[announce] Arbortext Secures $8.75 Million in Expansion Funding

[Beth Ambaruch <bea@arbortext.com>]

Arbortext Secures $8.75 Million in Expansion Funding

Investors include GIC Special Investments, Norwest Venture Partners,
INVESCO Private Capital and North Coast Technology Investors

ANN ARBOR, Mich., March 17, 2003 -- Arbortext, Inc., the leading global
provider of XML-based software for content creation, editing and
multichannel publishing, today announced that it has completed an equity
financing round where it has secured $8.75 million in expansion funding.
The round was led by GIC Special Investments, a member of the Government
of Singapore Investment Corporation  (GIC) group of companies, and with
continued support from Norwest Venture Partners, INVESCO Private Capital
and North Coast Technology Investors.  The proceeds from the funding will
be used by the company to accelerate the expansion of its worldwide sales
and marketing efforts.

“We are extremely pleased to have GIC Special Investments as an investor
in Arbortext and we welcome the opportunity to work with them as we seek
to expand our sales and marketing presence worldwide and particularly in
Asia,” said Raymond Schiavone, President and CEO of Arbortext.  “In
addition, the continued support from our core investors is a testament to
our strong operating performance in 2002 and the tremendous momentum we
have entering 2003.”

“We believe Arbortext offers global organizations the unique capability to
dramatically reduce costs and time to market by implementing XML-based
content publishing solutions,” said Chih Tsung Lam, Executive Vice
President for GIC Special Investments.  “Arbortext’s proven management
team, leading technology platform and strong financial performance
positions them well for continued success.  We are excited to be working
with them as they strengthen their leadership position in this rapidly
growing market.”

According to a recent study by market research firm Gartner, the XML
publishing market will be over $2.5 billion by the close of 2003 (The XML
Publishing Challenge: Overcoming the barriers and fulfilling the promise
of XML for enterprise-level content management).  Arbortext’s Epic
software provides multichannel publishing capabilities that capture all
types of information into a single XML source and automatically customizes
and publishes that information to all types of media. Epic reduces costs
through reuse and automation, enhances the customer self-service
experience by delivering dynamically assembled, individually tailored
information, and integrates multiple departments for greater consistency
and less redundancy.

"We are big believers in the XML revolution that is underway, and
Arbortext is uniquely positioned to capitalize on this large market
opportunity that is critical for today's Global 2000 businesses," said
Promod Haque, managing partner, Norwest Venture Partners. "We continue to
support Arbortext because the company keeps exceeding its revenue
milestones and demonstrates significant growth each quarter. Led by an
experienced management team, we have tremendous confidence in Arbortext
and the strong value proposition the company and its complete suite of
products bring to enterprises."

About Arbortext
Arbortext is the leading global provider of XML-based software for content
creation, editing and multichannel publishing.  Arbortext’s software is
installed at over 1,300 organizations worldwide. Current customers include
American Express Financial Services, Audi, Boeing, Bombardier, British
Aerospace, Caterpillar, DaimlerChrysler, Ericsson Telecom, Ford, General
Electric, GM, IBM, International Thomson Publishing, Lucent, Nokia, Nortel
Networks, PeopleSoft, Pfizer, Ricoh, Sun Microsystems, Toyota, United
Airlines, Volkswagen, and Volvo. Arbortext is a founding member and active
participant in the XML Activity of the World Wide Web Consortium (W3C).
Headquartered in Ann Arbor, Michigan, USA, Arbortext has offices around
the world.  For more information please visit http://www.arbortext.com.

About GIC Special Investments
GIC Special Investments is the private equity arm of GIC, a global investm
ent management company established in 1981 to manage Singapore's foreign
reserves. With a network of five overseas offices in key financial
capitals around the world, GIC manages a portfolio of over US$100 billion,
in equities, fixed income, money market instruments, real estate and
special investments.  GIC Special Investments is among the world’s largest
investors in private equity. It is an active investor in private equity
funds and direct investments in the US, Europe and Asia.
# # #

Contact: 	Beth Ambaruch, APR		David Stone
	  	Arbortext, Inc.			Ketchum
	  	+1 734.327.6014			+1 312.228.6967
	 	bea@arbortext.com			david.stone@ketchum.com

		Press room:  http://www.arbortext.com/html/press_room.html


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