News

Houston, TX, February 11, 2004 - Acorn Systems announced today that SUPERVALU INC. has selected Acorn Systems Profit Analyzer™ software, to provide profitability analysis and improvement capabilities for their distribution operations. Named Retail Company of the year by Grocery Headquarters Magazine, SUPERVALU ships more than 1 billion cases each year to its 1,358 retail locations that make SUPERVALU the 10th largest grocery retailer in the U.S. The solution will enable SUPERVALU to replace it’s current customer profitability package.Profit Analyzer’s advanced analytics is not only able to replace the critical functionality, but it will also do it faster, easier, with less maintenance and human intervention and a clear growth potential to expand capabilities when needed.

Houston, TX, February 4, 2004 - Acorn Systems has been selected by Citigroup Technology, Inc. (NYSE: C) to provide an enterprise-wide IT Chargeback and Shared Services costing system that will encompass all IT cost centers, products, product types and sub-products from Citigroup Technology and associated corporate functions. This solution is an enhancement to Citigroup's current system and part of an ongoing initiative at Citigroup to exercise industry leading cost controls and accurately allocate indirect cost within Citigroup. The solution will use Acorn Systems' Cost Analyzer™ 4.0 software and Parson Consulting's Cost Path™ Implementation Methodology to automate the periodic process of driving actual or budgeted costs accurately through cost centers and sub-products to Citigroup's business units based on the costs to provide each service. This actionable information will then be delivered to decision makers for their analysis and action using Cost Analyzer's web-based reporting capabilities.

A Cost Analyzer model will be created that will allow Citigroup to better analyze monthly product and sub-product cost rates and to understand the underlying reasons for the variance from the budgeted prices resulting in:

Gains Citigroup, Sysco Foods, Charles Schwab, Target and Supervalu as Customers

Houston, TX — February 4, 2004 1 - Acorn Systems recorded a 176 percent increase in revenue in 2003, with greater than 468 percent quarter-over-quarter revenue growth. The company won multiple Fortune 500 customers in Financial Services, Retail, Healthcare, Consumer and other vertical industries in North America, while expanding into Europe with numerous customer implementations.