Former Chairman And CEO Of Net2000 Charlie Thomas Named As NISCO CEO

Company Founder Sundeep Sanghavi to Remain Chairman and President

FAIRFAX, VA - March 7, 2005 - NISCO, the only 100 percent paperless, financial assurance managed services provider, today announced that Charlie Thomas, founder of Claris Capital and former founder, Chairman and CEO of Net2000 Communications, has been named NISCO's Chief Executive Officer. Company founder Sundeep Sanghavi will remain Chairman and President and continue in a daily operational role.

As a recognized entrepreneur and business leader, Thomas brings over 18 years of executive and management expertise to NISCO. Thomas joined NISCO's Board of Directors in May of 2004. As a board member, he brought tremendous value and experience to the company during a period of strong growth.

"Sundeep, along with the leadership team at NISCO, has turned his vision of an enterprise-wide, 100 percent paperless business analytics and financial assurance platform into a reality," said Thomas. "NISCO's efforts have significantly increased efficiencies within Fortune 100 companies, generating significant returns on investment for their clients. Their marquee client base is truly impressive. I am fully committed to building on the rapid, profitable growth NISCO is experiencing, and eager to increase our position across Fortune 500 enterprises and government entities."

"No other company has a fully automated software platform that converts 'AnyBill, AnyPaper, AnyWhere' to a web portal providing much needed visibility and streamlined analysis of an organization's overall finances. With NISCO's software platform, senior executives can easily identify areas of process improvement, invoice inaccuracies, and readily obtain key financial analytics. This generates considerable savings, while simultaneously improving business efficiencies. NISCO has set the standard for a fully automated financial assurance management platform leveraging the combination of its patent pending enterprise software with proven business processes," Thomas continued. "Moreover, NISCO has demonstrated to several of its clients that it can mechanize the conversion of any paper to a digital format including financial statements (P&L, Balance Sheet, etc.), important documents, as well as annual and quarterly reports (10-K, 10-Q), thereby facilitating archival, retrieval and analytics processes while improving Sarbanes Oxley compliance.

"Charlie's understanding of NISCO's technology based solutions and his considerable management experience, coupled with our vision for enhancing existing applications, positions NISCO to achieve an even greater level of growth," said Sundeep Sanghavi. "I am extremely pleased that he has joined us, and look forward to working closely with him to make NISCO a name synonymous with enterprise financial assurance management."

Prior to founding Claris Capital in 2002, Thomas served as founder, Chairman and CEO of Net2000 Communications. Thomas led Net2000 through rapid growth, as the company evolved from a small, private telecom sales agent in 1993, to a publicly-traded broadband services provider with over 1,000 employees, more than 3,000 customers, and recurring revenues in excess of $120 million in 2001. Thomas led Net2000 to an IPO in March 2000, and raised over $800 million in equity and debt. As the telecom markets declined, Thomas managed the sale of Net2000 to Cavalier Telephone in January 2002. Thomas serves on several corporate boards and is also active in several charitable organizations including Childhelp USA and National Foundation for Teaching Entrepreneurship (NFTE). Thomas is author of the book "Entrepreneur: A CEO's Lessons in American Capitalism" which is scheduled to be released in May.

About NISCO

Based in Fairfax, Virginia, NISCO is focused on delivering the only 100 percent paperless and J2EE web-based enterprise financial assurance management platform. Named as a finalist for the 2004 American Business Awards Best Product of the Year, NISCO's software platform is designed to perform complete procurement to payment processing, while providing visibility to valuable financial data and analysis. NISCO prides itself in providing managed service and technology solutions that pay for themselves in less than twelve months. Clients include several Fortune 100 companies, as well as the largest IT consulting company in the world. Founded in 2001, NISCO combines superior technology with unparalleled cost management expertise to deliver optimal solutions for enterprise, telecommunications, and government clients. NISCO (www.niscosolutions.com) is a privately-held company and has offices in Fairfax, VA; Bangalore, India; San Ramon, CA; Denver, CO; Woodbury, CT; and Rochester, NY.

NISCO Public Relations Contact
Rachel Kelley
(703) 995-5900