Rivet Software Delivers Breakthrough XBRL Financial Reporting Product

Dragon Tag(TM) XBRL Enabler Empowers Customers such as Microsoft and Ernst & Young to Embrace the XBRL Global Reporting Standard

DENVER, Feb. 14 /PRNewswire/ -- Rivet Software, an innovator in Financial Integrity Management solutions, today announced the upcoming general availability of its first product, Dragon Tag(TM) XBRL (Extensible Business Reporting Language) enabler. Dragon Tag is the first easy to use Microsoft Office(R)-based solution that removes the complexity of converting financial statements to industry-standard XBRL. Industry leading firms such as Microsoft and Ernst & Young and are among Dragon Tag's early customers and enthusiasts.

Support of the XBRL global standard continues to grow dramatically as governments, regulators and entities around the world recognize the need to improve existing financial reporting. However, until today, XBRL reporting has been expensive, time consuming and difficult. By leveraging Microsoft Office, the de facto standard productivity suite, Rivet's Dragon Tag provides accounting and finance professionals with the first user-friendly application to both extend XBRL taxonomies and create XBRL documents based on existing Microsoft Word(R) and Microsoft Excel(R) documents.

"In this post-Sarbanes Oxley climate, businesses must make their financial information transparent to key stake holders. XBRL is quickly becoming the global standard for business reporting, a key step to this transparency," stated Rob Blake, Vice President, Product Marketing at Rivet Software. "With the launch of Dragon Tag, Rivet has revolutionized the financial reporting industry by breaking down the barriers of XBRL reporting, delivering a new level of ease and affordability."

Dragon Tag provides the following benefits to help organizations lower adoption hurdles related to XBRL:

• Support for the latest XBRL Specification (2.1) and XBRL taxonomies such as U.S. GAAP (generally accepted accounting principles) and IFRS (international financial reporting standards)
  
  
• "Drag and tag" simplicity allows users to quickly associate XBRL information to existing financial data via drag and drop capabilities
  
  
• Comprehensive review and validation features to help ensure accuracy prior to releasing or submitting XBRL documents
  
  
• Easy to use "wizard" process that walks users through extending an already-existing XBRL taxonomy to meet specific reporting needs
  
  
• Compliance with voluntary and mandated XBRL reporting requirements encountered by companies involved with XBRL regulatory filing initiatives such as the US SEC's XBRL Voluntary Financial Reporting Program (begins March 16, 2005).

Early Users Realize Benefits

Financial professionals worldwide are facing increased demands, scrutiny and workloads related to new compliance requirements and technologies. Rivet's focus on Financial Integrity Management encompasses solutions that enable financial professionals to bridge the growing gap between market place demands and lack of available applications. Microsoft and Ernst & Young are among the first Dragon Tag customers currently leveraging the solution for simplified XBRL reporting.

Microsoft has been an active member and supporter of XBRL since 1999 and was the first technology company to release their financial statements in the XBRL standard in 2002. Last week, Microsoft created its quarterly earnings release for the period ending December 31, 2004, in XBRL 2.1 format, leveraging the Dragon Tag solution. "With this user-friendly application, we were able to create and release our XBRL-compliant financial report with little disruption to the normal reporting cycle," said Michael Ohata, Director of Business Reporting for Microsoft. "Dragon Tag provides integration with Microsoft Office 2003 so we were able to work directly in Word and Excel, which addresses a key scenario for how finance professionals work."

Ernst & Young has helped drive adoption of XBRL by spearheading both XBRL taxonomy and document development, making Rivet's Dragon Tag a natural fit. Ernst & Young has licensed more than 100 copies of Dragon Tag as part of their efforts to help clients who choose to participate in the forthcoming SEC (Securities and Exchange Commission) Voluntary Filing Program, a program that allows public companies to submit XBRL financial information into the SEC EDGAR system.

Product Availability

Rivet has recently announced strategic partnerships with PR Newswire and EDGAR® Online® (Nasdaq: EDGR - News) to help drive adoption and usage of Dragon Tag within the finance and accounting community. Rivet's partnership with PR Newswire ensures that investor relations professionals can create and submit XBRL information for global distribution. The partnership with EDGAR Online provides XBRL tagging capability to its clients, including financial, corporate and advisory professionals.

Dragon Tag will be available for purchase and download from the Rivet Software website (www.rivetsoftware.com) on February 21, 2005. Pricing is $299/euro 259/pounds Sterling 179 per client license (comes with a 30-day free trial), with volume, site license and academic discounts available directly through Rivet.

About Rivet Software

Rivet Software is an innovator in developing effective and easy-to-use Financial Integrity Management applications. Based in Denver, Colorado, USA, Rivet Software is focused on addressing new worldwide technology requirements for the business reporting and accounting community. All Rivet Software products adhere to the emerging XBRL global reporting standards and work with the de facto standard desktop software, Microsoft Excel and Word. The company's management team includes industry veterans, founding members of the XBRL community and past advisors to the American Institute of Certified Public Accountants (AICPA). For additional information, please visit www.rivetsoftware.com.

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