RUTHERFORD, N.J.--(BUSINESS WIRE)--May 22, 2003--AXS-One Inc. (AMEX: AXO), a leading global provider of e-business solutions, today announced that it had signed at the end of the first quarter 2003 a license and maintenance contract, and expects to sign a services contract, with a South African government institution.

The total value is expected to be in excess of $1.3 million dollars. The agreement includes licenses for the complete AXS-One(R) Enterprise Suite, AXSPoint(R) Central and Exchange, as well as AXS-One's workflow. The solutions provide a business process centric financial management system and archival and report distribution system with access via the Internet. Revenue recognition relating to this project will occur over the ensuing quarters.

"AXS-One Enterprise will provide a collaborative solution to improve fiscal management and meet governance and other financial reporting requirements," commented John Rade, CEO and President, AXS-One. "Adding this institution to our current list of government clients demonstrates the AXS-One commitment to providing world-class solutions to the services industries. Our ability to implement solutions rapidly utilizing our web services technology appeals to our diverse customer base."

This contract represents another significant milestone in this important vertical market; extending AXS-One's existing relationship with multiple government agencies in South Africa such as the Department of Trade and Industry, Unemployment Insurance Fund, the Compensation Commissioner and the Road Accident Fund.

About AXS-One Inc.

AXS-One (AMEX: AXO) is a provider of supply chain management solutions for service industries that extend the finance function and allow organizations to work collaboratively with their partners, suppliers, employees, and customers while preserving investments in existing systems. AXS-One has implemented high-volume, interoperable, scalable and secure business solutions for global 2000 organizations. Its Web Services based technology has been critically acclaimed as best of class. AXS-One has approximately 250 employees in offices worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is based in Rutherford, New Jersey, U.S.A. For further information, visit the AXS-One web site at http://www.axsone.com.

AXS-One, the AXS-One logo, "Access Tomorrow Today," AXSPoint and TransAXS are registered trademarks of, and e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART and Tivity are trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.

Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: potential vulnerability to technological obsolescence; the risks that its current and future products may contain errors or defects that would be difficult and costly to detect and correct; potential difficulties in managing growth; dependence on key personnel; the possible impact of competitive products and pricing; and other risks described in more detail in AXS-One's Securities and Exchange Commission filings.

    CONTACT: AXS-One Inc. Bernard Cassidy, 201/372-6231
             bcassidy@axsone.com
             or
             Hayden Communications
             Matthew Hayden (IR Contact), 760/487-1137
             matt@haydenir.com

    SOURCE: AXS-One Inc.