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OPIS Acquires AXXIS Petroleum

For more information please contact:

Brian Crotty, President, OPIS
301-287-2488
bcrotty@opisnet.com

Rich Lisauskas, President, AXXIS
603-216-5353
rlisauskas@axxispetro.com 

Rockville, MD, August 12, 2005 -- Oil Price Information Service (OPIS), the nation’s leading provider of petroleum spot, rack and retail news and pricing information, announces the acquisition of AXXIS Petroleum. Based in St. Paul, Minn., AXXIS provides software solutions for petroleum marketers looking to automate their price collection, data storage and repricing of dealer and commercial accounts. AXXIS is also a rack pricing information provider.

 “The addition of AXXIS strengthens our rack price offering and allows us to serve our customers’ needs of price aggregation, build-up and re-pricing through AXXIS’ market-leading software applications,” said Brian Crotty, President, OPIS. AXXIS will remain a division of OPIS and will be run by AXXIS President, Rich Lisauskas. “OPIS’ considerable experience in downstream oil markets will only enhance our ability to deliver quality software and support for our customers,” Lisauskas said. Recognizing that AXXIS rack prices are heavily benchmarked in many reseller and end-user agreements, OPIS will honor all agreements to provide existing AXXIS price feeds and formats to all AXXIS customers.

 “We want to be sure our customers and purchasing agents have adequate time to change their contracts and systems before merging any data feeds,” Crotty said. OPIS (www.opisnet.com) is the only U.S. pricing service that provides proprietary price discovery and news for all spot, rack and retail petroleum markets. OPIS has provided rack (wholesale) prices and news to customers for more than 28 years. OPIS is one of a number of portfolio companies comprising Rockville, Md.-based UCG.

UCG is one of America’s leading providers of business information and software solutions. (www.ucg.com) AXXIS Petroleum is a leading provider of integrated software and market data solutions for the refined products industry. (www.axxispetro.com)  

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