IPO Alternative -- cBrain Launches Internet IPO Service with Direct Sales of Shares

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cBrain went public in February 2006 and became the first company to sell shares directly to the public in the initial offering. The software solution was developed by cBrain and a modified version is now being offered as a general service to private companies that wish to be publicly listed without the cost of a traditional IPO.

cBrain went public in February 2006 and became the first company to sell shares directly to the public in the initial offering. The software solution was developed by cBrain and a modified version is now being offered as a general service to private companies that wish to be publicly listed without the cost of a traditional IPO.

The IPO service is currently available for listings on the Copenhagen exchange (http://www.omxgroup.com/nordicexchange) as well as the First North exchange. A Danish language version is available at http://www.cTrade.dk.

Challenging traditional thinking the IPO service is not backed by an investment bank. The cost of the cBrain IPO service has therefore been greatly reduced compared to a traditional IPO. The service is also referred to as "LEAN-IPO".

Investors can sign up and become pre-registered for upcoming IPO and thus be sure to be able to participate in the initial offerings before the stock is traded on the exchange. Once signed up it is easy to buy stock on a "first-come-first-serve" basis.

It must be noted that the IPO service is only a hosted Internet service. When a company offers shares for sale using this service, that company is responsible for adhering to the regulatory compliance for the particular exchange where the shares will later be traded.

cBrain's customers include Sonofon, Carlsberg, PricewaterhouseCoopers, Ernst & Young, HP, Danish Ministry of Taxation, Ministry of Interior and Health, Danish National Space Center, The Danish Social Democrats and many other private and public organizations.

About cBrain Technology

cBrain delivers individualized Business Process Management (BPM) solutions to a variety of business segments, non-profit organizations, governmental agencies and municipalities. cBrain offers composite applications based on SOA architecture (XML and Web Services) seamlessly integrated with existing systems and infrastructure.

cBrain is a pioneer in regulatory compliance where project portfolio management, collaboration and document management converge.

cBrain's design methodology and extensive XML component library produces composite applications that are tailored to support the exact needs and roles of the people involved in the business process knowledge sharing.

For more information, please contact:

Europe:

Per Tejs Knudsen, CEO

Anne Dorthe Hermansen, Investor Relations

Phone: +45 4011 8608

USA:

Poul J. Hebsgaard

(508) 229-2774

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POUL HEBSGAARD
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