BUSINESS-TO-BUSINESS INCUBATOR AND ACCELERATOR, WINGSPRING, PARTNERS WITH ACTIONBASE, PROVIDER OF WEB-BASED SERVICES AND SOFTWARE

ActionBase Introduces "Zero Administration" Conferencing Software — Tracking, Updating and Monitoring Meetings Goes Virtual

PLEASANTON, CA (July 12, 2000) — Wingspring, a new business-oriented incubator driven by the goal of dramatically accelerating time to market and significantly increasing market success of the companies it incubates, today announced its support of ActionBase™, a new addition to the Wingspring portfolio. ActionBase, a spin-off from the Israeli company Eyron Group, is a provider of web-based software infrastructure and services for business-to-business communication and collaboration.

"The addition of ActionBase to Wingspring's portfolio is the exciting result of our international outreach strategy, where we provide business incubation services to international companies seeking to launch their operations in the United States," said Avrami Tzur, General Partner and Co-founder of Wingspring. "ActionBase is a perfect fit with Wingspring — a natural extension of our business model and interests. The biggest benefit of this platform is its ability to elevate productivity, and streamline the management tasks and work flow associated with daily business operations."

A "virtual" conferencing system, ActionBase enables corporate users to track, create, update and monitor action items, decisions and meeting minutes. Initially, users can designate one person in a meeting to capture and input information, or individual people can assign tasks. ActionBase takes over, sending e-mail alerts to participants, with links to access their information and tasks online.

Users access the management system through a Web browser. There is no installation, as the server is hosted by ActionBase. The system provides the infrastructure and Web services to support direct users of ActionBase, in addition to anyone else users designate to include.

"E-communication is at the core of every business in today's era, and business users around the world are extensively using e-communication systems, such as e-mail, to send and receive information," said Tzur. "ActionBase software directly solves a need that current e-mail systems don't address; specifically, current systems don't have the ability to efficiently track, coordinate and follow-up on fundamental business meetings and transactions, nor can traditional systems transfer ownership of projects to different people. ActionBase has taken an existing communication system and significantly enhanced its user applications and relevance for business professionals."

Wingspring will provide its full gamut of "business incubation services" to ActionBase — working with the company to launch its marketing, sales and business development operations in the United States. Wingspring staff will work with ActionBase to develop business strategy and positioning, recruit executives, and identify potential customers and strategic partners. Wingspring will also provide ActionBase with $1 million in funding as part of the second closing of the first funding round.

About ActionBase

ActionBase launched in Israel in the first quarter of 1999 under the Eyron Group umbrella. The company currently has 30 medium-to-large organizations in its customer base, comprising approximately 15,000 business users. ActionBase customers are Fortune 500 companies and business-to-business marketplaces. The foundation of ActionBase is intricate software infrastructure, essentially allowing companies to communicate and collaborate in convenient, user-friendly ways, while also maintaining structured exchanges.

About Wingspring

Wingspring is a Palo Alto-based "springboard" for new business-to-business Internet ventures. Founded in January 2000 by five Silicon Valley entrepreneurs, Wingspring combines early stage investment with in-depth experience to accelerate business development and market success. Wingspring's team of Internet and e-commerce professionals offer support in all areas of business development, helping entrepreneurs develop a sustainable business model; create a powerful financial plan; develop scalable technology; create a strategic marketing program; recruit top talent; and, in general, optimize all opportunities facing a start-up business. Wingspring's state-of-the-art Incubator and Technology Center is located in Pleasanton, Calif.

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