AXO Axos Financial Inc

AXS-One and RedFile Announce Strategic Partnership Reseller Agreement Will Offer Customers Expanded Choices to Help Optimize Records Retention and E-mail Archiving for Compliance and Legal Discovery RUTHERFORD, N.J. and MCLEAN, Va., June 7 /PRNewswire-FirstCall/ -- AXS-One Inc. (AMEX:AXO), a leading provider of records management and enterprise content management solutions, and RedFile, a digital risk and information management solutions provider, today announced a strategic partnership to offer comprehensive hosted active archival solutions designed to help corporations meet fluid regulations, expedite legal discovery and streamline records management. RedFile will serve as a reseller of the AXS-One(R) Compliance Platform and AXS-One's e-mail and instant messaging (IM) archive software, and will provide a hosted option for organizations who wish to outsource their records retention needs in order to reduce infrastructure requirements, including on- going administration, thereby allowing them to remain focused on their core business activities. "As a market leader, AXS-One is always looking for ways to serve its customers more effectively," said Peter Mojica, AXS-One's Vice President of Product Marketing & Business Development. "This is one of the first partnerships in this space that offers a hosted service model for comprehensive archival and compliance solutions that covers more than just e-mail. We are confident that many mid-sized companies will appreciate this option to help them comply with current and forthcoming regulations without having to commit to additional internal infrastructure. RedFile's expertise in legal discovery made the company a great partner for AXS-One as the legal liability associated with electronic records is a growing concern of organizations today." The demand for active archiving and open solutions for records retention is being driven by companies' rising volumes of real-time, data-based communications and regulatory compliance mandates, including Sarbanes-Oxley, HIPAA and SEC17a-4, and the persistent threat of litigation. Also, as e-mail has become the communication channel of choice in business today, the courts have responded, and more often than not, deemed e-mail as discoverable in court cases. To address this, organizations need to transition from traditionally hardware-based storage practices to archival strategies that allow them to capture, store, retrieve, search, and manage e-mails instantly within their ever-changing and growing environments over long periods. And while the current regulatory focus is concentrated in the financial services and healthcare industries, the legal liability concerns span across all markets. "We wanted to partner with AXS-One because the company offers the only platform on the market that goes beyond e-mail and instant messaging," said Dr. Andreas Scherer, Chief Operating Officer for RedFile. "Litigation costs and fines for not being compliant with the growing list of industry-specific requirements can be staggering. The AXS-One Compliance Platform will be an important part of our strategy to create a flexible and reliable archiving solution for our customers. The flexibility and scalability of AXS-One's software has been demonstrated time again for more than a decade within its impressive client-base. We could not pass up this opportunity to offer a best-choice solution." To learn more about AXS-One and RedFile, visit the companies at the SIA 2004 Technology Management Conference taking place June 8-10 at The Hilton New York in New York City. The companies will be exhibiting in booth #1434. About AXS-One Inc. AXS-One (AMEX:AXO) is a leading provider of records management, e-mail and instant messaging archival management, financial management, and workflow software to efficiently manage complex business processes. AXS-One has implemented high-volume, interoperable, scalable, and secure business solutions for the global 2000. Its Web Services-based technology has been critically acclaimed as best of class. The AXS-One Compliance Platform Solutions provide fast deployment of e-mail/instant messaging archival solutions for regulatory compliance and operational efficiency. AXS-One has offices in worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is headquartered in Rutherford, New Jersey, U.S.A. For further information, visit the AXS-One web site at http://www.axsone.com/. About RedFile RedFile is a Digital Risk and Information Management (DRIM) solutions provider. Founded in 2002, RedFile was created to help organizations accurately assess digital risk vulnerability and cost effectively implement digital risk solutions to increase information reliability and shareholder confidence while reducing overall technical infrastructure expenditures. RedFile specializes in providing solutions to commercial and governmental organizations to satisfy increasing regulatory requirements including SEC Rule 17a-3 and 17a-4, HIPAA, DOD Standard 5015.2 and others. RedFile offers a valuable combination of expertise and infrastructure. RedFile delivers unparalleled security and technical capabilities to its clients. RedFile applications are designed to satisfy critical business needs for disaster recovery, online backup, e-mail archiving and professional services. In a climate of increasing uncertainty and complex political regulatory concerns, RedFile is trusted resource for digital risk and information management. For more information visit http://www.redfile.com/ or call 877-REDFILE. This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission. AXS-One, the AXS-One logo, "Access Tomorrow Today," AXSPoint, and TransAXS are registered trademarks of, and e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART, Tivity and AXS-Link are trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies. For further information, please contact: Dawn Ryan Melissa Maslar AXS-One Inc. RMR & Associates, Inc. for RedFile 201-372-6243 301-217-0009 x 38 Investors: Matthew Hayden Hayden Communications, Inc. for AXS-One 858-456-4533 DATASOURCE: AXS-One Inc.; RedFile CONTACT: Dawn Ryan of AXS-One Inc., +1-201-372-6243, or ; or Melissa Maslar of RMR & Associates, Inc. for RedFile, +1-301-217-0009 x 38, or ; Investors: Matthew Hayden of Hayden Communications, Inc. for AXS-One, +1-858-456-4533, or Web site: http://www.axsone.com/

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