OILspace Strengthens Global Sales Team, Readies For Further Growth.

London, March 9, 2006

OILspace®, www.oilspace.com, a leading provider of real-time, on-demand supply chain management and market information applications for energy companies - has taken the next step in its ambitious growth plans by naming two new vice presidents of sales.

Amir Kazmi is promoted to SVP of global sales from his previous position as VP of sales in EMEA. He takes on worldwide responsibility at OILspace as the company moves to build new strategic partnerships and further strengthen its supply chain management offerings. Formerly Amir Kazmi was with supply chain management and business-to-business specialist i2 Technologies, where he helped build i2's presence in the Process Industry sector and in particular in the Global Energy, Petrochemicals and metals industries in his five years there.

With almost 20 years experience in both software and consultancy businesses, Amir Kazmi also worked at Oracle and Aspect Development where he focused on building new business in the oil and energy sectors, and with leading firms Ernst & Young and Price Waterhouse.

Kishor Sujanani joins as VP of sales for the Asia Pacific Region. Also formerly with i2 Technologies, he built the Asian business for the company's downstream oil business unit. He brings to OILspace more than 20 years of enterprise software sales and business management experience. Prior to joining i2, he was the regional director S.E. Asia and India for Aspen Technology, a leading oil and petrochemicals industry software solution company.

Both men will play a vital role in the future plans of OILspace according to the company's president and CEO Steve Hughes: "As we grow our supply chain management business internationally, it's vital the market understands the locked-in value that OILspace solutions can liberate from supply chains. Amir and Kishor have the experience and presence to do just that."

About OILspace®:
OILspace is a leading global provider of real-time on-demand, web-based applications for oil, gas and petrochemical marketing and supply operations. Launched in 1999, OILspace solutions now run through over 400 companies of all sizes and roles within the energy supply chain. OILspace has a proven track record for delivering scalable solutions that produce measurable returns-on-investment (ROI).

OILspace applications include OILwatch, the real-time and historical market data portal with analytical tools, and news and prices from global industry exchanges and media sources. OILwatch is flexible and mobile and fully accessible via any internet enabled device, including workstation, laptop, Pocket PC, PDA and BlackBerry devices. ASPect Office®, a suite of integrated front and mid-office applications, solves supply chain challenges, and links operations, processes and data across multiple offices and assets. It provides management with visibility and the tools to measure, manage, monitor and improve business through performance metrics. TeamWorks® makes oil transactions and distribution easier, more efficient and more profitable for the shipping community. Integrated oil companies, traders, charterers, fleet owners and brokers collaborate to maximize results.

Contacts:

OILspace US/ Canada
Brigette Gebhard
bgebhard@oilspace.com
+1 732 797 0046

EMEA PR Agency
Sage Partnership
info@sagepartnership.com
+44 1189 344007

OILspace Asia-PAC
Kishor Sujanani
ksujanani@oilspace.com
+86 21 6122 1075