Leading Corporate Governance Software Firm Appoints Top Executive, Promotes Another To Meet Expansion Demands

Orlando, Fla. --- Axena, Inc., a University of Central Florida Technology Incubator company and provider of corporate governance software and services, recently appointed Bruce Carpenter director of Strategic Business Development and promoted Natalia Warren to director of Product Development and Marketing.

Frank Hailstones, founder and chief executive officer at Axena, said Carpenter, who has more than 30 years of experience in technology and financial services, will be responsible for developing and executing Axena’s business development strategies.

Carpenter is the former director and senior vice president for Strategic Business Development at Fiserv CBS Worldwide where he was was instrumental in Fiserv CBS’s aggressive merger and acquisition strategies and worked closely with such organizations as Citigroup, ABN Amro and Prudential. Carpenter earned his B.A. degree from Lafayette College and has an MBA from Columbia University.

Hailstones said Warren, who served as product manager for Axena SOAX™, Axena’s flagship software product for Sarbanes-Oxley 404 compliance, will oversee development of Axena’s software products and commercialization of service offerings such as Axena’s Sarbanes-Oxley Program Evaluation for publicly listed small cap companies. Warren will also be in charge of promoting the powerful Axena brand to all of its worldwide markets.

Before joining Axena, Warren was a product manager at Adaptec, where she spearheaded development of Adaptec Storage Manager, Adaptec’s RAID and enclosure management software, and the award-winning Adaptec File Saver.

Warren earned her BA degree from the State University of New York (SUNY) at Buffalo and received her MBA from Crummer Graduate School of Business at Rollins College.

Hailstones said the executive appointments were part of an aggressive growth strategy Axena launched this year. The firm recently formed an exclusive partnership with Mirabilis Ventures, Inc., a $500 million private equity fund, to brand and market software systems for Professional Employer Organizations (PEOs) and insurance and financial institutions.

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For more information, please contact:

Natalia Warren, Axena, Inc. 407-447-0050, ext. 213

Tom O’Neal or Carol Ann Dykes, UCF-Technology Incubator, 407-882-0202

Larry Vershel, Larry Vershel Communications, 407-644-4142

About Axena™ Inc.

Axena, Inc. provides Corporate Governance and Enterprise Risk Management solutions to both the US and international markets. Operating through its US headquarters in Orlando, FL and its international headquarters in the UK Axena provides industry leading compliance, enterprise risk management and corporate governance software and advisory services. (www.axena.com)

About the UCF Technology Incubator

Since its founding in 1999, the UCF Technology Incubator has helped more than 80 emerging technology companies create over $175 million in revenue and more than 600 new jobs with an average salary of $59,000. As a result of this success, the UCF Technology Incubator was recently named the 2004 Technology Incubator of the Year by the National Business Incubation Association. Headquartered in Research Park near the University, the Incubator is a true collaboration in economic development between UCF, Orange County, the City of Orlando the Florida High Tech Corridor Council and the Metro Orlando Economic Development Commission. For more information, please visit http://www.incubator.ucf.edu

www.ucf.edu