RUTHERFORD, N.J.--(BUSINESS WIRE)--Dec. 23, 2003--AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced that Thomas Cook, a major UK Tour Operator, has signed an agreement to pilot AXS-One's new AXSPoint(R) electronic invoice delivery service to travel agents.

The new AXSPoint service, which has been approved by the Civil Aviation Authority (CAA), a UK regulatory body for use by tour operators holding an Air Travel Organiser's Licence (ATOL), will eliminate the need for tour operators to issue hard copy invoices to travel agents, thereby providing tour operators such as Thomas Cook Holidays with potential savings of up to 80 percent on their annual invoice distribution costs.

For travel agents involved in the Pilot program, invoices will now arrive electronically on the same day as dispatch. The AXSPoint service will offer travel agents the ability to automatically match and reconcile invoices to bookings, thereby reducing administration costs and allowing quicker turn-around of invoices to the agent's customer.

"The AXSPoint service will significantly enhance the service we provide to our travel agent customers and the service they provide their customers in turn," commented Manny Fontenla Novoa, Chief Executive Officer, Thomas Cook (UK). "The speed and efficiency of electronic distribution will reduce our costs considerably while benefiting agents and customers alike."

Commenting on the development, Mark Donkersley, Managing Director, AXS-One UK, said: "While Thomas Cook is the first tour operator to pilot this system, we are receiving strong interest from other tour operators and travel agents. The issuing of paper invoices has been expensive to tour operators and agents alike in terms of money, time and customer service. Today, this activity costs the regulated tour industry over $25 million per year and we are currently working with the leaders of this sector to bring them on board our system. By providing these services electronically, and securely, we save them a considerable amount of money, while at the same time adding value to each part of the distribution chain and generating recurring revenue streams for AXS-One."

The AXSPoint e-invoicing solution is based on AXS-One's intelligent self-service technology and is being offered to all tour operators in the UK as a hosted service operated from a secure location in London. All confirmation invoices and related documents issued by the participating operators will be archived in a central vault and delivered electronically to UK travel agents on a same-day basis.

Prior to the development of the AXSPoint service, UK tour operators were required by the CAA to issue hard copy invoices to travel agents and clients, which in 2002, amounted to approximately 28 million physical invoices. AXS-One has worked closely this year with tour operators, travel agents and the CAA to design a system of electronic invoicing that meets the requirements of all parties.

John Rade, President and Chief Executive Officer of AXS-One, Inc., commented: "This is the latest of our hosted transaction-based offerings and follows hosted offerings in Australia and South Africa. This is a natural for us and takes advantage of the process management improvements inherent in our AXSPoint products. Transaction based hosted offerings provide highly predictable revenue streams over periods of several years. They are an excellent complement to our traditional upfront licence fee model. Additionally, this offering provides a real win for the tour operators allowing them to provide enhanced services to their customers at lower costs to them - it is a true 'win-win.' This is what the sensible use of Information Technology is all about."

About AXS-One:

AXS-One 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 the global 2000. 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.

This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission.

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.

CONTACT: AXS-One Inc.
Bernard Cassidy, 201-372-6231
bcassidy@axsone.com

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