Red Herring Announces Approva as North America Top 100 Winner

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Award Recognizes the 100 "Most Promising" Companies Driving the Future of Technology

Red Herring

Approva's recognition as a Red Herring Top 100 winner is a strong validation of our continued growth and market leadership in delivering next generation controls intelligence solutions that reduce risk, streamline compliance and accelerate our customers core business processes.

Approva® Corporation (http://www.approva.net)], the leading provider of controls intelligence software, announced today that the company has been selected a Red Herring Top 100 winner. The award recognizes the 100 most innovative private technology companies headquartered in North America.

"The large number of entries in this year's competition demonstrates that the economic slowdown has not affected technology innovation, "said Joel Dreyfuss, editor-in-chief of Red Herring. "The companies on this year's list are proof that creative ideas continue to find the funding that turns them into promising businesses."

Red Herring's annual lists of top private companies are an important part of the company's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Red Herring's editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

To honor the CEOs of Red Herring 100 North America companies, Red Herring invited each one to present his or her company at its Red Herring North America 2008 event, May 12-14, at the San Jose Fairmont. As the venue for the unveiling of the Top 100 private companies in North America, this event draws unparalleled attention from decision makers and industry observers across the continent. This year marks the 11th anniversary of the Red Herring 100 Awards.

"The Red Herring Top 100 has historically been awarded to companies that define their industry," said Prashanth "PV" Boccasam, Founder and CEO, Approva. "Approva's recognition as a Red Herring Top 100 winner is a strong validation of our continued growth and market leadership in delivering next generation controls intelligence solutions that reduce risk, streamline compliance and accelerate our customers core business processes."

About Red Herring
Red Herring is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at http://www.redherring.com.

About Approva
Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300.

Media Contacts:
Priya Ramesh
Approva
703-956-8409
priya.ramesh @ approva.net

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