Webplan Selects New President, CEO

Taps former Spyglass Inc. CEO, Douglas Colbeth to lead provider into corporate performance management market

Ottawa Canada — June 11, 2003 — Webplan Corp., a provider of corporate performance management (CPM) software, today announced Douglas Colbeth has accepted the position of permanent president and CEO of Webplan Inc. The company said it selected the executive to lead it further into the CPM market.

The provider said Colbeth is best known for taking Champaign, Ill.-based Spyglass Inc., a start-up technology company, and moving it to a publicly traded company with software technologies deployed inside tens of millions of products.

Colbeth has been a member of Webplan's Board of Directors since January 2001, appointed chairman of the Board in November 2002, and has been acting CEO of Webplan since March 2003. Working closely with Webplan as an investor and board member over the past two years, Colbeth said he believes the company is set to deliver a technology that provides real-time corporate visibility, decision-making and planning capabilities to all knowledge workers.

In addition, Colbeth said the upcoming release of Webplan 7 would enable enterprise software vendors to deliver an Enterprise Productivity Platform that is integrated with Microsoft Office (or a browser). "Enterprises have held off purchasing expensive software solutions because they now demand a demonstrable return on investment from their current software investments. The Webplan product enables enterprises to use their previous software investments in mission critical applications and personal productivity tools," he explained.

He added that CPM does not have to be expensive to implement or difficult to use. "Enterprises can leverage existing enterprise applications/tools to make proactive business decisions based on comparing multiple future scenarios to manage current key performance indicators (i.e., inventory levels)," Colbeth said.