The iPhrase search interface dramatically enhances the functionality of these leading sources of critical business information by allowing users to post business questions in natural language and obtain answers in a format that can easily be integrated into their decision making and planning processes.

LexisNexis Advertising Red Books directories (www.redbooks.com) have served as the most critical resource for the advertising industry for over 85 years, providing competitive intelligence and prospecting data to media companies, advertising agencies, manufacturers, advertising service and suppliers, libraries and many more. The Red Books database contains detailed profiles of nearly 14,000 U.S. and international advertising agencies, including accounts represented by each agency, fields of specialization, breakdown of gross billings by media, contact information on agency personnel and much more. More than 15,000 advertisers who spend at least $200,000 a year on advertising are also profiled. The Directory of Corporate Affiliations (DCA www.corporateaffiliations.com) has been the single most trusted guide to corporate families in the U.S. and worldwide for 30 years, providing corporate linkage information on more than 150,000 of the most prominent parent companies and their affiliates, subsidiaries and divisions.

The iPhrase natural language search and navigation technology allows people to ask questions in everyday conversational language, as though speaking with another person, rather than filling out a form with specific fields or picking from drop down menus. Users pose the exact question they are looking to answer, and the system interprets it and finds the precise results. For example, a user of Advertising Red Books might ask, "What are all the agencies that represent Ford?" or "Who spends more than $100 million in print-based advertising?" The iPhrase solution queries all relevant databases, collects the most appropriate answers and presents them back to the user in real time, eliminating the need to sift through multiple or irrelevant results.

"Business executives are looking for ways to accelerate informed decisions and increase productivity," said Bill Pardue, president and CEO of Corporate and Federal Markets, LexisNexis. "The integration of the iPhrase software into these directories enables business professionals to immediately and seamlessly access the business intelligence they need."

"LexisNexis' adoption of iPhrase's One Step solution into these popular offerings will ensure that requests for information will be quickly answered with accurate results, right when they're needed," said Noam Ben-Ozer, co-founder and CEO of iPhrase Technologies. "Their choice of iPhrase One Step as their natural language search and navigation solution is a tremendous validation of the value our technology brings."

LexisNexis parent company, Reed Elsevier, led iPhrase's recent $25 million Series B financing round last July. The deal announced today is the first of what the companies expect to be a broader collaboration that marries iPhrase's innovative search technology with Reed Elsevier's wide range of market-leading, customer facing information services.

iPhrase and LexisNexis will demonstrate the solution at Booth # 513 at the KM World 2001 Conference and Exposition being held here today through Thursday. General availability of the solution within these two subscription services is planned for the first quarter of 2002.

About LexisNexis

LexisNexis Group is a leading global provider of information to legal, corporate, government and academic markets, and publishes legal, tax, regulatory and other business information. Operating units include authoritative legal publishers such as Martindale-Hubbell, Matthew Bender, the Butterworths companies in Europe, Asia-Pacific, North America and Africa, Les Editions du Juris-Classeur in France; Abeledo-Perrot in Argentina; Orac in Austria and other leading companies around the world, all members of Reed Elsevier plc. The LexisNexis services combine searchable access to over three billion documents from thousands of sources with leading edge systems and tools for managing this content. LexisNexis delivers a high quality resource with which to build legal research and knowledge-management solutions for the entire enterprise, answering questions and solving problems. For more information, please visit www.lexisnexis.com.

About iPhrase

iPhrase's patent-pending One Step platform provides organizations with the premier natural language search and navigation solution allowing for easy, intuitive access to complex and dynamic content. Through robust language understanding and multi-source information retrieval and result presentation technologies, iPhrase provides a superior user experience by delivering precise results in one step. The iPhrase One Step platform is a highly scalable, enterprise-class solution that provides the interface to allow organizations to fully leverage their information assets, reduce customer support costs and increase productivity.

iPhrase was founded by business leaders who came together with former MIT researchers to address the growing "information access crisis" facing users, who are finding it increasingly difficult to access information efficiently and intuitively. iPhrase's investors include Charles River Ventures, Greylock, Reed Elsevier Ventures, RSA Ventures, Sequoia Capital, TD Capital Technology Ventures and Bain Capital. iPhrase has offices in Cambridge, MA and San Mateo, CA. For more information, please visit www.iphrase.com or call (617) 621-7844.