ATLANTA - May 10, 2004 - Oversight Systems today announced the formation of its advisory board of accounting thought leader Dana R. Hermanson, Ph.D., and veteran fraud examiners David Sawyer and David Wolfe.

As domain experts, the advisors play a key role for Oversight Systems, which provides industry's first continuous transaction incident monitoring system to tackle the threats from authorized users performing inappropriate transactions. Oversight's patent-pending system monitors enterprise financial systems to detect, prevent and deter financial loss from systems-based fraud, misuse and errors.

"The board of advisors assists Oversight to shape product development as we implement the best practices of auditors, fraud examiners and IT security into the Oversight solutions," said Patrick Taylor, CEO of Oversight Systems. "With automated analysis of all transactions within a financial system, Oversight incorporates the latest developments in audit techniques, fraud examination and corporate governance."

Dr. Hermanson is a professor of accounting in the Coles College of Business at Kennesaw State University, a research fellow of the Corporate Governance Center at the University of Tennessee and a recognized thought leader whose research has influenced policy for the Securities and Exchange Commission, NASDAQ and the New York Stock Exchange. Hermanson is also a co-founder of the Corporate Governance Center at Kennesaw State.

Sawyer is founder and president of DTS Forensic LLC, a financial consulting firm that specializes in forensic accounting, financial investigations and litigation support. As a Certified Public Accountant, Certified Internal Auditor and Certified Fraud Examiner, Sawyer has worked with forensic accounting units of the Big Four accounting firms to conduct dozens of corporate fraud investigations, forensic internal reviews, financial statement assurance audits and internal controls design.

Wolfe is the founder of Glasgow Forensic Group, a leading provider of forensic accounting, fraud prevention and investigation services. Previously with Big Four forensic accounting and audit units, Wolfe is a CPA and has 20 years of experience in areas related to the integrity and accuracy of financial reporting, theft or misuse of corporate resources, fraud and corruption, internal controls, risk assessments and corporate governance.

"Given the intense focus on corporate governance, sound internal controls and fraud prevention, I am excited about Oversight Systems' commitment to helping companies monitor transactions in real-time and reduce internal fraud and abuse," Hermanson said.

About Oversight Systems, Inc.
Oversight takes continuous monitoring to the next level by combining an audit data warehouse, advanced analytics and workflow into a single, integrated, application. By inspecting each step of individual transactions across systems, Oversight identifies errors, control violations and fraud to drive higher levels of performance and compliance. Oversight's platform automates the entire life cycle finding problems in business processes, fixing those problems and proving the problems were resolved. Oversight is the solution of choice for those CFO's, CIO's and CISO's serious about compliance and enhancing their financial performance. For more information, visit www.oversightsystems.com.

Contact for Oversight Systems: Donna Askew sales@oversightsystems.com 770.984.4650

Press Contact Nathan F. Walch nathanw@connectpr.com 801.373.7888