mValent Appoints Software Industry Veteran Joe Forgione as President and CEO

Brings More than 20 Years Experience Leading Global Software Organizations; Proven Track Record Building Partner Relationships, Creating New Initiatives and Driving Growth

Burlington, MA – September 13, 2005 – mValent, the leader in automated application configuration management software, today announced the appointment of software industry veteran Joe Forgione as President and CEO. Forgione brings extensive senior management experience leading global organizations and driving new business ventures. To support mValent’s market expansion, former mValent President and CEO Swapnil Shah assumes the role of Senior Vice President of Strategy and Business Development.

“Automating application configuration management is a market opportunity that is rapidly emerging as IT organizations recognize the benefits derived from automating very complex, time-consuming and error-prone tasks,” said Forgione. “mValent is poised to capitalize on this significant opportunity with impressive customers and a solution that reduces enterprise operational costs, application backlogs and the risk of configuration change errors. With the strength of the mValent management team, we will drive increased sales, continue to establish our competitive position and expand our partnerships. I look forward to working with our customers and partners to move mValent to the company’s next phase of growth.”

IT departments within large enterprises are faced with managing hundreds of applications, often distributed throughout global locations. The challenge of controlling and managing the underlying IT infrastructure required to deploy business-critical applications is often handled manually, leading to errors and creating significant application backlogs. This IT infrastructure includes application servers, Web servers, databases, middleware and operating systems. At a time when IT is moving aggressively to a services model, solutions are needed to automate complex, repetitive activities that drain IT resources and increase risks of downtime. Automating application configuration management can reduce the IT service workload by more than 50% and unlock the backlog of applications waiting to be deployed to improve business competitiveness.

“We are extremely pleased to attract someone of Joe’s caliber and experience to lead mValent as the company focuses on growing revenue, building market share and expanding sales relationships,” said Chip Hazard, general partner, IDG Ventures. “Swap and his team have delivered world-class application configuration management solutions that address complex issues facing enterprises both at the operational and IT levels. With brand name customers, mValent is well positioned to capture this market opportunity.”

Prior to joining mValent, Forgione was Vice President of Solutions for Novell (Nasdaq: NOVL) where he was responsible for Global Solutions Creation and Marketing. Forgione also served as President and CEO of content management leader Eprise, a company that he took public. Prior, Forgione was Vice President of Business Development and Planning for the Internet Applications Division of Lotus, now part of IBM where he drove OEM relationships, strategic partnerships and business alliances for Lotus’ Internet applications. He also served as General Manager of Lotus Notes solutions products. Earlier, Forgione co-founded HyperDesk, an object-oriented tools company and held various marketing management positions at Data General.