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Perseus Reports Rapid Adoption Of Enterprise Feedback Management Application - Posts Strong Year End Results

With Notable Industry Accolades, Perseus Achieves 5-Year Revenue Growth of 520% and Secures Momentum in Enterprise Markets

Braintree, MA, March 7, 2005 – Perseus Development Corporation, the global leader in web-based survey and Enterprise Feedback Management (EFM) solutions, today announced it has achieved strong year-to-date results for 2004, reflecting the growing adoption of its EFM application and the company’s focus and commitment to meeting the needs of its growing customer base.

2004 represented the Company’s third straight year of double digit profitability, achieving 5-year revenues growth of 520%. Fueling this growth, 1,900 customers adopted Perseus technology in 2004.

"The success of Perseus in 2004 demonstrate that we are at the forefront of evolving the Web survey market and that our Enterprise Feedback Management application is meeting the complex information needs of Fortune 500 organizations," said Rich Nadler, President of Perseus. "Perseus is poised for continued record growth in 2005, as we offer our customers the products they need to quickly and easily obtain, analyze and manage sophisticated enterprise feedback."

In 2004 Perseus secured new business from companies including Caterpillar, a technology leader and the world's largest maker of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Caterpillar, a 6 Sigma company, will be implementing Perseus SurveySolutions/EFM as its enterprise software application for feedback management. The Company also gained significant momentum in the government market, adding the US Naval Personnel Development Command (NPDC), the US Coast Guard and Sandia National Laboratories to its growing client roster.

"Obtaining feedback from employees and clients nationwide is critical to the success of our workforce and leadership development programs," said Eudoxia Jason, IT Specialist, Veterans Affairs, National HPDM Program Office. "We are pleased with our implementation of Perseus SurveySolutions/EFM because it has been key in capturing critical feedback while operationally minimizing deployment issues with survey developers and reporters in multiple facilities across the country. This sophisticated, high-performance application has provided easier scalability with results we can use to improve operations and provide greater efficiency."

In 2004, Perseus launched SurveySolutions/EFM, a powerful enterprise-wide web survey system that supports collaboration in survey design and reporting and a workflow process that provides a means for organizations to ensure consistent survey quality and enforce respondent privacy and IT security policies. With over $1 million in software licenses sold in the first few months of its release, SurveySolutions/EFM captured the attention of many Fortune 2000 companies. This new generation of enterprise feedback management is helping organizations obtain the feedback they need while ensuring compliance by giving them control throughout the entire survey process in a secure, shared environment.

"Enterprise Feedback Systems help reveal trends, patterns and outright new information that is valuable to improving customer service," said Esteban Kolsky, Research Director for Gartner. "Implementing a consistent practice of gathering and analyzing feedback enables organizations to provide better service and even improve it to the point of using customer service as a competitive differentiator – giving customers what they want."

Recognizing the expertise and market momentum of the Company, Perseus was named to the Inc. 500 for the second consecutive year and the Deloitte & Touche Fast 50 for the fourth consecutive year. Deloitte & Touche also named Perseus to its Fast 500 and Software Magazine recognized the Company among its Software 500.

In addition to relocating its U.S. headquarters to a larger space to accommodate the Company’s rapid growth, Perseus significantly grew its international presence, opening offices in Toronto, Singapore, U.K. and Malaysia. These offices will directly serve and provide strategic product support and service to international organizations implementing web-based feedback management systems and represents one of several steps being taken to expand the global presence of Perseus.

About Perseus
Perseus is leading the transition from web survey software to Enterprise Feedback Management (EFM) solutions that help organizations better understand their world. Organizations worldwide rely on Perseus solutions to better identify and meet employee, customer and partner needs, and increase profitability by creating loyal relationships. Perseus products enable business professionals to quickly and easily obtain, analyze, and manage sophisticated enterprise feedback using intuitive web-based software. Perseus SurveySolutions® is a recipient of PC Magazine's Editors' Choice award for web-survey software, and is used by over 22,000 customers worldwide including over twenty percent of the Fortune 100. Perseus is a 2003 and 2004 Inc. 500 company and Deloitte Technology Fast 500 company, and a four-time Deloitte Technology Fast 50 company. Visit for more information.


For more information, contact:

Brian Gendron
SHIFT Communications
Dwight Galler
Perseus Development Corporation
781.848.8100 x265