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FOR IMMEDIATE RELEASE

For information contact:
Amy Krigman
Topaz Partners
akrigman@topazpartners.com
781-388-7900, ext. 203

Carol Greenfield
Massachusetts Software & Internet Council
carol@msicouncil.org
617-437-0600, ext. 14

FINANCIAL,TECHNOLOGY LEADERS OFFER PREDICTIONS AT MASSACHUSETTS SOFTWARE & INTERNET COUNCIL ANNUAL MEETING

Federal Reserve Bank of Boston President, Technology Industry Executives Address Council Members

Boston, MA – January 15, 2003 – Cathy Minehan, president and CEO of the Federal Reserve Bank of Boston, Gary Beach, publisher of CXO Media and CIO Magazine, and John Landry, Chairman, CEO and CTO of Adesso Systems, Inc., offered their predictions on the economy and the technology industry for 2003 at last evening’s annual meeting of the Massachusetts Software & Internet Council. Seven new members were also elected to The Council’s Board of Trustees.

Offering her insights into the New England economy in 2003, Minehan said she believed that the short-term outlook calls for modest spending increases in both the household and business sectors. Citing a recent CIO Magazine tech poll, Beach delivered details on projected IT spending for the year ahead, saying that broad-based economic recovery would drive the tech sector, pointing to an upward trend in e-business software. Landry delivered his predictions for the year’s hottest technologies, citing ubiquitous wireless devices, increasingly inexpensive storage, continued advances in broadband access and new Web services.

“As our guest speakers indicated, the coming year promises to be an important one for the software and Internet industries. While we remain focused on the challenges our industry faces, we’re optimistic about the year ahead,” said Deborah Besemer, chairman of the Massachusetts Software & Internet Council. ” The Council prides itself on bringing together industry leaders that are relevant to Massachusetts businesses and providing a forum for idea sharing and discussion. We were fortunate to have leaders like Cathy Minehan, Gary Beach and John Landry with us to offer their insights.”

About the Massachusetts Software & Internet Council

The Massachusetts Software & Internet Council was founded in 1985 to promote the Massachusetts software and Internet industry, to help executives start, grow, and manage companies, and to help companies compete successfully in global markets. Currently there are approximately 600 member companies. The Council organizes more than 50 meetings a year on the business aspects of managing software and Internet companies; it conducts research on the industry; represents the software and Internet industry on technology-related public policy issues; creates innovative programs to deal with the shortage of skilled workers; and promotes Massachusetts globally as a center of technology leadership and innovation.