Rotterdam, The Netherlands, August 5, 2008 - On-demand software service provider TBlox, has successfully completed a SAS 70 Type I examination, conducted by independent auditing firm Ernst & Young.

Statement on Auditing Standards (SAS) No. 70, Service Organizations, is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A service auditor's examination performed in accordance with SAS No. 70 ("SAS 70 Audit") is widely recognized, because it represents that a service organization has been through an in-depth audit of their control objectives and control activities, which often include controls over information technology and related processes. In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when they host or process data belonging to their customers. In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SAS 70 audit reports even more important to the process of reporting on the effectiveness of internal control over financial reporting. For more information, reference is made to www.sas70.com.

Jeroen Volk, Operational Director of TBlox commented on the achievement, "We are proud to show our continued commitment to a high level of quality services offered to our new and existing customers by having successfully completed our SAS 70 Type I report. As anyone who has gone through this auditing process knows, it takes the dedication and commitment of the entire organization to come through this process with the auditor's statement of "No Exceptions Found". As always our focus is on providing TBlox customers with the finest level of products and services they can find in an on-demand software provider."

Company Overview

TBlox began operations in January 2005 to provide on-demand software services for small to medium sized businesses. Today, TBlox provides on-demand software services to over 1000 companies including a number of Fortune 500 companies. The majority of TBlox clients are located in Europe, with an increasing number of clients in the North America.

Business Segmentation

TBlox is internally organized into business units or "segments." There are currently three segments, White Label Mass Distribution, Small to Medium Business and Stage-4 Corporate Organizations.

The scope of the audit includes a selection of TBlox software modules covering the procurement process (the "Application"). The Application is hosted at HostMySite.com, a SAS70 accredited third party hosting and data center. The server infrastructure is based on a minimum base setup that can easily be expanded when additional server capacity is required. The minimum base setup ensures that all hardware is hot-swappable and no single point of failure is available.

Stage-4 Services

TBlox services a broad range of customers with diverse software needs and requirements. These customers are using the stage-4 version of the software and supported by TBlox support personnel. The stage-4 version service offering is engineered for businesses that need both high availability, performance, and an application environment with only a limited number of updates on a yearly basis, and supported by an application platform Service Level Agreement (SLA).

TBlox' Stage-4 service offering goes beyond traditional managed on-demand service provided, by providing a high service level for companies running mission-critical applications. The Stage-4 service offering is covered by the SAS70 accreditation.

Services to Clients

TBlox' on-demand software services target mid to large-market companies in need of critical business application management available via the internet, as well as high availability client requirements. TBlox provides on-demand business software services, where all clients use one of the 4 available standard versions of the same software. Client elect to receive updates in accordance with the Staging Policy. The available stages are: Stage-1. when available, Stage-2 (every 2 months, with a delay of at least 2 months), Stage-3 (every 4 months, with a delay of at least 4 months) and Stage-4 (every 6 months, with a delay of at least 6 months). The services are provided at a predictable cost and clients pay for the services using self-billing.

About TBlox

TBlox offers a web platform for both running the business and a methodology to be embedded in the daily life of your business partners, employees and or clients. TBlox has a world-wide partner network for distribution, marketing, sales and services. TBlox software is also offered under private labels of partners.

TBlox offers over 30 online modules like Purchase, Time, Expense, Project Management, Documents, HRM modules, enabling clients to create their own Best-of-Breed online ERP-system. The TBlox-Connected Program allows third parties to offer their software or services as add-on on the TBlox-Saas Platform.

Any SME company with an internet browser and basic knowledge of the application is able to use TBlox on-demand software. Large organization can optimize their ERP environment, without complex implementation processes. The software is developed in close communication with the users and includes industry specific features, like lot numbers, track and trace, UOM, expiry dates, barcode scanning and stock management.

Clients do not buy licenses to own the software and do not pay maintenance fees. It is also not needed to invest in hardware. Clients select a plan and pay either per user or transaction or on a monthly subscription basis.

The third party hosting and data center (HostMySite.com) provides the hardware, the datacenter environment and delivers the server hardware infrastructure to TBlox. The HostMySite.com offering is performed under the HostMySite Type II SAS70, which is included in the SLA between TBlox and HostMySite.com. For the purpose of this report, the activities and controls performed by HostMySite are excluded. It is the intention to include the HostMySite.com Type II SAS70 at December 31, 2008. At this date both HostMySite.com and TBlox intend to provide a Type II SAS70 report.