OuterBay Forms Advisory Board: Appoints Industry Expert As First Member

Alojamiento en posada/pension/parador MikonosPeter Levine, Former VERITAS Executive, Brings Extensive Software Experience and Expertise

CAMPBELL, Calif. (May 29, 2002) - OuterBay, the provider of Application Resource Management (ARM) software, today announced the formation of its advisory board and the appointment of Peter Levine as its first member. Levines active participation in the board and extensive expertise in numerous aspects of the software industry, including marketing, business development and engineering, will help contribute to the growth of OuterBay.

Levine was most recently at VERITAS software. There, as executive vice president for strategic and platform operations, he was responsible for worldwide marketing, OEM sales, business development (M&A, Venture Fund), and numerous new product and platform development groups. Levine had an eleven-year tenure at VERITAS, beginning as a software engineer who helped build the first release of that companys products.

Prior to his work at VERITAS, Levine was a software engineer at MITs Project Athena, where he worked on a variety of distributed computing projects. He holds a B.S. in engineering from Boston University and attended the Sloan School of Management at MIT.

"Were pleased to welcome Peter as the first member of our advisory board," said Michael Howard, CEO of OuterBay. "Peters deep application expertise will enable him to play a strategic role as we further develop and deliver market our Application Resource Management solutions."

"OuterBay is a leader in next-generation application-aware infrastructure," said Peter Levine. "Their solutions add tremendous value to an IT organizations ability to manage ever-growing application data environments."

About OuterBay

Santiago de Compostela cheap hotelsOuterBays Application Resource Management (ARM) solutions are a new class of application aware infrastructure. OuterBays software monitors and manages data growth in the application environment and takes action to maintain high service levels of performance and stability. OuterBays products include Application Resource Manager, LiveArchive, and Instance Generator. OuterBays product suite is engineered to work with leading ERP and CRM applications and reduces the total cost of ownership associated with enterprise application environments.

Founded in 1997, OuterBay is headquartered in Silicon Valley with offices in the United States, Europe and Australia. In September 2001, the Company closed its Series A funding of $10 million led by BA Venture Partners and Leapfrog Ventures, LLC. Customers include Fortune 1000 and emerging global economy leaders in such industries as high technology, manufacturing, and financial services. For more information on OuterBays solutions, contact OuterBay at www.outerbay.com or 408.340.1200.

# # #

Note to editors: OuterBay, Application Resource Management, Application Resource Manager, LiveArchive, and Instance Generator are trademarks of OuterBay Technologies, Inc. Other trademarks and registered trademarks referenced herein remain the property of their respective owners.