BearingPoint's EPMOne(SM) Methodology Can Help Financial Services Companies Manage Performance and Comply With Basel II Reporting Guidelines

PeopleSoft(R) Enterprise Performance Management Implementation Based on BearingPoint's EPMOne(SM) Methodology at Harris Bank May Become Model for Meeting New Reporting Requirements

MCLEAN, Va., May 18, 2004 -- BearingPoint, Inc. (NYSE: BE), one of the world's largest business consulting and systems integration firms, today announced the availability of the BearingPoint EPMOne(SM) implementation methodology to help commercial banks not only streamline their enterprise-wide strategic and operational processes/measurement, but also can facilitate their compliance with the ongoing New Basel Capital Accord, or Basel II reporting, which requires banks to reflect risk more actively in their capital allocations.

The BearingPoint EPMOne(SM) methodology is BearingPoint's vision and implementation approach for leveraging clients' investments in enterprise resource planning (ERP) and legacy systems to improve return on investment (ROI), enhance timely and accurate information delivery, and improve reporting and corporate governance -- all while increasing efficiency and effectiveness throughout the organization. BearingPoint's EPMOne(SM) methodology is based on the PeopleSoft Enterprise Performance Management (EPM) suite of analytic applications.

"BearingPoint's EPMOne(SM) can help C-level executives provide greater transparency for their own businesses, as well as treat their customers as competitive assets by retrieving information about their operations and performance," said Michael Pugliese, a managing director with BearingPoint. "Managers, investors and regulators have a new perspective on performance and will not tolerate any gaps in financial controls."

One of BearingPoint's first EPMOne(SM) implementations is with Chicago- based Harris Bank, one of the largest community bank networks in Illinois with $30 billion in assets, serving both individuals and businesses throughout the diverse Chicagoland area. The bank needed to upgrade its legacy computer systems to support its rapid growth with a new management reporting system able to automate manual process and improve business decision-making, financial analysis and profitability risk management across the organization.

"Harris Bank now has a web-enabled, multidimensional management reporting system able to electronically calculate profitability and results," said Bill Kragh, a vice president of finance with Harris Bank. "A single, consistent set of quality data also improves financial analysis and decision-making, enabling managers to identify and act on key earnings drivers across all bank products and services.

"Using the single source of data, Harris Bank can conduct multidimensional reporting and analysis across its 2,000 departments, 600 products and 8,000 accounts," said Kragh.

"Simply put, EPMOne(SM) helps increase personal accountability and improve the accuracy of information. A single version of a company's financial information through an integrated architecture and easy access can offer views between business units, products, channels and customers to forecast performance and adjust strategies," added Pugliese.

Pugliese noted that BearingPoint EPMOne(SM) provides all levels of management with the operational and financial information needed to align decision making with organizational and line of business strategies. The BearingPoint EPMOne(SM) and PeopleSoft's flexible and scalable systems architecture can capture, transform and distribute financial and operational data across a company.

As for Basel II compliance, "Basel II continues to send reverberations through the corridors and corporate boardrooms of financial services organizations across the globe," said Jim Gahagan, PeopleSoft's Vice President and Global Industry Executive - Financial Services. "BearingPoint is leveraging PeopleSoft's Enterprise Performance Management suite to enable financial services organizations to turn the apparent obstacle of Basel II into an opportunity for reduced costs, better profitability, and increased competitiveness."

About BearingPoint, Inc.

BearingPoint, Inc. (NYSE: BE) is one of the world's largest business consulting, systems integration and managed services firms serving Global 2000 companies, medium-sized businesses, government agencies and other organizations. We provide business and technology strategy, systems design, architecture, applications implementation, network infrastructure, systems integration and managed services. Our service offerings are designed to help our clients generate revenue, reduce costs and access the information necessary to operate their business on a timely basis. Based in McLean, Va., BearingPoint has been named by Fortune as one of America's Most Admired Companies in the computer and data services sector. For more information, visit the Company's website at http://www.BearingPoint.com.

PeopleSoft is a registered trademark of PeopleSoft, Inc.

This press release may contain forward-looking statements, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-Q. We undertake no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

SOURCE BearingPoint, Inc.

Web Site: http://www.bearingpoint.com

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