Oversight Systems Awarded Red Herring Top 100 Global Company for Second Straight Year

Recognized as one of the top entrepreneurial technology companies worldwide

ATLANTA – January 28, 2009 – Oversight Systems, the leader in continuous controls monitoring for transactions (CCM-T) today announced it is a Red Herring Top 100 Global Company.

“We are pleased to announce Oversight Systems as a Red Herring Top 100 Global Company,” commented Red Herring publisher Alex Vieux. “Oversight has proven to be a company excelling in their industry and its ripples have turned into waves. It was difficult for us to narrow down, but we are pleased to have included Oversight in our list of promising companies. We look forward to the changes it will make to its industry in the future.”

Oversight’s continuous controls monitoring for transactions software provides greater transparency in business processes. By doing so, it provides immediate ROI, saving companies millions of dollars through process improvement and eliminating the opportunity for fraud, misuse and error. The software works in conjunction with a variety of ERP systems including Oracle (ORCL), SAP (SAP) and others to automate and continuously monitor business controls for corporate and government procure to pay, general ledger, company card and master data operations.

Oversight Systems President and CEO, Patrick Taylor, commented, “It is an honor to be named a Red Herring Top 100 Global Company for a second straight year and our employees have worked hard to drive this continued success. At the end of the day it is all about our customers being awarded the peace of mind and confidence in the integrity and accuracy of their financial reporting and underlying business transactions.”

Winning and finalist companies from the previous three years from North America, Europe and Asia were eligible for this year’s award. Out of 1,800 eligible companies, the Red Herring editorial team deployed a detailed process to drill-down to the top 100 winners. Evaluations were made on both quantitative and qualitative criteria such as financial performance, innovation, management, global strategy and ecosystem integration. The announcement of the winners was made at the Red Herring 100 Global taking place in San Diego from January 14-16, 2009.

About Red Herring

Red Herring is a global media company, which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Oversight Systems, Inc.

Oversight Systems identifies fraud, misuse and error in business transactions and master data files for some of the world’s largest companies and institutions. Its continuous controls monitoring software harnesses powerful analytics that excel at finding problems, offers an investigator’s workbench for fixing problems, and establishes a workflow-enabled audit trail for proving problem resolution and compliance. Find it. Fix it. Prove it. www.oversightsystems.com