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FreeBalance Cornerstone Project to Benefit Children in Developing World

Company’s first project will support the building and rehabilitation of schools in Afghanistan

OTTAWA, Canada (June 14, 2006) - FreeBalance, global leaders in Government Accountability Solutions, today announced the launch of the FreeBalance Cornerstone Project, which aims to raise funds for children's programs and for the building and rehabilitation of schools in the developing world.

The first FreeBalance Cornerstone Project is focused on Afghanistan, where UNICEF has identified a specific and urgent need in the area of educational support. According to UNICEF, approximately 75% of schools were damaged during the three decades of conflict in Afghanistan. The children in Afghanistan continue to be challenged by a lack of physical learning space, a shortage of schools, overcrowding of available classrooms, and a considerable gender disparity between male and female enrollment. Under the Taliban regime, girls were banned from school.

The initial FreeBalance Cornerstone Project in Afghanistan was made possible through the fundraising efforts of FreeBalance employees and was bolstered by a matching corporate contribution. The funds raised for the project will be used to rehabilitate a damaged school in Afghanistan and will provide essential sanitation facilities, desks, notebooks and school materials.

"FreeBalance is committed to making a difference in the developing world and this UNICEF project provides us with a unique opportunity to affect change and invest in the future of children living in challenging regions of the world," said Manuel Schiappa Pietra, FreeBalance's President & CEO. "We hope that the FreeBalance Cornerstone Project will inspire our team and our international network to rise to the challenge and help raise funds in support of critical educational and development programs."

The successful fundraising campaign and the Afghanistan project were celebrated today at a company reception where a cheque was officially presented to UNICEF. FreeBalance and UNICEF also unveiled plans for the second FreeBalance Cornerstone Project in Sudan, which will focus on education and urgent medical programs for children in the Darfur region.

For more information on the FreeBalance Cornerstone Project or to find out how you can contribute, please contact info@FreeBalance.com.

About FreeBalance

FreeBalance provides software solutions for public financial management to governments worldwide. Software solutions from FreeBalance help governments improve fiscal transparency,accountability, and good governance as the foundation for economic growth and development.

The FreeBalance Government Accountability Suite supports all aspects of the budget cycle and provides fiscal control over fund allocations, expenditures,appropriations, revenue administration, and human capital management. FreeBalance software is the most-widely deployed financial managementapplication inside the Government of Canada. FreeBalance software is used by more than 30,000 public finance managers to manage billions of dollars of government expenditures and more than 700,000 public servants worldwide. Customers include the U.S. Department of Transportation, the Governments of Canada, Nunavut, Guyana, Mongolia, Sierra Leone, and Kosovo.

Founded in 1984, FreeBalance is headquartered in Ottawa, Canada with a sales office in Washington, DC, USA. FreeBalance partners with local systems integrators to provide rapid localization and implementation services.