TORONTO, CANADA, 12 March 2002 – Osellus Inc. today announced it has opened its first offshore location for the development and testing of the company’s IRIS application.

The new offshore operation will leverage the benefits of lower costs and extensive skills found in Thailand to bring future releases of the company’s flagship IRIS product to the global market faster. IRIS is designed to simplify many of the day-to-day tasks of software development while ensuring the company’s development process conforms to its adopted methodology.

“If we expect our clients who are increasingly adopting the offshore development model to realize the value of our IRIS solution, we have to prove its value ourselves,” says Aditya Jha, president of Osellus Inc.

The company plans to implement a streamlined, efficient enterprise software application development operation using its own software. In this way, the product development and beta testing will happen simultaneously, allowing any problems to be worked out internally before the product goes to market.

About Osellus

Osellus is a leading provider of process improvement and automation solutions for the software development industry. Osellus helps software development organizations select, enhance, model and automate the underlying processes that support their application development efforts. By adopting a process-centric development model, Osellus customers are better positioned to meet their time-to-market, quality and cost objectives.