Honolulu, HI 01/13/03 – Inovaware Corporation, a leading provider of billing and customer management software for the next-generation Internet services and telecommunication industry, today announced a summary of operational results from 2002.

"We are pleased to announce that the company has surpassed revenue goals for the year despite the sluggish telecommunications market environment," stated Marc Rapoza, CFO at Inovaware. "We have been very active with new customers in North America and Europe, and solidified relationships with current customers who have upgraded. The strong momentum we have built in recent months is continuing into the new year as we have already signed two significant deals. In this though economic environment, Inovaware's message of operating expense reduction and increased profit margins has resonated well with customers."

In the last quarter of 2002, Inovaware also raised a first round of funding to be used to accelerate sales, marketing and development activities. "We have been growing rapidly since 1996 without requiring outside capital to fund growth, unlike a lot of now defunct companies of the dotcom era," continued Marc Rapoza. "We run a profitable business, and the fact that we succeeded in attracting funding given the present capital market conditions is a vote of confidence for the future of the company."

Asia has also been a bright spot for Inovaware. Shiego Kaizu, VP Asia-Pacific at Inovaware, is bullish on the company's results in Asia. "Inovaware continues to develop strong ties to the telecommunications industry in Japan and the rest of Asia. We have won major deals last year, including a recent contract in Vietnam, and the efforts we have put in developing our Asian presence will continue to pay off this year."

Inovaware has nurtured close ties with leading palyers in Asia such as Microsoft and HP, as well as with a slew of local resellers/integrators including SSE, Toshiba Engineering, OTC, SYSCOM and AstraGraphia IT.

About Inovaware
Inovaware Corporation is a leading business systems provider for the Internet industry. With over 300 clients worldwide, Inovaware provides advanced billing and customer management software to ISPs, ASPs, broadband services, content providers and other next generation service providers. Inovaware's Synchronized Business Infrastructure is the only framework that integrates separate customer-centric operations such as billing, customer management and helpdesk processes into one centralized system –lowering overall cost and time-to-implementation. More information about Inovaware and its products can be found at the company's Web site www.inovaware.com.