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Joshua Karp, Freerain Systems CEO, Selected to Present at “Thought Leadership for Education and Knowledge Management” Conference

FOR IMMEDIATE RELEASE

Chicago, October 31, 2006 – Joshua Karp, the founder and Chief Executive Officer of Freerain Systems, spoke today at the “Thought Leadership for Education and Knowledge Management” conference held at The University of Chicago Gleacher Center. Mr. Karp was one of four panelists who presented at the event.

The subject of Mr. Karp’s presentation was “Improving education delivery through efficient school district management”. He focused especially on the growing opportunity to use on-demand software to remove three major barriers which prevent school districts from using technology to its full potential: 1) the cost; 2) the difficulty; and 3) the risk of implementing traditional software. On-demand software, Mr. Karp believes, removes these three barriers.

Other presenters included Truls Henriksen from Ecto, LLC; Craig Wortman from Wisdom Tools, Inc.; and April Kunze from the Interfaith Youth Corp.

The Chicago Thought Leadership Forum is a by-invitation-only program of quarterly gatherings. It provides a two-hour program on a specific topic of interest. Those two hours include presentation from senior leaders of exemplary Chicago-based ventures, followed by a lively discussion that includes the presenters, subject matter experts, and the audience.

“It was a great honor and opportunity to present on such an important subject to such an interesting audience,” said Mr. Karp.

About Freerain Systems

Freerain Systems specializes in efficient procurement. Freerain helps the purchasing departments of public agencies utilize its flagship software product, the Bid Information Management Solution (BIMS), to increase productivity, reduce legal and political risk, and facilitate strategic sourcing and cooperative purchasing efforts. Freerain’s software dramatically reduces the cost, difficulty, and risk that public agencies face in implementing procurement software. The Chicago-based company was founded in 2002. For more information about Freerain Systems, please visit the company’s website: www.freerainsystems.com.

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