Aegis Software Uses Versata Logic Server to Build Trading Systems for Major Investment Banks and Brokerages

OAKLAND, CA. - July 8, 2003 - Aegis Software Inc., a New York based provider of software solutions to the financial services industry, today announced the use of Versata, Inc.'s (Nasdaq: VATA) products in their high-performance, Java-based "Aetrex" trading platform. Aetrex-based trading systems are already running at several leading banks and brokerages in the U.S.

Built using the Versata Logic Server, Aetrex provides features required by trading applications, such as real-time trade blotters, messaging and market data feeds. Aetrex also includes embedded support for the Financial Information eXchange (FIX) protocol, a messaging standard that supports the real-time electronic exchange of securities transactions (see www.fixprotocol.org for more information).

"Trading applications are complex transactional systems that are subject to a high rate of change," said Norm Friedman, vice president, Aegis Software. "Software updates must be made quickly and then placed right into production. By leveraging the power of Versata's business-rules capabilities, we can modify the application as required by traders and business analysts in a matter of hours, as opposed to days or weeks. And the reliability is outstanding, as we are not hand-coding several pages worth of changes. Versata's Logic Server is perfect for this type of environment."

"Aetrex is an excellent example of the value that business logic technology brings to the financial services industry," said Eugene Wong, CEO of Versata. "Traditional methods of application development, execution and management are becoming unsuitable in this era of rapid market change. We look forward to working with Aegis as they continue to provide competitive solutions for their clients."

About Aegis
Headquartered in New York, NY, Aegis Software has been addressing the trading, connectivity and quality assurance needs of the financial industry since 1994. Aegis' products include trading software for many different markets (equities, fixed income, foreign exchange and commodities), communications protocols to connect to the major stock exchanges and ECNs, as well as an extensive array of testing and QA solutions, including a 24x7 test facility accessible via the web, www.ExchangeSimulator.com. For more information about the company, please visit www.aegisoft.com.

About Versata
For IT shops who are struggling to reduce costs and whose developers are challenged with Java coding demands, Versata provides an application server extension that uses declarative business logic as a more productive way to do transaction processing and business process management. Much like a relational database manages business data, Versata manages business logic in the Versata Logic Server - at a higher level of abstraction, utilizing a server for execution and management. Unlike traditional hand-coding approaches, Versata enables developers to maximize their time by allowing them to focus on rules and processes of an application, rather than clerical details. Versata's declarative business logic approach enables IT to create and change applications faster, lower development and maintenance costs, and reduce application backlogs. Versata-built applications are constructed from an organization's core business rules and run in J2EE application servers like IBM WebSphere and BEA WebLogic.

Versata Global 2000 customers include American Management Systems, British Telecommunications, J.P. Morgan Chase & Co., Meridian Health Care Management and Union Bank of California. For more information, please visit www.versata.com or call (800) 984-7638.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. Forward-looking statements in this release include without limitation, statements regarding Versata and Aegis Software business relationship and the benefits obtained from the collaboration, and the benefits and the return on investment of using Versata's products. These statements are not guarantees of future performance and actual results could differ materially from company's current expectations. Factors that could cause or contribute to such differences include, but are not limited to: Aegis Software and Versata will be unable to continue a successful business relationship, the risk that customers will not perceive material benefits from these solutions, the solutions may fail to deliver the expected functionality, any unforeseen technical difficulties related to Versata's products, market acceptance of company's products or services, inability to continue to develop competitive new products and services on a timely basis, introduction of new products or services by major competitors, elimination of or lack of market interest in application server technology, and other risks detailed in the Company's Annual Report and periodic reports filed with the Securities and Exchange Commission. As a result, actual results may vary, perhaps materially, from those contained in the forward-looking statements. All forward looking statements included in this press release are based upon information available to the company as of the date hereof, and the company does not assume any obligation to update such statements or the reasons why actual results could differ materially from those projected in such statements