Traction Software Short-listed as a Finalist for the “Red Herring 100 North America” Awards

The most-promising technology ventures will be honored at the Red Herring Spring 2006 CEO Summit

Providence, RI – April 5, 2006 — Red Herring announced that Traction Software has been short-listed as one of the top 200 contenders for its annual "Red Herring 100 North America" list. Well over 1,000 privately held technology companies submitted to this year’s edition of the prestigious award, giving evidence to the invigorated innovative and entrepreneurial strength of the technology ecosystem.

High-quality companies"We can see the resurgence of the tech sector reflected in the quantity and variety of excellent companies that we had to chose from in putting our list together,” said Joel Dreyfuss, Editor-in-Chief of Red Herring. “It was difficult to choose the 200 finalists and we are very happy with the stellar quality of the companies on this short-list." “We are thrilled to once again be selected as a finalist for the Red Herring 100 Award,” said Greg Lloyd, CEO and Founder, Traction Software. “Red Herring truly understands the excitement of building a company around a great, transformative idea, and it’s exciting to get recognition from such a respected source. We are honored to join such a distinguished list of companies making a difference in the world of technology.”

More than just buzz The “Red Herring 100 North America” award is an important part of Red Herring’s tradition of recognizing new and innovative technology firms and their entrepreneurial founders. Traction Software and the other nominees were rigidly evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem. This unique assessment of potential complemented by a review of the actual track record and standing of a company allows Red Herring to see past the “buzz” and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.

Bringing together the best As part of this tradition to honor innovation and entrepreneurship in the business of technology, Red Herring will again host “Red Herring Spring,” a two day invitation-only summit for the CEOs and founders of the Red Herring 100 winners and finalists in Monterey, California. The summit's C-level attendees will convene under the theme “The Pursuit of Disruption” to discuss major trends and opportunities and to explore partnerships, alliances, investments, and M&A activities. Further information regarding the event and how to register is available at http://www.herringevents.com/rhspring06.

About Traction Software

Traction Software provides business and government organizations with enterprise weblog software that allows groups and teams to communicate more effectively. Traction’s easy to use TeamPage™ software creates a secure communications hub for business information and working communications that collects, organizes, links and shares sources of information in context over time. TeamPage is used for business applications ranging from product development and project management to marketing field communication, competitive intelligence, and sales. Traction Software has been named one of the 100 Companies that Matter by KMWorld and is a winner of the RedHerring 100 and eContent 100 awards. The company distributes its products directly and through global partners. Based in Providence, Rhode Island, Traction Software is a privately held corporation with financing from investors including In-Q-Tel and Slater Interactive. For additional information, visit Traction at www.tractionsoftware.com/.

About Red Herring

Red Herring is a sophisticated insider’s guide to the business of technology, featuring unparalleled insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment. Red Herring reports on how innovation and entrepreneurship are transforming business and how the business of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets. Recognized as an essential resource in today’s fast-changing business world, Red Herring gets the right answers before anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at http://www.redherring.com/.

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Contact:

Jen Revis Snider
Red Javelin Communications, Inc.
(617) 795-0798
jen@redjavelin.com