Rivermine Appoints Technology Veteran Chip Drapeau to Board of Directors

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Former President and CEO of MRO Software Brings Technology Leadership and Insight to Premier Telecom Expense Management Provider

Companies are now looking to unify management of all enterprise assets, including those in the IT, facilities and telecom areas, so I feel that I can help Rivermine set their strategic direction to meet the needs of this evolving market.

Rivermine, the leading provider of automated telecom expense management (TEM) solutions, today announced that former MRO Software president and CEO, Chip Drapeau, has joined its Board of Directors. Drapeau brings more than 25 years of technology leadership experience to Rivermine. In 1982 he joined MRO Software, a leading enterprise asset management company, and held a variety of management and executive positions before becoming the company's CEO in 1998. Drapeau's tenure with MRO Software culminated in a very successful acquisition in 2006 by one of the world's largest software and systems integration companies.

"Chip has a proven track record of helping technology companies scale to meet the needs of thousands of customers globally," said Mark Logan, president and CEO, Rivermine. "With hundreds of companies currently using Rivermine's solutions and 110% sales growth in 2008, this is exactly the type of experience we need to grow to the next level."

Prior to being named CEO of MRO Software, Drapeau held roles in the sales, support, and research and development functions of the company. As CEO, he led a highly profitable organization and set the company's strategic and product direction.

"Telecom and network asset management are natural extensions of the multi-billion dollar enterprise asset management industry that MRO Software helped to establish," said Drapeau. "Companies are now looking to unify management of all enterprise assets, including those in the IT, facilities and telecom areas, so I feel that I can help Rivermine set their strategic direction to meet the needs of this evolving market."

Drapeau joins the Rivermine board as an independent member, bringing the total number of directors to 7.

About Rivermine:
Rivermine is a leading provider of automated, award-winning solutions that enable organizations to gain visibility into, and control over, their wireline and wireless telecom spend. More than 250 companies -- including many Fortune 1000 corporations and large government agencies -- have selected Rivermine to optimize their overall telecom environments and dramatically reduce costs. These patent-pending Telecom Expense Management (TEM) solutions automate the entire telecom lifecycle including contract sourcing, ordering, inventory management, invoice processing and auditing, wireless expense management and reporting/analytics. For more information, visit http://www.rivermine.com.

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