Severa Honored in Sixth Annual International Business Awards

NEW YORK, NY, Jul 13 (MARKET WIRE) --
Severa Corporation, a developer of leading project management tools for
professional services automation (PSA), announced today that the
company's PSA software Severa 3 was named a finalist in the "Best New
Product or Service in Computer Software" category of the sixth annual
International Business Awards. Severa was also nominated a finalist in
"Most Innovative Company of the Year in Europe" category.

The International Business Awards are the only global, all-encompassing
business awards program honoring great performances in business. Honorees
were selected from more than 1,700 entries received from organizations and
individuals in more than 30 countries.

"It's an honor to be named an International Business Awards finalist in
two different categories alongside global leaders including Cisco and
Salesforce.com," said Ari-Pekka Salovaara, CEO of Severa Corporation.
"We're being recognized for our growth, product innovation and our
service's significance to small- and medium-sized professional services
organizations worldwide."

A number of different factors led to Severa's nomination as a finalist in
two different categories. Severa 3 is a SaaS application to manage
customers, projects, time and billing all within a single tool. It is used
by professional services organizations that want to improve their work
flow and reduce revenue leakage. Severa 3 has a revolutionary one-click
methodology allowing single-click access to the most commonly used
functions such as adding customers, entering work hours or running
reports.

Severa 3 was launched into the global market in April 2009 and after three
months garnered more than 2,500 users from 90 countries.

Severa supports organizations in their fight against the global recession
by offering every company a complimentary single user license with no time
limitation.

"Despite the harsh economic climate, entries to the IBAs actually grew a
bit this year, and that illustrates the increasing importance of The
International Business Awards worldwide," said Michael Gallagher,
president of The Stevie Awards, presenters of the IBAs. "We congratulate
all of the honorees, and we look forward to recognizing them for their
achievements at our gala awards dinner in New York on September 14."

Severa predicts its growth to continue for the rest of 2009, as small- and
medium-sized organizations look to increase efficiency and optimize
existing resources. The Severa application is a perfect tool for ensuring
profitability, as it simplifies project management, automates billing
processes, optimizes resource utilization and eliminates leakage and lost
revenue opportunities.

About Severa

Severa Corporation is a leading provider of SaaS-based professional
services automation designed to take the pain out of project management
for small- to medium-sized businesses. Severa 3 is offered as an online
application for verticals such as advertising agencies, IT, consulting,
law firms, engineering houses and architecture firms. Severa enables its
customers to manage customers, projects, work time and billing more easily
and efficiently with one system. Severa's transparency into project data
helps communicate business objectives, optimize resource allocation and
reduce revenue leakage. Severa has received the Red Herring Global 2008
Winner Award. For more information on Severa Corporation visit
www.severa.com.

About The Stevie Awards

Stevie Awards are conferred in four programs: The American Business
Awards, The International Business Awards, the Stevie Awards for Women in
Business, and the Stevie Awards for Sales & Customer Service. Honoring
companies of all types and sizes and the people behind them, the Stevies
recognize outstanding performances in the workplace worldwide. Learn more
about The Stevie Awards at www.stevieawards.com.

All trademarks contained within this press release are the sole property
of their respective owners and are hereby acknowledged.

Severa Press Contacts:
USA:
Victor Cruz
Principal, MediaPR.net
vcruz@mediapr.net
Tel: +1 (401) 349-3369

Finland:
Karoliina Caforio
Severa Communication Manager
pr@severa.com
+358 45 127 5352

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