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The School District of Philadelphia Implements Freerain Systems’ Bid Information Management Solution (BIMS) to Improve Procurement Productivity and Ensure Complete Records

FOR IMMEDIATE RELEASE

Chicago, January 26, 2006 – Freerain Systems today announced that it successfully implemented the Bid Information Management Solution (BIMS) for the School District of Philadelphia’ s Office of Procurement Services. In doing so, the Office of Procurement Services becomes a nearly-paperless office. The School District estimates that BIMS will improve its buyers’ productivity by 15%.

The Office of Procurement Services now is able to access the 130,000 pages of procurement documents it generates each year through an internet browser using BIMS, instead of in hard copy. Not only will this allow the District to reduce legal risk by ensuring a complete procurement information archive, but it will also dramatically improve the Office’s productivity by providing capabilities to manage and utilize procurement information in ways it never could before.

“BIMS allows the School District of Philadelphia to unleash the power of its procurement information,” said Joshua Karp, Chief Executive Officer of Freerain Systems. “I’ve seen the District perform searches which were not even possible before but are completed in just a matter of seconds now.”

“The successful implementation of BIMS reduces the time buyers spend searching for documents,” said Kimberly A. Sangster, Senior Vice President, Procurement Services. “Most importantly, it allows us to compile information in a manner that was impossible in the past. Using BIMS, we can analyze and research our procurement to increase our purchasing power.”

About the School District of Philadelphia

The School District of Philadelphia governs 273 public schools in the city. With an annual budget of $2 billion, the district supplies goods and services to its schools and ensures that all the teachers and students receive the resources necessary to achieve positive educational outcomes. For more information about the School District of Philadelphia, please visit the District’s website: www.phila.k12.pa.us.

About Freerain Systems

Freerain Systems specializes in efficient procurement by helping procurement and purchasing departments use technology to manage their documents. The company’s flagship product, The Bid Information Management Solution (BIMS), is used to archive historical procurement records, improve productivity, and increase an agency’s purchasing power. For more information about Freerain Systems, please visit the company’s website: www.freerainsystems.com.

Contact: Andrew Taylor, Director of Business Development, Freerain Systems, (312) 893-5055 or ataylor@freerainsystems.com