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First Albany Companies Selects Interface Software's InterAction as Centerpiece to Firm's CRM Strategy

Relationship Intelligence seen as critical to support investment banking, asset management and venture capital lines of business

OAK BROOK (IL) 4 February, 2004: Interface Software announced today that First Albany Companies, a leading independent institutional investment bank with over 400 employees, has selected Interface Software as the centerpiece of the firm's client relationship management (CRM) strategy. First Albany will be implementing InterAction to centralize and deliver mission-critical Relationship Intelligence.

"InterAction was the only product with tailored functionality geared to the specific lines of business that we play in, namely investment banking, asset management, venture capital and institutional sales," said Chad Herrgott, First Albany's Chief Technology Officer. "Once we understood the capabilities of the various products we looked at, InterAction was an easy choice."

Prior to selecting InterAction, First Albany utilized a variety of databases, spreadsheets and custom contact management systems to manage customer data. "These systems were highly manual, inefficient, and did not lend themselves to sharing information across multiple platforms and offices," said Herrgott.

Aside from a CRM solution tailored to First Albany's lines of business, the firm needed a system that was flexible enough to integrate with other enterprise applications and that could perform well in a distributed environment. "We preferred a light client front end - so that we could have a fast performing system for people out on the network, and at the same time not have to support a client," explained Herrgott. "InterAction did eighty percent of what we needed to do and was clearly the best fit."

On the asset management side, InterAction will provide users with a 360-degree view of the firm's portfolio companies, and provide quick access to information on the firm's investments. On the venture capital side, InterAction will be used to track and manage deals, deal flow, and information about the people and companies associated with those deals. "Keeping detailed account of the thousands of proposals and resulting deals we do is an enormous logistical enterprise," commented Herrgott. "InterAction will enable us to centralize all of this intelligence, access and share details quickly, and view this information from a contact, company or deal perspective, which is critical."

First Albany is also considering employing InterAction to support the investment banking, institutional sales and research side of its business. "As a research driven broker-dealer, we're looking at how to use InterAction to tailor information delivery to client preferences." "First Albany understands that for CRM to succeed, it must provide functionality specifically tailored to its lines of business - in this case investment banking, asset management and venture capital," said Barry Solomon, Interface Software's executive vice president. "We are confident that the Relationship Intelligence InterAction delivers will help first Albany succeed in its CRM initiative."

About Interface Software
Interface Software is the leading provider of CRM solutions enabling professional services firms and similar relationship-based organizations to create the Relationship Intelligence they need to generate new business and enhance client service. Its flagship product, InterAction, is a flexible and uniquely designed platform that delivers this Relationship Intelligence throughout the organization, quickly, efficiently and cost-effectively. Relationship Intelligence is a firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experience and expertise, empowering professionals to leverage who and what they know to uncover new revenue opportunities, differentiate themselves from the competition and enhance client service. InterAction is internet-enabled, allowing professionals to view information however they choose—through knowledge management platforms, corporate portals, intranets, extranets and wireless devices. Interface Software has received numerous accolades, including the Inc 500, the Deloitte & Touche Technology Fast 50 for Greater Chicagoland, the Deloitte & Touche Technology Fast 500 and the Upside Hot 100. For more information please visit Interface Software's website at www.interaction.com.

About First Albany Companies
Founded in 1953, First Albany Companies Inc. is a leading institutionally focused independent investment bank and asset management firm. Through its Taxable Fixed-Income, Municipal and Equity Capital Markets Divisions, the firm focuses on serving the institutional market, the growing corporate middle market and public institutions by providing its clients with strategic, research-based, innovative investment opportunities. First Albany offers a diverse range of products and advisory services in the areas of corporate and public finance as well as fixed income and equity sales and trading. FA Asset Management is an investment management company with a growing client base and increasing assets under management. FA Technology Ventures is a leading early stage investor, providing venture capital, management and guidance for companies in the emerging growth sectors of information technology and energy technology. First Albany is traded on NASDAQ under the symbol FACT and today has 19 offices in 12 states.

 
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InterAction, Watch List, Who Knows Whom and Relationship Map are trademarks of Interface Software, Inc. and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.