IONTAS CLOSES SECOND ROUND OF FUNDING, LOOKS TO BUILD DEVELOPMENT TEAM, INTELLECTUAL PROPERTY

Austin, Texas and Donegal, Ireland - April 23rd 2004

Iontas closed its second round of funding April 9th 2004 with Enterprise Equity, Mentor Capital and existing private investors completing the final stage of the round. Commented Martin McCreesh, CTO, "The last portion of our second round funding will be used to build our development teams and to protect the valuable intellectual property they have created".

McCreesh commented further "Iontas is ideally positioned to exploit the rapidly growing business / technology optimization market. Our technology is invaluable when aligning IT systems with business goals. In order to manage your IT infrastructure, you must know how it is used and Iontas provides this essential information."

The business technology optimization market is projected to grow with over 20% compound growth to $6 billion in 2006 . It is one of a number of expanding markets that the core Iontas technology addresses.

About Iontas Ltd.
Iontas is an innovative provider of people and enterprise resource management software solutions for today's technology-driven age. Through its comprehensive development program and partner alliances, Iontas delivers a suite of integrated management tools that analyze the alignment of IT systems with business goals. Based in Donegal, Ireland with U.S. headquarters in Austin, Texas, Iontas management products have been widely adopted by leading clients including British Telecom, Conduit Europe and Stream International. For more information on Iontas, visit www.iontas.com.