Press Relations: Investor Relations:

Lisa Savino, Dir. of Marketing Kley Parkhurst, SVP

ePlus inc. ePlus inc.

Tel: (631) 218-9510 Tel: (703) 709-1924

lsavino@eplus.com kparkhurst@eplus.com

ePlus LAUNCHES Enterprise Cost Management

Innovative Approach to Reducing and Managing Costs Throughout the Enterprise Integrates ePlus’ Business Process Outsourcing and its Leading Business Applications

HERNDON, VA, May 29, 2002– ePlus inc. (Nasdaq NM: PLUS) today announced ePlus Enterprise Cost Management™ (eECM™), an innovative and proprietary approach for reducing and managing costs throughout any organization. eECM combines ePlus’ leading application software, business process outsourcing, and ePlus services, to automate and streamline the entire lifecycle of indirect purchases. Designed in response to customer requirements, eECM minimizes financial and operational costs while providing an exceptional level of integrated business automation and outsourced services to yield measurable cost savings. eECM is a flexible solution which integrates with existing customer IT infrastructures, internal business processes and preferred suppliers.

A recent study conducted by Aberdeen Group, Inc. determined that enterprise costs represent one of the largest opportunities for savings and improvement. Indirect operating costs include those associated with the purchase, management, and financing of non-production goods and services, and according to Aberdeen, represent a large and poorly controlled expense at most enterprises.

“ePlus provides customers with a highly effective suite of ECM solutions complimented by deep domain expertise and over a decade of proven experience improving cost management for midsize to large enterprises,” said Tim Minahan, senior vice president of Aberdeen. “ePlus offers a compelling subscription based license that lets customers amortize payments for the ECM solution over a multiyear contract, making critical solutions more affordable, and improving cash flow for ePlus customers. This flexible business model also better positions companies to take a measured approach to ECM, using savings from one area of ECM – such as eProcurement – to fuel investments in other areas, such as asset management.”

The eECM methodology is modular and can be integrated with all ePlus solutions or with third-party software or services. It offers a flexible delivery model, to improve a company’s ability to capture, analyze, reduce and sustain enterprise cost and performance improvements. It is comprised of the following integrated solutions:

o Business Process Outsourcing: Utilizing its proprietary technology and expertise in automated business processes, ePlus provides many outsourced services to augment the eECM solution for customers. These services include payables processing, vendor management, contract compliance, invoice reconciliation, and document imaging. ePlus BPO services enable customers to focus on their critical business objectives and outsource business administration to a more efficient provider, preserving capital and freeing up IT and personnel resources.

• eProcurement: With Procure+, ePlus’ leading eProcurement software, eECM automates the entire procure-to-pay process. The solution’s sophisticated workflow, catalog management, and transaction management capabilities empower employees with the tools necessary to search, request, and acquire goods and services while instilling centralized control over enterprise purchases and processes. Asset purchases made through Procure+ can be loaded into Manage+. Utilizing Pay+™, customers can view invoices, purchase orders, and other documents related to the Procure+ and eECM solution.
• Asset Management: Manage+ is ePlus’ leading asset management software, which streamlines tracking of all corporate assets, reduces paperwork, increases productivity and delivers valuable business intelligence for compliance, reporting, budgeting and planning. Asset purchases made through Procure+ (or any marketplace, vendor, or eProcurement system) can be linked to Manage+ to provide an audit trail and detailed information for each asset. Utilizing Pay+, customers can view any asset-related document, including vendor contracts, lease agreements, invoices, payment information, and purchase orders.
• Supplier Enablement: Usable content, organized catalogs, and enriched data are necessary components of any successful supplier enablement strategy or eProcurement system. Content+ is ePlus’ leading catalog and content management software, built on 25 years of hands-on experience. Processing content for millions of SKUs, this patented technology contains over 250,000 pattern matching rules and 40,000 product classifications to create easily accessed web-enabled catalogs. eECM’s Content+ solution is the best way to generate catalogs from your preferred suppliers, or to deliver your content to your customer’s web-buying systems.
• Strategic Sourcing: ePlus experts and eECM software help customers analyze spend, develop a strategic sourcing strategy to lower the direct costs of purchasing, and automate internal business processes to generate internal cost reductions. As an authorized reseller of all leading IT hardware and software brands, customers often generate additional cost savings by purchasing from ePlusMarket and automating the ordering, staging, imaging, delivery, and payment for the entire IT platform. The resulting savings can be significant, with internal cost reductions in the areas of reduced paperwork, reduced errors, and reduced or redeployed personnel.
• Financial Services: ePlus Financial Services offers a wide range of competitive and tailored financing options, including ePlus Leasing™ and financing for a wide variety of fixed assets. Pay+, ePlus software utilized in eECM for electronic bill payment and presentment (EBPP), and document imaging, reduces the cost of processing financial transactions in the Financial Value Chain through an automated order and financing solution. Pay+ can be integrated into the eECM solution and its components such as Procure+ and Manage+.

Noting a rapid, 90-day implementation that was rolled out to more than 20 different locations and hundreds of employees, Michael Baker Corporation’s Manager of IT Acquisition, Amy Pullman said, “ePlus ECM solutions shortened our purchasing cycle 50%, improved contract compliance by nearly 60%, and saved the company a substantial amount of money in procurement costs. MBC is using eECM to improve business process services on a number of critical procedures – from eProcurement, to leasing, asset management and automation of certain business functions.”

Tangible benefits of the eECM solution include:

o Automation of internal business administrative processes resulting in improved productivity, improved cycle-times, reduced headcount, better visibility, and reduced administrative costs.

o Reduced cost of purchased assets through strategic sourcing, spend management, streamlining of suppliers, vendor contract compliance, better visibility and control of purchases, and negotiation leverage.

o Reduced total cost of ownership for fixed assets throughout the ownership lifecycle, including improved utilization, better planning and budgeting, reduced redundancies, software license compliance, and efficient disposal of assets.

o Lower financing costs, including better front-end and back-end processes, end-of-lease management, tax compliance and management.

o Minimal upfront costs, no third-party consultants required for implementation, high ROI, and no IT infrastructure required.

"ePlus is unique in its ability to deliver an end-to-end ECM solution,” said Phillip G. Norton, President and CEO, ePlus inc. “We have extensive domain expertise in all of the critical areas, expert business processes, and leading technology to provide complete automation. I believe the ePlus Enterprise Cost Management solution is the best approach for reducing and managing costs in today’s economy.”

Free Webinar and White Paper

ePlus will host a free, online web conference on June 12, 2002, at 12:00 EST to discuss how ePlus creates a turn-key eECM solution by combining leading edge technology with extensive domain knowledge. Based on a decade of real world experience with hundreds of clients, ePlus has developed the eECM Framework in a completely flexible model that allows easy integration with existing systems. Participants are invited to register at http://www.eplus.com/entcostmgt_des.shtml and learn how the ePlus ECM Framework provides unprecedented visibility and transparency into both enterprise spend and costs.

To learn more about the eECM application suite, and request a copy of the Aberdeen white paper entitled, “Enterprise Cost Management: A Holistic Approach to Capturing and Sustaining Cost Savings,” visit http://www.eplus.com/whitepaper_reg.shtml .

With over 10 years of experience and sustained profitability, ePlus offers total business process automation through the seamless integration of products and services. ePlusSuite consistently helps clients achieve their goals by leveraging a combination of collaborative disciplines such as business and financial services, asset management, eProcurement, and IT Sales and Services.

About ePlus inc.

A leading provider of Enterprise Cost Management, ePlus provides a comprehensive solution to reduce the costs of purchasing, owning, and financing goods and services. ePlus Enterprise Cost Management (eECM) packages business process outsourcing, eProcurement, asset management, supplier enablement, strategic sourcing, and financial services into a single integrated solution, all based on ePlus’ leading business application software. Profitable since inception in 1990, the company is headquartered in Herndon, VA and has more than 30 locations in the U.S. For more information, visit our website at www.eplus.com, call 800-827-5711 or email to info@eplus.com.

ePlus™, ePlusSuite™, Procure+™ , Manage+™ , Service+™, and MarketBuilder™ are trademarks of ePlus Inc. ePlus Enterprise Cost Management, eECM, and ePlus Leasing are trademarks applied for of ePlus Inc. Finance+^SM is a registered service mark of ePlus inc. ePlus Content Framework^SM is a service mark applied for of ePlus.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release, which are not historical facts, may be deemed to be "forward-looking statements". Actual and anticipated future results may vary due to certain risks and uncertainties, including, without limitation, general economic conditions; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; the creditworthiness of our customers; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to realize our investment in leased equipment; our ability to reserve adequately for credit losses; fluctuations in our operating results; our reliance on our management team; and other risks or uncertainties detailed in our Securities and Exchange Commission filings.