CONCENTRIC SOLUTIONS ANNOUNCES PARTNERSHIP WITH UBMATRIX TO PROVIDE XBRL COMPLIANT REPORTING SOLUTIONS FOR ORACLE HYPERION CUSTOMERS

20 April, 2010

Concentric Solutions, a leading provider of Oracle Hyperion Enterprise Performance Management (EPM) solutions and UBmatrix, a provider of market-leading XBRL information exchange technology today announced a partnership to provide XBRL reporting solutions and consulting services to Oracle Hyperion customers.

"We are very excited about our new partnership with UBmatrix. It augments our existing technology offerings with best of breed XBRL production reporting software and it enhances the breadth of the financial reporting solutions that we can offer our Oracle Hyperion customers," said David Watson, Commercial Director, Concentric Solutions. "The UBmatrix technology will allow us to build solutions that ensure XBRL reporting remains an integrated part of the normal financial closing cycle".

With XBRL compliant tax reporting deadlines looming for UK companies, there is a pressing need for businesses to address how they will organise reported information into a format that can be output in XBRL. HMRC require that all corporate tax returns falling due from end of March 2011 are filed in iXBRL format. The UBmatrix products enables companies to utilise information published from group financial reporting systems, and manage the process of producing XBRL reports ready for regulatory filings.

"Concentric Solutions' already proven experience with financial reporting solutions will help their clients quickly and efficiently meet the tax reporting requirements mandated by HMRC," stated Martin DeVille, Managing Director, Europe, UBmatrix.

XBRL (eXtensible Business Reporting Language) is an international standard that simplifies electronic reporting of business and financial results. XBRL allows public companies and regulatory agencies to communicate accurate and transparent business and financial data with one another regardless of each organisation's technologies or software platforms.

Concentric Solutions is an Oracle Gold Partner that specialises in the Hyperion suite of EPM applications. Oracle's Hyperion applications support the complete management cycle from strategic planning, operational budgeting, forecasting and modeling to group financial consolidation, management and statutory reporting. With over 200 successful Hyperion implementations in place, Concentric Solutions has an established reputation with FTSE250 organisations and is the current UK Oracle User Group Gold Hyperion Partner of the Year. The consulting team at Concentric will be trained on the UBmatrix solutions allowing the company to provide XBRL software implementation services to Oracle Hyperion customers.

About Concentric Solutions
Concentric Solutions is a leading Enterprise Performance Management consultancy that specialises in the supply and implementation of financial consolidation software, budgeting, planning and forecasting software, financial reporting and compliance solutions and executive dashboard applications to mid and large sized organisations. The company is one of Oracle's leading Enterprise Performance Management applications partners, with extensive expertise of Hyperion Enterprise, Hyperion System 9, Oracle Hyperion EPM Fusion 11 and associated BI technologies. Concentric Solutions has successfully delivered over 200 EPM solutions to a range of blue-chip client organisations across the UK & Europe. The company is headquartered in Kent, England with offices in North West England and Munich, Germany. For more information, please visit www.concentricsolutions.co.uk or contact Chris Miles on email: info@concentricsolutions.co.uk.

About UBmatrix
UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organisations and enterprises, allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange, and reporting. UBmatrix markets through an extensive network of OEM partners, including Oracle, SAP, Information Builders and works with a wide range of implementation partners. XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the SEC, FDIC, and the European Central Bank Supervisors. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and regulatory compliance. UBmatrix is based in Silicon Valley with development centers in Bellevue, WA, and New Delhi, India. For further information, please visit www.ubmatrix.com