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Asylum Telecom Chooses Quantrix Financial Modeling Software to Develop Robust Business Model

Tuesday, April 26, 2005

PORTLAND, Maine (Business Wire) -- Quantrix software helps Asylum Telecom develop financial model to aid in securing second round of venture capital funding

Quantrix today announced that Asylum Telecom LLC has chosen Quantrix Modeler financial modeling software to develop its business financial model. Quantrix Modeler is a desktop quantitative modeling software application that goes beyond traditional spreadsheet technology to enable professionals to model business and financial questions in greater depth and from multiple perspectives while improving productivity, accuracy, and auditability.

Asylum Telecom is a global provider of turnkey Internet-based communication solutions. Its original financial model was developed using traditional spreadsheet software, and the company discovered that it was complex, prone to errors, and did not offer the flexibility and dynamism it required. Because the company is currently seeking a second round of financing, it is crucial that it has an accurate, understandable, and transparent model to share with potential investors.

"We continued to encounter accuracy and efficiency challenges with our old model. We needed a flexible tool that would allow us to focus on the business needs versus solving formula errors," says Michael Longman, CFO of Asylum Telecom. In addition, the company's rapidly changing business required it to rethink parameters and assumptions it had included in its original model. The company chose Quantrix Modeler to develop its new model. "The executive team likes the auditability and robustness of the model. We can do simple things, like arranging the data so it can be viewed from various perspectives, allowing Asylum to compare and contrast targeted channels, that would have taken ages in our old model," says Longman.

In addition, Longman states that the ease of use of Quantrix Modeler has enabled multiple members of the management team, the board, and other interested parties to assess the business in a very dynamic fashion. "In our old Excel model, you needed intricate knowledge of how the model was constructed. In Quantrix, I can easily explain the structure, find key parameters, and teach people how to quickly and dynamically utilize the data," says Longman. "It is more adaptable and a much better representation of our business than our old model."

Quantrix Modeler incorporates a unique approach that separates the logic of a model from the structure, which allows users to create and use formulas outside the confines of the cell. Formulas are expressed in words rather than by cell coordinates so they are easy to understand, trace, and audit. Users can make changes, incorporate new dimensions, and view multiple scenarios dynamically without redesigning or reworking their model.

"Quantrix Modeler was developed to address the very challenges that companies like Asylum Telecom face on a day-to-day basis," says Chris Houle, Chief Operating Officer of Quantrix. "Quantrix Modeler is flexible and easily adaptable to changing business circumstances."

About Asylum Telecom

Asylum Telecom is a global provider of "turnkey" Internet-based communications solutions to Internet Service Providers, consumer brand companies, and enterprises. Via a worldwide network of Channel Partners and System Integrators, Asylum also offers robust corporate communications services that include PBX-integrated Internet telephony, GSM/IP telephony integration solutions, and multinational voice VPN services. Founded in February 2003, the company is a privately held, venture-capital funded company headquartered in New York with R&D and operational support offices in Budapest, Hungary and Cambridge, Massachusetts. For more information, visit: http://www.asylumtel.com.

About Quantrix

Founded in 2002 and headquartered in Portland, Maine, Quantrix develops financial and quantitative modeling software for professionals pushing the limits of traditional spreadsheets. Through intuitive architecture and a powerful, multidimensional calculation engine, Quantrix software enables users to reach new levels of business insight. Its flagship product, Quantrix Modeler, enables users to explore multiple dimensions simultaneously, define formulas with words rather than coordinates, and easily explore new scenarios without rewriting or restructuring models. Quantrix has customers in more than 20 countries. Quantrix has received funding from several sources, including the Maine Technology Institute. For more information, please visit Quantrix at www.quantrix.com or call 207-775-0808.

Quantrix
Chris Houle, 207-775-0808
COO
choule@quantrix.com
or
Harris Media Services
Alison Harris, 207-829-4500
alison@harrismediaservices.com
or
Asylum Telecom
Jeremy L. Foy, 917-477-0352 x8086
VP Marketing
jfoy@asylumtel.com