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New XL2Web Software Transforms Excel Models into Web Applications for Easy, Secure, Version-Controlled Distribution to Multiple Users

No Programming Required, Reducing Costs for Financial Services & Other Excel Users

NEW YORK, NY (June 29, 2004) --- 2Web Technologies today announced the release of XL2Web, a new software tool that converts Microsoft Excel spreadsheets and models into interactive Web applications and Web services in minutes without the need for programming. The product offers a fast, secure, version-controlled means of Web-enabling and distributing interactive spreadsheet models for financial analysts, researchers, risk managers, market makers, financial planners, insurance agents, and others involved in complex analytics.

Potential applications include development of interactive trading models, financial statements, securities and derivatives pricers, and personalized client portfolio tools enabling end users to investigate various "what-if" scenarios. The software can also be used to permit fast development of online calculators and other interactive Web content using Excel as the authoring tool.

XL2 Web consists of two components: XL2Web Publisher, an Excel plug-in that enables spreadsheet authors to quickly define the publishable areas of a given Excel file and then converts and automatically uploads the model to a server; and XL2Web JEngine, a Java Servlet that presents the published model to end users in their browser or makes the model accessible as a SOAP-compatible Web service that can be easily integrated into any application.

The XL2Web platform supports complex, multi-page Web applications with virtually all Excel functions including multiple worksheets and workbooks, charts, images, cell formatting, data tables, data validation, GoalSeeks, and support for proprietary and third-party function libraries. End users can access any XL2Web-enabled model from a Web browser without browser plug-ins or the need to install Excel, making it usable remotely or with Blackberrys and other specialized computing devices.

XL2Web's ability to rapidly convert spreadsheet assets into Web-based applications and Web services without IT programming eliminates the costs and duplication of effort involved in recoding a spreadsheet for Web use. The software also overcomes the limitations of the Excel platform by enabling:

Easy spreadsheet distribution, allowing models and updates to be disseminated to any number of clients or other end users via URL instead of emailing the files or publishing them in flat form.

Protection of intellectual property, because financial formulas and other proprietary information that can be easily accessed in the raw Excel file remain locked behind the firewall when XL2Web is used.

Version control, preventing end users from using an old version of a given model because deployment is now centrally controlled and server-based.

Scalability for highly complex calculations and scenario analyses, freeing spreadsheets from the desktop for use in more powerful server environments such as Linux and Unix to permit parallel processing for faster loading and computation, batch operation for regression analysis, and so on.

Integration with existing Web pages or enterprise applications such as analytics libraries, business data and ERP applications, without recoding.

"Until now, converting a spreadsheet to a Web-based application required days or even weeks of programming, and every change in the model required recoding by the programmer. This was not only expensive but also prevented the timely release of new or time-sensitive models," said Jonathan Rochelle, CEO of 2Web Technologies. "XL2Web makes the conversion process almost instantaneous, equips spreadsheet authors with Web delivery and Web services development skills that eliminate the need for programming, and transforms Excel into a true enterprise-class development tool."

Pricing and Availability XL2Web is available under a licensed model for large organizations that require deep integration with proprietary software, and in two hosted models for firms with basic and more advanced needs. Hosted pricing begins at $100 per month. Corporate license pricing is based on the number of XL2Web publishers and XL2Web JEngines deployed.

About 2Web Technologies 2Web Technologies develops software that facilitates advanced quantitative analysis. The company is a spin-off of ITK Solutions, an IT management consulting firm with offices in New York and London. For more information, visit www.itksoftware.com.