VATA Versata (MM)

Versata(R), Inc. (Nasdaq:VATA), a leading independent provider of rapid application development platforms to automate and manage complex, data-intensive business systems, today announced the appointment of David Chamberlain to the post of president and CEO, effective June 15. Chamberlain is a seasoned industry executive who has built and managed multi-billion dollar global business sales and services organizations. Most recently, Chamberlain was a private investor and advisor for local start-up technology companies. Prior to that, he was president and CEO of WebPutty, Inc. a software company focused on providing service-oriented architecture (SOA) platforms and solutions-to-enterprise accounts. There Chamberlain standardized the product architecture around industry standards and quadrupled sales in 18 months. Earlier in his career, Chamberlain also served in pivotal management positions at IBM Corporation, Gateway Corporation and Novell Corporation, helping in each case to fuel growth and expand market leadership. During his 15-year tenure at IBM, Chamberlain oversaw the expansion of the west coast professional services organization and served as manager of IBM's largest branch office. He led teams in selling the IBM AS/400 and the personal computer division's channel partner program. Chamberlain's other successes include a stop at Gateway, where he built an enterprise-focused counterpart to the consumer sales team. His efforts helped grow division revenue from $800 million to more than $2.1 billion over 22 months. After that, Chamberlain was at Novell where he helped shift the focus from product-based selling to solution selling. He was responsible for Novell sales and operations in the eastern U.S. and for the federal government. Net profitability rose 20% under Chamberlain's guidance. "It is my great pleasure to announce that Dave Chamberlain, a proven business leader and executive manager, will become Versata's president and CEO," said Gary Morgenthaler, chairman of Versata. "The company has reached an important turning point. With Dave on board, and Versata 6(TM) in the market place, we have the team and products in place to achieve long-term growth and sustainable market leadership." Morgenthaler continued: "I also want to thank Will Frederick for stepping up to handle the CEO role during this transition period. He is a critical member of the management team, and it will serve Versata well to have him back handling financial strategy as our full-time CFO. All of us on the board will work closely with him and Dave to address the financial constraints facing the company." "I'm honored and excited to be named president and CEO of Versata," said Chamberlain. "Versata has all the critical elements -- great technology, dedicated employees and a strong customer base -- to succeed and grow its business. I plan to build on Versata's past success of helping customers use business rules to reduce the time and costs to deploy mission critical applications, and to deliver IT systems that can be easily modified to suit changing business and regulatory demands. I am looking forward to the opportunity to lead Versata through its next growth phase." About Versata Versata provides solutions for automating and simplifying the building, maintenance and ongoing evolution of large, complex, data-intensive enterprise applications. The Versata solution effectively and efficiently replaces time intensive hand-coding efforts with simple, intuitive business rules and graphical process flow specification. Versata Global 2000 customers include Bank of America, B. T., Cendant, CGI-AMS, JPMorgan Chase & Co., Meridian Health Care Management, Merrill Lynch, and Union Bank of California. For more information, please visit http://www.versata.com. Versata and Versata 6 are registered trademarks or trademarks of Versata, Inc. in the United States and other countries. Other brands or products appearing are trademarks of their respective holder(s). This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. Forward-looking statements in this release include without limitation, statements regarding, Versata's opportunity to achieve long-term growth, sustain market leadership, and develop its business worldwide. These statements are not guarantees of future performance and actual results could differ materially from company's current expectations. Factors that could cause or contribute to such differences include, but are not limited to: inability to achieve market acceptance, inability to grow successfully, inability to retain key employees, declining revenue and other risks detailed in the Company's registration statement and periodic reports filed with the Securities and Exchange Commission. As a result, actual results may vary, perhaps materially, from those contained in the forward-looking statements. All forward-looking statements included in this press release are based upon information available to the company as of the date hereof, and the company does not assume any obligation to update such statements or the reasons why actual results could differ materially from those projected in such statements.