Portsmouth, N.H., October 07, 2003 - Swingtide Inc. announces the formation of an alliance with Computer Sciences Corporation (NYSE: CSC) to help financial services firms realize the full value of distributed technologies such as Web Services and XML in next generation software applications.

Many financial services firms are either considering or actively deploying systems that use modern technologies such as XML and Web Services. A key objective of these systems is to streamline processes and reduce maintenance costs by automating business processes that span existing systems, various EDI and workflow solutions, and different messaging systems. CSC and Swingtide will help insurers, banks and healthcare organizations get started by laying a solid foundation of IT skills development and reference models; an architecture that will standardize application interaction and an integration model that will provide the roadmap in the development of distributed system networks.

Under the terms of the agreement, CSC will provide services to Swingtide clients, teaming to help financial services firms adopt XML. CSC and Swingtide will collaborate on four offerings: an industry-specific XML interoperability and education lab; a standards-based knowledge management community for XML and Web Services; a custom XML-readiness process that focuses on best practices for service-oriented architectures and deployments; and analytical software to track XML messages and provide business activity monitoring across a fully distributed enterprise application. The first set of combined offerings, training workshops and online access to a knowledge and collaboration system, will be available in October.

"Swingtide was a natural fit for an alliance with CSC because of its extensive adoption of industry-standard transaction definitions into their product, Swingtide Monitor," said Richard Carreau, executive vice president of CSC's Financial Services Group. "CSC and Swingtide are committed to help our clients combine emerging XML and Web Services technology standards with the work already done in vertical industry organizations, such as ACORD in insurance and MISMO in mortgage banking."

"Our understanding of financial services business challenges and our work with both the key vertical and horizontal standards bodies can help clients implement new technology," said David Wroe, Swingtide's CEO and president. "Swingtide's and CSC's open and technologically unbiased approach will enable clients to choose their individual messaging technology and implementation, and yet still achieve an overall XML Network perspective with everything working together in their heterogeneous environments."

Larry Lennihan, managing director of Pequot Ventures and Swingtide's chairman, expanded "CSC brings both scale and depth of application commitment to the financial services market and will greatly enhance the reach and effectiveness of Swingtide's products and services. Its development of enterprise administration services throughout the last decade has made CSC a primary source of XML transactions and workflow processes. This alliance will bring clients next generation technology and resources who both understand their industry and can help them get started with XML and Web Services."

Carreau continued, "CSC's long-standing experience in business process outsourcing operations gives us key insights into how to build, operate and monitor new business and workflow transaction systems. Together, CSC and Swingtide are developing industry-based solutions that take advantage of distributed technologies supported by Web Services and XML. These solutions will address specific challenges our financial services clients face in modernizing their infrastructure and applications."

About CSC

Founded in 1959, Computer Sciences Corporation is a leading global information technology (IT) services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.

With approximately 92,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $12.1 billion for the 12 months ended July 4, 2003. For more information, visit the company's Web site at www.csc.com.

About Pequot Capital

Pequot Ventures is the direct venture investment arm of Pequot Capital Management, Inc. and has a direct investment focus on today's most dynamic startup, growth stage and later-stage companies in the technology, telecommunications and healthcare sectors. Pequot Ventures creates value by bringing energy and substantial industry expertise to its portfolio companies through the collective intellectual capital, deep operating experience and extensive network of its investment team. The firm leverages its unique multi-billion dollar presence across both public and private equity markets to help build competitive, sustainable businesses in fast changing environments throughout their lifecycle. Pequot Ventures accomplishes this goal in close partnership with the founders and management teams of its portfolio companies. For more information, please visit www.pequotventures.com.

About Swingtide, Inc.

Founded in 2001 with backing from Pequot Ventures and private investors, Swingtide is developing software and services to help businesses understand and monitor XML. Swingtide's industry approach is focused on building solutions that directly address the XML challenges faced by Insurance, Banking and Healthcare companies. Based in Portsmouth, New Hampshire, Swingtide's top-flight team of software developers, vertical industry experts and professional services staff have years of experience in both building scalable and reliable software and in providing world-class expertise. Web site at www.swingtide.com.