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Contact:

Mei Li
Senior VP
Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

NETLEDGER EXPANDS WORK FORCE BY 80% AND ADDS FOUR NEW SALES LOCATIONS

 

SAN MATEO, CA, March 27, 2003—NetLedger, Inc., makers of Oracle® Small Business Suite, today announced it has expanded its workforce by 80 percent since a year ago and opened four new sales locations to accommodate growing demand for its product offerings including NetCRMT, NetSuiteT, and Oracle Small Business Suite. The Oracle Small Business Suite name is used under license from Oracle Corporation (NASDAQ: ORCL).

Despite a sluggish economic environment, NetLedger has seen five-fold growth in revenues over the past six months. To meet the demand for the company's product offerings, positions have been created in all areas of the company, with a focus on the direct and channel sales. As part of the expansion, four new sales locations have been opened in New York, Seattle, South Carolina, and Chicago.

"We are growing our team to meet the increasing demand for our products," said Zach Nelson, president and CEO of NetLedger. "When I look at all the reasons why this company is succeeding - the cost savings offered by our Web-based model, the broad functionality of our products, and the short implementation time - it is no surprise that we are bucking the trend during this down economy."

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