakshmi Raj, were named as finalists in Technology for the Ernst & Young Entrepreneur of the Year® 2005 award. The co-founders were selected from an impressive list of nominees, chosen for their business leadership skills, determination, and vision.

The Entrepreneur Of The Year program was founded by Ernst & Young to celebrate great entrepreneurs and heighten awareness of the economic impact of entrepreneurial ventures. The program is nationally sponsored by Global Television Network, National Post, La Presse, RDI and Roynat Capital.

"There is a great wealth of entrepreneurial talent in Alberta, Saskatchewan and Manitoba, and these men and women bring countless benefits, both economic and social, to their industries and the communities in which they operate," says Barry Munro, director of the Ernst & Young Entrepreneur Of The Year awards program for the Prairies region. "We are proud to promote and celebrate the spirit, the drive and the incredible success stories of our Prairie entrepreneurs," he says.

Under Narayanaswamy and Raj’s direction, Replicon has grown revenues in excess of 700% over the past five years. Today, more than 2000 customers world-wide have deployed Replicon’s web-based time and billing solutions.

"Being selected as a finalist for the Ernst & Young Entrepreneur of the Year Program is particularly important to us, as it is a testimony of the true entrepreneurial spirit that created Replicon," stated Narayanaswamy. "This entrepreneurial spirit continues to be very much alive today in both our management team and our employees. In looking towards the future, we will continue to push our limits; introducing new products, reaching new markets, and continuously improving upon ourselves."

Replicon’s Web TimeSheet helps organizations manage corporate productivity, streamline time and billing, and increase bottom-line revenues. Replicon’s products are available for purchase and easy download at Replicon’s web site at http://www.replicon.com.

About Ernst & Young

Ernst & Young, a global leader in professional services, is committed to restoring the public’s trust in professional services firms and in the quality of financial reporting. Its 100,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism, providing a range of sophisticated services centred on our core competencies of auditing, accounting, tax, and transactions. Further information about Ernst & Young and its approach to a variety of business issues can be found at http://www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization.

About Replicon

Founded in 1996, Replicon is the world leader in web-based time and expense management solutions, and the innovator in productivity software. Thanks to Replicon’s flagship application Web Timesheet, professional services organizations now have quantitative, real-time analysis of workforce productivity and a way to set meaningful productivity goals for employees that are tied directly to bottom line revenues. Replicon launched version 1.0 in 1998 and has grown revenues in excess of 719% for the last five years. Replicon has grown its total user base to more than 1.1 million users in 52 countries today.

The company has been recognized by Profit Magazine as one of the fastest growing companies in Canada for the past 2 consecutive years and by Alberta Venture Magazine/Grant Thornton Chartered Accountants as one of the fastest growing company in Alberta for the last 4 consecutive years. Most recently it was selected as a finalist for Ernst & Young's Entrepreneur of the Year Award and was also recognized as one of Canada’s top exporters by the Department of Foreign Affairs and International Trade. Replicon is a privately held company. For more information, visit http://www.replicon.com.

For Editorial Inquiries:

Caroline Bujak

Marketing Communications

Replicon Inc.

1-877-737-5420 ext 256

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