Jan. 1, 2004 (New York) Great Minds Software, Inc. (GMS) announces the immediate release of Contract Advantage™ Web, a next-generation contract management software product. Contract Advantage is based on 15 years of experience developing contract management software solutions for industry, government and not-for-profit institutions.

According to Alan Mazursky, President & CEO of Great Minds Software, "the interest in advanced contract management solutions in our target markets is increasing. Based on our experience in the industry, we have built a flexible and scalable product based on the latest Microsoft .NET technologies, integrated with Microsoft's Office product line and we have partnered with leaders in document management, text search, and database and reporting technologies to incorporate their engines in our systems." Contract Advantage Web enables users to become immediately productive.

GMS can scan client legacy contracts, automatically extract relevant contract data and populate the contract database for delivery. The system tracks contract parties, responsibilities, due dates, expirations and renewals, amendments, and many contract details that are important for analyzing the contract database. The contract search mechanism is very powerful and easy to use - instantly find contracts meeting the user's search criteria. Perhaps the most important features of Contract Advantage Web are the automation features. The email-based notification system, AdvantageAlert™, ensures that every individual identified as a "responsible person" in the system will be informed of pending, due, overdue and otherwise open actions on a timely basis. There is an early warning system to ensure that every action can generate alerts well in advance of the actual due date. Alerts can also be generated whenever there is a change is a significant event.

Advanced features, like master/sub tracking, intellectual property management, insurance certificate management, litigation tracking, clause repository management, version tracking, and automatic exports to Microsoft Excel offer users some of the most important capabilities requested by contract management organizations.

Alan Mazursky goes on to state "... we have incorporated best of breed features throughout the system. We have worked with a wide range of clients, and it is their needs and experiences that have driven features in this release - as well has providing us with a map of our future product releases."

In addition to the core contract management solutions, GMS also offers enhancement modules and industry-specific functionality for healthcare, pharmaceuticals, satellite/cable broadcasting, and local government. Enhancement modules include collaboration, document repository with full-text search, asset management, and external systems integration. Great Minds Software, Inc. is involved in marketing and implementing contract management solutions to a wide range of clients, including those in government, business and not-for-profit institutions. Great Minds Software also offers contract management solutions for smaller needs and for non-web applications. The client base includes over 500 implementations worldwide.

For more information please contact:

Liam Cregan
VP Sales
Great Minds Software, Inc.
(212)244-5522

or send an email to Request.Info@greatminds-software.com to the attention of Liam Cregan. The website URL is http://www.greatminds-software.com.