SUNNYVALE, Calif., and SALT LAKE CITY, Utah—July 21, 2003—Interwoven, Inc. (Nasdaq: IWOV), a world-leading provider of content management for the enterprise, and SBI and Company, a leading professional services firm, today announced an enhanced partnership, pairing SBI's proven financial services and regulatory compliance experience with Interwoven's comprehensive compliance capabilities. The combined solution helps companies ensure their IT and content processes are compliant with increasingly stringent governance regulations, including the Sarbanes-Oxley Act of 2002 and Basel II, as well as the Securities and Exchange Commission ("SEC") Rule 17a, the National Association of Securities Dealers ("NASD"), and the New York Stock Exchange ("NYSE") electronic record keeping requirements.

Faced with the looming enforcement of regulations, such as Sarbanes-Oxley, which call for greater internal controls and accountability, more and more of today's businesses are focused on compliance. Responding to this need, Interwoven and SBI are ideally positioned to assist corporations in assessing, planning and implementing the most effective and appropriate business procedures and systems to address these regulations.

"Regulatory compliance is top of mind for any company that must file quarterly and annual reports with the SEC," said Ron Lyman, director for SBI and Company. "The capabilities of Interwoven together with our financial services and business process expertise will make it easier and more cost effective for corporations to fully comply with the new regulations and give CEOs and CFOs peace of mind when they certify their 10-K and 10-Q financial statements."

• Secure Collaborative Workspaces - Facilitates real-time meetings and discussions, including collaboration between board members and management in a fully auditable, secure environment as well as the creation and documentation of relevant internal controls and procedures; enables the secure storage and routing of content. Secure Web access ensures management has real-time visibility into ongoing processes.
• Enterprise Repository and Record-keeping - Enables businesses to manage thousands of information assets securely across numerous initiatives. All types of content, including documents, emails, and instant messages, now can be easily stored, classified as records, and controlled according to a predefined plan - from archival to destruction.
• Business Process Automation - Provides for the mapping of workflow tasks to internal or industry-specified controls thereby streamlining the review, approval, publication, and expiration of content, including 10-K and 10-Q reporting.

"There's no question today's companies are focused on meeting corporate governance mandates," said John Bara, senior vice president of marketing at Interwoven. "The question many have is how to comply. Recognizing this, we have partnered with SBI to help customers develop the critical systems and processes they need to ensure they are able to meet these mandates both as they exist today and down the road as specifics change."

SBI analysts, trained in the Sarbanes-Oxley Act, work in conjunction with corporate management and external auditors to provide the services listed below. SBI is currently working with a major telecommunications provider to deliver these services.

• Operational Control Assessment - SBI analysts work in conjunction with corporate management and auditors to conduct a review and evaluate corporate business processes and systems and their associated operational and integration controls. SBI has trained their analysts in the Sarbanes-Oxley Act and developed a consistent methodology and toolset for use in these assessments.
• Remediation - SBI can perform remediation and implementation of integration and operational controls and procedures in both business processes as well as IT applications. SBI can additionally design and implement change management processes and monitoring tools to ensure these controls and processes continue to perform their functions in the future.
• Control Monitoring Tools - SBI is skilled in the design, development and implementation of web-based monitoring and reporting tools such as a web-based controls repository with associated executive and managerial dashboards.
• Corporate Governance Portals - SBI can also build corporate governance portals that provide for the executive review of corporate financial and non-financial data, allow collaboration and commentary on the quality of reporting data, provide a knowledge bank for SEC filings, and implement a work flow engine to organize the timing and collection of inputs.

The Interwoven-SBI alliance is a component of the Interwoven Protect Program - a program designed to deliver comprehensive solutions to meet increasingly frequent and stringent compliance requirements. For more information on today's announcement about the Interwoven Protect Program, see http://www.interwoven.cn/news/press/2003/0721compliance.html). Interwoven, Inc. is a world-leading provider of content management software for the enterprise. Allied with the leading enterprise application providers, the Interwoven 6 platform provides content management for more than 1200 organizations world wide including Air France, Cisco Systems, General Electric, General Motors, and Yamaha. For more information visit www.interwoven.cn.

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