eProject Releases New Version of Project Management and Collaboration Software Suite

eProject Enterprise 4.0 Leverages Time Tracking, Document Approval and Additional New Features to Improve the Success of Business Projects

SEATTLE, WA, October 30, 2001 – eProject Inc., a global provider of project management and collaboration (PMC) solutions, today announces the latest release of its popular PMC software suite, eProject Enterprise™ 4.0. The new version offers expanded features and functionality that enable project teams worldwide to better plan, manage, and collaborate, improving the success of their projects.

"We’re really excited about the new features eProject Enterprise 4.0 is bringing to our project teams," said Leif Henecke, Director, EYT (formerly Ernst & Young Technologies). "These additions will streamline project collaboration and reporting processes while providing value to each project team member."

The more than 100 new features and improvements in this release are the result of consistent feedback from eProject’s customer base of more than 100,000 individuals and 200 organizations around the world. eProject Enterprise 4.0 leverages advanced project planning, management, and collaboration capabilities to deliver a strong return on investment to its customers. Key new features in the release include:

Time Tracking and Timesheets

Document Approval

Project Set-up Wizards

"With the launch of eProject Enterprise 4.0, we are expanding on our vision and ability to make our customers’ projects more successful," said Shane Jones, President and CEO of eProject, Inc. "The tremendous effort our team put into this release will result in a faster and greater return on investment for our customers."

The growing need for project management and collaboration software is validated by eProject’s rapidly growing customer base and by key industry analysts.

"Our revenue projections for distributed project management (DPM) in 2001 show good growth despite the economic slowdown," noted industry analyst David Coleman, Managing Director at Collaborative Strategies. "We have seen almost a 50 percent increase in revenues year over year, and expect to see a growth rate of 40 percent through 2004 to almost $3.2 billion. Collaboration within distributed project teams is one of the factors spurring this continued growth, and eProject is clearly right in the center of its market and should experience similar revenue growth with its release of eProject Enterprise 4.0."

eProject offers a variety of flexible deployment options to meet the unique needs of its broad worldwide customer base. Customers can install eProject Enterprise 4.0 as a traditional onsite application server, or choose to have eProject host the application providing a turnkey, immediate implementation. Hosted and subscription versions of eProject Enterprise 4.0 are available by visiting Traditional onsite versions will be available in late November 2001.

About eProject, Inc.

Founded July 1997 in Seattle, Washington, eProject, Inc. is a global provider of project management and collaboration solutions. eProject’s solutions help companies better plan, manage and collaborate on projects of all types and sizes. With centralized project planning and communication in a well-secured, web-based solution, project teams can access, update and share critical information 24/7 from any Internet connection worldwide via a desktop web browser and most popular wireless and handheld devices. Its products – eProject Express™ and eProject Enterprise™ - are used by more than 100,000 people and 200 organizations in 50+ countries worldwide, including numerous Global 2000 companies. eProject’s customers include, Accenture, Agile Software, Aon, EYT (formerly Ernst & Young Technologies), Honeywell, Immedient, NASD/AMEX, and Proctor & Gamble. For more information, visit the Company’s

website at

# # #

For more information, contact:

Cheryl Thompson

eProject, Inc.

(206) 239-7413