anuboXBRL and UBmatrix Announce Strategic Cooperation in the German XBRL Market

MUNICH, GERMANY- June 4, 2007 -  anuboXBRL GmbH & Co. KG, an XBRL consulting and implementation firm based in Munich, Germany, and UBmatrix, the leading provider of XBRL-based software solutions, today announced they have signed a strategic cooperation agreement.     
"The growth of XBRL is accelerating in part because of the value, control and efficiency XBRL brings to financial information exchange – and in part because of XBRL reporting to entities such as the German Commercial Register," said Bodo Kesselmeyer, president, anuboXBRL.  "This partnership allows us to bring forth the premier XBRL technology to the German market."

In January 2007, the new German EHUG law established an electronic commercial and company register for German companies and divisions of international companies operating in Germany.  Under the law, companies file German GAAP or IFRS reports with the German Commercial Register (or Elektronischer Bundesanzeiger) in XBRL (Extensible Business Reporting Language.)  Many European governments and the European Union Central Banks under Basel II, have adopted XBRL as their required standard for reporting. The United States Securities and Exchange Commission (SEC) is also paving the way for XBRL reporting with the launch of a pilot program.  Previously, German companies listed on a public stock exchange were only to observe the SEC filing program, and could not participate in the EDGAR XBRL pilot filing project.

"XBRL is rapidly becoming the international standard for financial information reporting," said Thomas Reinemer, vice president, business development, UBmatrix, Inc. "Adoption of XBRL reporting by German companies will ease their reporting and financial information exchange requirements both domestically and internationally." 

Increased reliance on XBRL as a reporting standard has generated strong initial interest among German companies in implementing XBRL solutions.  This week, executives from leading global companies will gather to discuss the business value and best practices in implementation of XBRL at the XBRL International Conference in Munich, Germany.  The new German reporting requirements and the German GAAP Taxonomy will be one of the key areas of focus of the conference.

UBmatrix and anuboXBRL will both be presenting at the conference.  Under the agreement, UBmatrix, Inc. will provide its industry-leading XBRL technologies and expertise to anuboXBRL, which will specialize in developing financial processes using XBRL technology for German companies.

About UBmatrix
UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange and reporting.  XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the SEC, FDIC and the European Central Banks. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and regulatory compliance.  UBmatrix is based in Silicon Valley with development centers in Kirkland, WA, and New Delhi, India.  For further information, visit www.ubmatrix.com

About anuboXBRL
anuboXBRL is a young, dynamic company specialized in redesigning financial processes in groups of companies. anuboXBRL develops concepts and implements processes for both companies’ External Reporting, using XBRL, and Internal Reporting. anuboXBRL has its focus on:

1. XBRL consulting, e.g. XBRL innovative solutions and strategical communication potential to analysts and investors.
2. Extending taxonomies company specifically
3. Implementing XBRL technology in internal processes
4. Providing know how transfer through in-house training