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ePlus Procure+ and Content+ Receive SAS 70 Type II Accreditation

(Jan 09, 2008)-- ePlus announced that it has successfully completed an unqualified SAS 70 Type II examination for its eProcurement and Content Management solutions. 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 April 1 to October 19 of this year.

The auditing firm tested nearly 100 specific controls to obtain evidence about ePlus' effectiveness in meeting the control objectives.

"An unqualified report is the highest outcome for a SAS 70 Type II audit," said Ken Farber, president of ePlus Systems. "We are pleased to be able to provide this report to our customers as evidence of the rigorous and highly disciplined process controls surrounding the development, testing and deployment of our hosted solutions."

The scope of the ePlus Type II examination included Procure+, the company's eProcurement solution providing catalog, bidding, ordering, inventory and invoice matching management for the entire purchasing
process, and Content+ and the Supplier Portal, which enables suppliers to upload and maintain their online catalogs.

We believe that ePlus customers may be able to use the ePlus Type II report to support their compliance with Sarbanes-Oxley regulations for those services outsourced to ePlus.

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