Whitehill Technologies Experiences Record Growth in 2005

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Whitehill Technologies, Inc. today announced that the company experienced record growth in 2005, with a prestigious new list of clients, business partnerships, awards and product innovations.

Whitehill Technologies, Inc. today announced that the company experienced record growth in 2005, with a prestigious new list of clients, business partnerships, awards and product innovations.

“Our record success is proof that our corporate philosophy is working,” said Paul McSpurren, President and CEO, Whitehill Technologies, Inc. “We’ve always been focused on innovation, customer satisfaction and business performance, and that focus continues to pay off.”

Over the last six consecutive quarters, Whitehill has averaged double-digit year-over-year revenue growth. Revenue for the most recently completed quarter was up 30 per cent over 2004, with EBITDA almost tripling for the same period.

Prestigious new client wins

Last month, Whitehill announced its relationship with The Hanover Group, one of the top 35 property and casualty carriers in the U.S., helping Hanover convert its policy documents to electronic format. “Whitehill’s role in the project was multi-tiered and we had a hard deadline to meet,” said Mike Clifton, Vice President, IT, The Hanover Insurance Group. “Whitehill’s solutions helped us meet that deadline, letting The Hanover serve our agents better by providing them with easy-to-use online access to policy documents.”

In December, Whitehill won a contract with Strickland Insurance Group (SIG), a P&C carrier which wrote approximately $400 million in direct billed premiums last year. SIG has over 2,000 independent agents in North Carolina, and works through general agencies in 41 other states. Other new clients include Access General Insurance, a leading provider of turn-key P&C insurance programs, and WEA Trust, a not-for-profit benefits provider for Wisconsin public school employees.

Whitehill also built on its strength in the legal vertical, winning contracts with four major legal clients: DLA Piper Marbury, one of the largest firms in the world with over 5,500 attorneys; Morrison & Foerster; Holland & Knight; and Schiff Hardin. “Our team was able to win these deals by working closely with leading industry partners such as Thomson Elite,” said McSpurren.

New business partnerships

In March, Whitehill became a member of the ImageRight Business Alliance. Designed especially for insurance companies, ImageRight is used throughout the industry to manage documents, workflow, and information.

“We’re happy to be working with Whitehill to help bring more value to our customers,” said Don Elias, co-founder and principal of ImageRight. “Whitehill’s cross-format functionality will help our joint customers process even obscure document types and manage multiple legacy formats.”

In May, Whitehill announced an OEM reseller agreement with CA Inc., offering Whitehill’s suite of document composition and data transformation software to CA customers under the CA brand name. In November, Whitehill achieved Advanced Partner status in the IBM strategic partner program. This prestigious partnership with one of the world’s largest companies gives Whitehill access to a unique set of partner benefits, such as technology certifications, joint solution planning, marketing, promotions and lead generation activities.

Acquisitions and product releases

In May, Whitehill acquired the technology assets of Metaserver, Inc., including a patented suite of business process integration (BPI) offerings. The Java-based platform is a proven technology in the insurance sector, where carriers and their agents use it to exchange quotes, claims and other critical business information in real time and at half the cost of traditional approaches.

Last month, Whitehill expanded its BPI technology into the legal market with the launch of Whitehill BPI for Legal. Other new product launches included Whitehill Layout Designer, an easy-to-use graphical interface for creating XML stylesheets.

Seven major awards and accolades

In March, prominent analyst firm Celent named Whitehill as a leader among insurance technology vendors. In a separate report, Celent identified Whitehill as one of 31 vendors offering the best sales experience in the insurance market. Strong vendors are those who demonstrate a deep understanding of the industry and the business problems their clients are facing, according to Matthew Josefowicz, Group Manager, Insurance, Celent. The best vendors give their customers “something to talk about by focusing on outstanding quality, support, and service for current customers—an experience so good that they look smart for choosing the solution in the first place.”

In May, Progress magazine named Whitehill the best software company to work for in Atlantic Canada, ranking it number 4 overall on its list of the best employers in the region.

That same month, Atlantic Business magazine named Whitehill’s president and CEO, Paul McSpurren, one of the top 50 CEOs in Atlantic Canada. And Whitehill received two prestigious export awards: the Canadian Manufacturers and Exporters’ “Export Achievement” award, and the New Brunswick Knowledge Industry Recognition Award for Exporting Services.

The company also ranked as the 20th largest privately owned software company in Canada on the Branham 300, a listing of the top 300 technology companies in the country, according to revenue.

14% employment growth

“Our success over the past year is a great tribute to the terrific team we have here at Whitehill,” said McSpurren. “Our policy of hiring only the best and the brightest employees continued this year, and it has certainly paid off.” Whitehill’s staffing grew by 14% in 2005, with the creation of 20 new full-time positions.

“This has been a tremendous year for us, and we plan to continue building on our record success all through 2006.”

About Whitehill Technologies Inc. (http://www.whitehilltech.com)

Whitehill Technologies, Inc. develops and implements document composition, business process integration, and data transformation software solutions that enable organizations to accelerate key business processes. Whitehill has helped over 600 customers in 45 countries personalize the way they communicate with customers and get the right information into the hands of the right people. Whitehill is a privately held company with over 100 employees. Headquartered in Moncton, New Brunswick, Canada, Whitehill has locations and partners in the United States, United Kingdom, and the Netherlands. Whitehill’s technology partners include Computer Associates, Thomson Elite, IBM and Interwoven. Whitehill is funded by private equity firms Latitude Partners and GrowthWorks Canadian Fund. Deloitte Touche Tohmatsu has recognized Whitehill two years in a row in its Fast 50 ranking of technology companies.

For further information or to arrange for interviews, please contact:

Lynne Reid

Media Relations Specialist

Whitehill Technologies

888-944-8344 x521

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