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Contact:

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

ELLISON-BACKED NETLEDGER DELIVERS WEB-BASED OUTSOURCED SOLUTION BASED ON ORACLE 8I TO SMALL BUSINESS

Web-based Application Gives Small Businesses Easy-to-use, Reliable and Secure Accounting, Anywhere, Anytime

Menlo Park, Calif,—August 9, 1999—NetLedger™, the premiere provider of Web-based applications for small business, today launched the Web’s first outsourced accounting application for companies of one to fifty employees. NetLedger’s application is the first in a series of integrated, cost-saving business applications the company is developing to address the needs of today’s small businesses. Based on the Oracle 8i® database, NetLedger delivers the reliability of an enterprise-level accounting solution combined with the ease of use of small business accounting packages. NetLedger starts at $4.95 per month and is accessible using only a Web browser.

NetLedger, headquartered in Menlo Park, California, is backed by Larry Ellison, Chairman of NetLedger and CEO of Oracle Corporation. Established in September 1998, NetLedger will become a leader in the outsourced small business application space with its first offering of online accounting available in late August. Future releases of business applications include e-stores that communicate directly with accounting software; customer relationship management tools; and online supply procurement. Future versions of NetLedger will be compatible with popular payroll services and will allow franchise integration with central offices running Oracle Financials®.

"Emerging Internet technology has created a new and currently untapped market — online accounting for small business," commented Evan Goldberg, president and CEO of NetLedger. "Our strategy is to establish and own this space by providing a series of integrated applications that offer a competitive advantage to small and growing companies in this Internet driven economy."

Today’s virtual, satellite and telecommuting offices with 24x7 workdays require Web-based business processes to conduct business efficiently and competitively. The NetLedger solution is specifically designed to address the demand of this new generation of small business.

About NetLedger Accounting
NetLedger’s revolutionary web-based platform enables small businesses and their accountants to enter transactions, view reports and maintain lists of customers and vendors. It includes full accounts receivable and accounts receivable tracking, as well as an intuitive user interface for easy set up and use. Accessible via any 4.0+ Web browser on the Internet, NetLedger will be available anywhere, anytime. It is designed to run effectively at connection speeds as low as 28.8K. Quickbooks® users can instantly convert their data to NetLedger. Checks and invoices are printed using free Adobe Acrobat® software running directly in the browser.

Reliability and Enterprise Power for Small Business

NetLedger brings the power of the industry-leading Oracle 8i database and an enterprise quality infrastructure at a competitive price to small businesses. The power, reliability and scalability of Oracle enables NetLedger to offer secure, multi-user, granular accessibility to company finances.

To manage the Internet delivery of the NetLedger solution, the company has chosen Oracle Business OnLine as its application hosting platform. Oracle Business OnLine offers NetLedger customers 24x7 application management with high bandwidth availability. Data security is ensured through the use of encryption over the network and robust firewall authentication.

"Business OnLine enables small businesses to achieve high levels of performance and security, utilizing the same technology infrastructure and expert staff used to manage the mission critical data of Fortune 500 companies," said Chris Russell, president, Oracle Business OnLine. The NetLedger - Business OnLine alliance levels the playing field for small businesses, providing them powerful applications to run their business, and with significant cost savings."

Price and Availability
NetLedger will be available late-August starting at a cost of $4.95 per month for 1000 transactions and 10 users. This includes free email-accessible service and support. Telephone support will be available at an additional cost.

For more information about NetSuite please visit our Web site at www.netsuite.com.

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