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  Hyperion Systems Engineering Ltd. signs agreement with ALG

Dateline: 23rd September, 2003
Contact Name: Elena Kontemeniotou-Volos
Contact e-mail: e.volos@hyperion.com.cy
Contact Phone: (357) 22 840700
Contact Fax: (357) 22 751 438
Web Address: http://www.hyperion.com.cy

Hyperion Systems Engineering Ltd., which provides high quality custom made solutions and services to the industry worldwide, from their offices in Cyprus, Greece, Middle East, U.K., Russia and India, announced today that they signed a partnership agreement with ALG, to promote, sell and implement its software products in Bahrain, Cyprus, Greece, Kuwait and Saudi Arabia. ALG is a leader in Enterprise Performance Optimization, offering tools that include, Predictive Planning and Activity Analysis.

HYPERION will provide sales and implementation resources to deploy solutions, based on ALG software, which will enable organizations to monitor and improve their value-based performance. As such, create shareholder value by increasing returns from existing assets or allowing for further investments with returns above the capital cost.

Under the agreement, HYPERION has the right to resell ALG software and is proceeding to form a dedicated implementation team for business performance monitoring and management solutions. This alliance with ALG will enable HYPERION to enhance its business intelligence offerings.

Hyperion Systems Engineering Ltd. provides world-class professional consulting services and solutions in the areas of Supply Chain Management, Advanced Planning and Scheduling, Dynamic Simulation and Modeling, Advanced Process Control & Optimization and Plant Information Management. Hyperion enables Process Manufacturing companies to increase efficiency and profitability. With headquarters in Cyprus and operating subsidiaries in the UK, Russia, Greece, India and Bahrain, Hyperion employs over 150 professionals who have implemented over 200 projects for companies such as Dow Chemicals, BP and Sasol, in the Oil & Gas, Chemical, Polymer, Food and Beverage, Pulp & Paper, Pharmaceutical, Steel and Aluminum Manufacturing, and Electronics industry segments. For more information, visit www.hyperion.com.cy

ALG Software (ALG) is a global provider of Enterprise Performance Optimization solutions. Its analytical software works across the organization to manage critical business functions and enable more effective decision-making. The ALG product suite supports profitability analysis, performance measurement, process optimization, and predictive planning and budgeting. ALG technology is in use at more than 600 organizations worldwide, including such leading names as JP Morgan Chase & Co., Great American Insurance, Bank of America, Hershey Foods, Fortis and the U.S. Patent & Trademark Office. ALG has more than 100 employees in the U.K., the United States and in other locations around the world. For more information, visit www.algsoftware.com