Haworth, NJ, May 29, 2001 – Tax Technologies, a leading provider of Internet/Intranet-based tax technology solutions, today announced that IBM e-business Hosting is hosting the suite of tax compliance applications offered by Tax Technologies – e8865, e1065, e5471, and e8873. With this hosted offering, the software is available for use anywhere, anytime through a connected Internet browser. Full functionality is available online effective immediately and customers of all sizes can benefit from the offering.

"Tax Technologies is revolutionizing the corporate tax software industry. It is now possible for our clients to use our products within hours of making a purchasing decision," says JD Choi, Chief Executive Officer of Tax Technologies. "In addition, the total costs of using the application are greatly reduced as the need for servers, backups, updates, and other procedures are aggregated into the hosted solution."

Application hosting or outsourcing the hosting of specialized vertical applications is becoming increasingly accepted. IT departments are seeking ways to increase their emphasis on strategic enterprise-wide applications; as such, some are eager to support application-hosting opportunities for applications that reach a small subset of the enterprise. With their limited reach, corporate tax applications are a logical candidate for outsourcing.

When you are dealing with highly sensitive financial and tax data, it is important that the hosting provider understands security. Tax Technologies understands the importance of security to its clients and selected IBM after a careful review process. "IBM is clearly a market leader that takes security very seriously. Their experience hosting other financial systems, managing firewalls, and instilling rigid facility procedures was influential in our decision making process," says Jeff Wenger, Chief Technology Officer of Tax Technologies. "IBM e-business Hosting provides us with a secure, high-speed infrastructure and is the most credible service we could find."

About Tax Technologies

Tax Technologies, Inc. is a technology-driven tax services company and leading provider of Internet/Intranet-based tax software. With a variety of Fortune 500 clients using its suite of web-native tax software products (TaxSeries) and audit products (AuditTracker), Tax Technologies assists with the preparation of tax returns, the improvement of tax process, implementation of tax software, and the development of custom applications to meet client’s tax and financial reporting demands.

The company’s headquarters are in Haworth, New Jersey, with the technology headquarters in Bradenton, Florida. Further company information is available at www.taxtechnologies.com.