IntraLinks and PowerSteering Software Form Strategic Partnership to Streamline Mergers and Acquisitions
Alliance accelerates corporate integration process

Boston, February 28, 2005
PowerSteering, the only provider of solutions for measuring and managing strategic enterprise programs, and IntraLinks, the leading provider of virtual data rooms to the global merger and acquisition industry, today announced that they have formed a strategic partnership. Under the terms of the agreement, PowerSteering and IntraLinks will cross-sell each other's services, providing a seamless M&A process from due diligence to post-merger integration.

IntraLinks Virtual Data Rooms enable dealmakers to take the M&A process online, cutting an average of 30 days off dealtime. PowerSteering's platform assists in the post-merger phase of a transaction, using critical path methodology to speed the integration of human resources, legal, financial, sales and other corporate departments. By using IntraLinks' post-merger integration capabilities in conjunction with PowerSteering's robust project management tools, companies can achieve faster time to value in their M&A deals.

"After using a virtual data room, executives don't want to go back to the old way of managing information in a deal," said Christopher Thomas, executive vice president of business development at IntraLinks. "PowerSteering's service neatly picks up the integration part of the process following the due diligence, further ensuring that the transaction is as smooth and manageable as a company's daily business."

Executives facing merger integration activities encounter an array of mission critical and routine tasks that must be completed to the satisfaction of numerous observers, including investors, customers, suppliers and partners. PowerMergeTM, the newest addition to the PowerSteering Suite of solutions, enables executives responsible for aligning and executing merger integration activities to gain real-time visibility and accessibility into multiple integration projects and map them against established corporate goals and benchmarks.

"Mergers and acquisitions create several unforeseen challenges for multiple parties in distinct organizations," said Bob Hoyt, vice president of sales and marketing at PowerSteering. "The combination of PowerSteering and IntraLinks solutions provides unmatched insight into integration complexities at every stage of the deal, from inception to integration. Most importantly, no other set of merger integration tools on the market allows executives to tie financial savings directly to individual projects within their mergers."


About PowerSteering
PowerSteering Software, Inc. has dramatically improved the way businesses drive, manage, and track critical corporate innovation and growth initiatives. Using PowerSteering, corporate executives responsible for delivering results from corporate initiatives such as mergers and acquisitions, strategic sourcing, Sarbanes-Oxley and Six Sigma are able to easily review all projects in real-time and act on project status to ensure timely completion. PowerSteering is the only software that enables executives to tie financial savings directly to project outcomes and drive improvement in key performance metrics quickly, effectively and in real-time. The company leverages its deep experience in enterprise class quality and process improvement software to bring the speed, focus, and discipline of Six Sigma to enterprise program management.

The PowerSteering suite is currently being used to manage more than $15 billion in target savings, supporting over 35,000 active users and nearly 100,000 projects. Global clients include Alpharma, Diageo, EMC, General Electric, Pitney Bowes, Raytheon, Textron and Tyco. For more information, visit PowerSteering at www.powersteeringsoftware.com.

About IntraLinks
IntraLinks (www.intralinks.com), the leading provider of digital workspaces, connects business communities and accelerates the intelligent flow of information and documents among participants. Through IntraLinks' secure, neutral, online environments, companies are better able to compete globally by accelerating essential business processes, simplifying communication and fostering rapid workflow. IntraLinks is easily accessible anywhere, anytime using a web browser.

Since April 1997, more than 200,000 participants representing over 13,000 companies worldwide have used IntraLinks digital workspaces to communicate and collaborate on more than 20,000 projects and transactions. IntraLinks has been rapidly adopted by the financial services and pharmaceutical markets. Over 250 global companies are IntraLinks clients, including AstraZeneca Pharmaceuticals LP, Bank of America, Bear Stearns, Deutsche Bank, Dresdner Kleinwort Wasserstein, Ernst & Young, FDIC, JPMorgan Chase, TD Securities, Thomas Weisel Partners and WestLB. Founded in June 1996, IntraLinks is headquartered in New York with offices in Boston and London.