Liquid Engines - Press Release

LARRY LANGDON, MAYER, BROWN, ROW, & MAW PARTNER, FORMER IRS OFFICIAL AND HEWLETT-PACKARD TAX EXECUTIVE, JOINS LIQUID ENGINES ADVISORY BOARD

Guided by a Distinguished Panel of Tax and Business Experts Liquid Engines Delivers Advanced Technology That Supports Strategic Tax Planning

SUNNYVALE, CA, June 28, 2004 - Liquid Engines, a cash flow and tax management software company, today announced the appointment of Larry Langdon, Partner and Director of Global Tax at Mayer, Brown, Row & Maw, LLP and former IRS Commissioner of the Large and Mid-Size Business Division, to the Liquid Engines Advisory Board. Mr. Langdon has been recognized as one of the five most influential tax authorities in the world and brings to the board more than 35 years of tax management experience, including 21 years at Hewlett-Packard where he was vice president of Tax, Licensing and Customs. Joining on the advisory board renowned tax experts James Fuller, Walter Hellerstein, Bob Perlman, and Prentiss Willson, Mr. Langdon's appointment further exemplifies Liquid Engines' commitment to the modernization of corporate tax planning and cash management.

"Our mission at Liquid Engines is to help corporate tax departments unlock their strategic value with advanced technology that enables them to strike the delicate balance between reducing ETR risk and optimizing cash flow," said Gwen Spertell, CEO of Liquid Engines. "To accomplish this great mission we have brought together an unparalleled team of seasoned tax experts, economists, and technology developers. Larry is a key addition to this team as he brings to bear extensive experience in state and international tax law and planning that we can leverage to shape our corporate strategies."

"I'm honored to be included in this outstanding team of tax visionaries," said Langdon. "Financial and tax executives desperately need to change the way planning is done inside large corporations. The risks are high and mistakes can be extremely damaging to a company's balance sheet, as well as to corporate and personal reputations. The Liquid Engines system is a tax planner's dream as it drastically improves time to execution and accuracy while, most importantly, eliminating surprises."

Larry Langdon is currently partner and director of the Global Tax Practice at Mayer, Brown, Rowe & Maw, LLP where he focuses on tax controversy and planning. Prior to joining Mayer, Brown, Rowe & Maw, Larry served four years as the Internal Revenue Service (IRS) Commissioner in the Large & Mid-Size Business Division. In addition to the 21 years at Hewlett-Packard, Mr. Langdon's distinguished career includes executive tax positions at Vetco, Inc., and the Ford Motor Company.

Larry is a member of the American Bar Association, Section of Taxation, and has actively participated in shaping the tax profession by serving in leadership positions in noted organizations such as the Tax Executives Institute (TEI), the Manufacturers Alliance (MAPI), the National Tax Association (NTA), the International Fiscal Association (IFA), and the IRS Commissioner's Advisory Group. Mr. Langdon received his B.S. and J.D. degrees from Ohio State University, and his L.L.M. in Taxation from New York University.

The Liquid Engines Advisory Board is comprised of seasoned industry experts in business management, finance, taxation, and economics. Additional members of the board include: