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ePlus inc.: ePlus Receives Second Consecutive SAS 70 Type II Accreditation for eProcurement and Content Management Solutions

^{Published on 2008-12-02 07:53:07 - Market Wire}
 

HERNDON, VA--(Marketwire - December 2, 2008) - ePlus inc. (NASDAQ: [ PLUS ]) announced that it has successfully completed its second consecutive unqualified SAS 70 Type II examination for its eProcurement and Content Management solutions provided by its wholly owned subsidiaries, ePlus Systems inc and ePlus Content Services, inc. The Type II report, which was issued by an independent CPA firm and is based on established accounting principles, demonstrates that control activities supporting the company's hosted applications are designed and operating effectively.

The SAS 70 Type II report provides an authoritative and independent assessment of a service provider's adherence to process controls in alignment with Sarbanes-Oxley requirements. The examination was performed in accordance with standards established by the American Institute of Certified Public Accountants and included those procedures considered necessary in the circumstances to obtain a reasonable basis for rendering an opinion.

The ePlus SAS 70 report, conducted by one of the nation's leading CPA firms specializing in SAS 70 services, found both the design and operating effectiveness of controls supporting ePlus' eProcurement and Content solutions provided "reasonable assurance" that the specified control objectives were achieved during the period from January 1, 2008 to September 30, 2008.

"We are very pleased for the second consecutive time to have achieved the highest outcome for a SAS 70 Type II audit," said Ken Farber, president of ePlus Systems. "Our clients will continue to benefit from the report for their own internal audit requirements as evidence of the rigorous and highly disciplined process controls surrounding the development, testing, and deployment of our hosted solutions."

ePlus customers may continue to use the ePlus Type II report to support their compliance with Sarbanes-Oxley regulations for those services outsourced to ePlus. Customers interested in receiving the report for their internal auditors may register to receive it at [ www.eplus.com/systems_sas70.htm ].

Procure+ is ePlus System's eProcurement solution that provides catalog, bidding, ordering, inventory, and invoice matching management for the entire purchasing process. Content+ and the Supplier Portal are ePlus Content Services solutions which enables suppliers and purchasing departments to upload and maintain their online catalogs. More information about Procure+ and ePlus supplier enablement solutions can be found, respectively, at [ www.eplus.com/eprocurement.htm ] and [ www.eplus.com/supplier_enablement.htm ].

Additional information about SAS 70 can be found at [ www.sas70.com/about.htm ].

About ePlus Systems inc.

ePlus Systems inc., a wholly owned subsidiary of ePlus inc., develops and markets advanced software applications and services to meet the needs of spend management and product content management for customers across all industries. The combination of software and services gives customers the choices and tools to optimize their spend, including supplier enablement, catalog content management, eProcurement, spend analytics, document management, and asset management.

About ePlus inc.

ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 650 associates in 30+ locations serving more than 2,500 customers. The Company is headquartered in Herndon, VA. For more information, visit [ http://www.eplus.com ], call 888-482-1122, or email [ info@eplus.com ].

ePlus®, Procure+®, Content+® Supplier Portal, and other ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners.

Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; the existence of demand for, and acceptance of, our services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; the possibility that the SAS 70 report may not be accepted as sufficient evidence of Sarbanes-Oxley compliance by our customers' auditors or regulators, or suitability for that purpose; our ability to protect our intellectual property; our ability to consummate and integrate acquisitions; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to reserve adequately for credit losses; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this release is as of the date of this release. ePlus undertakes no duty to update this information.