September 2000
CONFIDENTIAL Slide 1 © 2000 – iRapid - gobrador@irapid.com

• Vision and Mission
• Corporate Values
• Management Team
• Methodology
• Growth Strategy
• Customer Value Proposition
• Expertise
• Opportunity
• Financials
• Execution
• Summary
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 2

• Our Vission:
“Become the market leader in system analysis and development, focused in high-technology practices and through a virtual teaming approach, for the Americas,
Europe, and Asia, by employing high ethical and business standards, providing our customers with unparalleled quality products and services, offering attractive opportunities to our employees and business partners, and participating in the development of the communities in which we operate”.
• Our Mission:
“Provide highly qualified technical people and unmatched services in all phases of the system development lifecycle”
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 3

• Relentless focus on quality
– Our driving principle is to provide our clients with best-of-class services, second-to-none in the industry.
– Our commitment to continuous improvement via investments in research and development and partnerships with only leading academic institutions enable us to provide results even for the most complex projects.
• Attracting, developing, and keeping the best people and business partners
– World-class salaries, stock option programs, long-term career path, continuous training
• Help the local economies to retain their people
• Integrity
• Honesty
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 4

• Gabriel Obrador, CEO
– Accomplished executive and entrepreneur, with experience in building and leading companies of billions in revenues, as well as creating and launching several Internet ventures. Proven M&A experience closing operations for $3 billion in 3 years for a Fortune 500. Graduate degree from MIT/Sloan, UBA.
• Luis Blando, COO
– Experienced engineer and entrepreneur, with a solid background in software technologies and business strategy, having worked for leading US companies in architecture and systems development in leadership roles. Graduate degrees from MIT/Sloan, Northeastern, UNLV, and CUC.
• Ravi Ravindra, CTO
– Extensive experience as a software architect with cutting edge technologies, leading teams for different US clients in the areas of Internet software systems development. Graduate degree from Worcester Polytechnic Institute.
• Daud Sharif, Technology Advisor - Quality Assurance
– With more than 20 years of experience as software engineer and security architectures, he specializes in Q/A design and test strategies. Graduate degrees from Ohio Inst. of Tech., Univ. Tech. and Eng., Lahore, Pakistan.
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 5

• Gustavo Bottan, Chief Marketing Officer
– Strategic thinker with operational experience in IT projects. In-depth business strategy and sales & marketing expertise in several multinational companies.
Graduate degree from MIT, UBA and Sweden Inst. Tech.
• Daniel Chain, CFO
– With 20+ years of experience in executive positions, he has led investment funds. Leader in the Business community, he is a Member of the Natl. Quality
Award Committee for Argentina. Graduate degrees from UBA, Argentina.
• Alfredo Poncio, General Manager – Latin America
– As a Director of Information Technology for large private and government institutions, he has more than 10 years of experience in managing IT projects and groups. Graduate degrees from CEMA and CUC, Argentina.
• Srini Vasan, Technology Advisor - Knowledge Management
– Accomplished software architect since 1989, having worked for Digital
Equip.Corp., Avid Technology, and Computer Corp. among other firms.
Graduate degrees from Indian Institute of Tech., Madras, India
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 6


© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 7

PM runs the project from start to finish.
Responsibilities include time & cost estimation and control, interfacing with the customer, and preserving the morale. They defer to the Architect in technical matters
The Architect is engaged early on in the process, and drives the technical aspects throughout. Works in tandem with the PM and defers to him the day-to-day managing, concentrating instead on technical excellence and mentoring the resources.
A development cell is a self-sustaining group of developers which can do both design and build for a subsystem. The technical lead is capable of communicating on par with the architect, able to design and mentor junior team members.
These technical leads are future architects.
Technical Lead
(Cell 1)
Project
Manager
Technical Lead
(Cell 2)
Architect
QA Lead
(for project)
© 2000 – iRapid - gobrador@irapid.com
Engineer (x6) Engineer (x6) QA Eng. (x6)
This project is big enough for two cells. All projects need a QA cell, staffed to ½ of development effort.
CONFIDENTIAL Slide 8

(*)
The sales organization identifies a potential project, engages the project manager, and identifies a possible architect. Performs back-of-the-envelope feasibility study to determine if this is an opportunity worth pursuing.
The PM, the
Architect, and possibly some of the Tech Leads in the project team
Execution
(*) Simplified overview
System deployed
Sunset report
Identification
Definition work with client to define scope and requirements of the work, as well as the tech leads and cells develop and test.
High level architecture
Requirements document
Critical Success Factors high-level architecture.
Estimate of effort and competencies required
PM keeps control,
Architect + Tech
Leads design, architect moves on,
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 9

Identification Definition Execution
0 2
WEEKS
6 16-26
CLOSE CLIENT INTERACTION OFF-SHORE TEAM ENGAGED
Sales & Marketing
Project Manager
© 2000 – iRapid - gobrador@irapid.com
Tech. Leads
Engineers
CONFIDENTIAL
Architect
Slide 10

• Positive-feedback organic growth. That is, train the trainers
• Aggressive partnering with academic and research institutions
• World-class compensation
• Jump-start with very senior people to get pipeline in place
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 11

Updated Base
Curriculum
Post Graduation
Training iRapid
Methodology
Sr. yr
3-6 mos
3-6 mos
• Currently developing, in conjunction with academia, updated curricula in latest technologies (i.e. J2EE, XML, UML)
• Training class in latest tools, technologies, and
“practices from the field”, jointly sponsored and taught by iRapid and local universities. Selective entry into the class, tuition to be collected by university and to be used to fund their standard curriculum enhancements (above). Successful completion of training program guarantees a position within the iRapid family.
• As an iRapid employee, incubation period in our cell-based development methodology, exposure to different projects, and update on our virtual software development tools.
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 12

• Collaboration arrangements with:
• MIT, Cambridge, USA
• Sri Jayachamarajendra College of Engineering, Mysore, India
• University of La Plata, La Plata, Argentina
• Catholic University, Buenos Aires and Cordoba, Argentina
• National Technology University, Argentina
• Aggressively expanding strategic allies
• Early identification and recruitment of high-potential iRapid family members and business partners
• Centers of excellence to develop intellectual capital, ready to be tapped into for the most complex problems
• LIFIA, La Plata, Argentina
• Manasa Internet, Bangalore, India
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 13

• iRapid’s founding vision is to become a referent for excellence in systems development
• In order to provide world-class value, and compete globally, we need to attract the best talent
• Plus, our organic growth is predicated on the preference of many of our foreign engineers to remain in their countries, fueling their economies and consequently iRapid’s growth. Competitive compensation is a big enticement to stay
• Furthermore, it’s the only moral thing to do…
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 14

In order to establish our pipeline, and be able to absorb the fresh graduates in time, we need to jump-start our organization by running our initial pilot projects with very senior personnel, therefore increasing our lead-toarchitect ratio and consequently our cell count and corporate muscle for taking more projects.
For example, the following is the profile of some of the people in one of our pioneering teams in Argentina…
- Cell lead: tenured professor of leading university and MIS of the city’s largest newspaper, 12+ years of experience in industry and academia, experienced manager in the information technology sector
- Engineer 1: Best-in-class independent consultant with 10+ years of experience. Architected and led several projects in engagements for
IBM, Coca Cola, Motorola, and others.
- Engineer 2: assistant professor in leading university, experienced consultant with engagements in top companies.
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 15

Advisory board member or academic / industry partner.
iRapid founding and mgmt team
Initial “senior pioneers” or experienced hires.
School graduates.
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL
Time 0: senior pioneers in each country, led by the architects in iRapid’s foundational team, engage in pilot projects. At the same time, arrangements are being made to start training the upcoming seniors from school and to put the virtual development tools in place. Substantial help from our advisory board and our strategic allies in academia and industry.
After successful completion of pilot projects, our senior pioneers have an excellent chance of having graduated to architects and thus are ready to receive the influx of graduates.
Slide 16
This process slows down a bit after the first few iterations (i.e. after exhausting the experienced people in the marketplace) but maintains a healthy steady state.

Revenues
Employees
6000
5000
4000
3000
2000
1000
0
2000 2001
2002 2003
2000
4.0
40
2001
71.2
638
Revenues
2002
391.3
3,106
2003
848.6
5,602
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 17

• Technology enables this new virtual way of working
• Intellectual capital becoming prevalent source of economic development and highly portable asset
• Software development is crucial to modern society and it is done today in an “artisan” manner. Thus, tremendous room for improvement through more standardized methodologies
• Shortage of quality software developers in developed countries will be larger than 1 million SDW this year
• Trends for increased need will continue
• Immigration is not the solution for developed countries, and negatively impacts source countries (brain drain) iRapid’s virtual teaming methodology, personal contacts and strategic alliances in the Computer Science field
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 18

• Scarcity solution
• Sound systems architecture
– reduce time-to-market, improve product’s quality, mitigate risks
• 7/24 & dual development increase time-to-market
• Allow strategic customers to increase reach & augment capacity flexibly
– higher development footprint, hands-off increase in capacity, no hiring, more flexible organization
• Increased quality
– QA-to-development 1-1 ratio now becomes possible
– iRapid is a Quality-centric organization
• NOT price advantage
• Full outsourcing solutions and system development
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 19

• Our core capabilities are in the following service areas:
– Consultancy services focused in software analysis, design and development, product porting and customization, integration and testing activities.
– Web and WAP technologies, doing design, architecture, and build
– Enterprise Application Integration
– Data Networks (data communication protocols, network device drivers, network applications and VOIP)
– Client-Server Applications (front-end GUI development, COM interfaces, database design & mgmt. at the server end)
– Quality Assurance design and testing
• Local market knowledge (India, Pakistan, and Latin America)
– Off-shore Project Development and Dedicated Centers
• Training in cutting-edge technologies, and empowering our people across the value-chain through R & D
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 20

ACTUAL NOPAT (Net Oper. Profit After Taxes)
Total Revenue (MMUS$)
Total HR expense + Non durable Assets (MMUS$)
Free Cash Flow
NPV (MUS@30%)
Initial
2.3
3.8
0.1
-2.4
326.0
2001
-0.1
4.0
3.9
-1.1
2002
4.4
71.2
63.0
10.5
2003
48.0
391.3
311.3
41.9
2004
172.9
848.6
572.8
236.8
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 21

• Immediate
– One pilot project, cross-sell opportunity
– Business development with potential clients
– Operational development through the definition of iRapid’s operative methodology –in conjunction with our centers of excellence and strategic partners-, training (for future graduates), and logistics (offices, administrative, legal)
• In two months
– Engage dormant resources (now working on methodology) in more pilot projects, use this to gauge potential hires
– Operations are officially launched
• In six-ten months
– Human resources growth through hiring top performers
– Scaling by identifying team leads and staffing from schools (with people that have gone through our predefined training)
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 22

• Strong management team with unique advantages
– Proven business and management track record
– Domain-matter expertise
– Strategic leverage through personal networks
• Substantial market opportunity, fueled (but not dictated) by the current scarcity
– Scarcity comes in handy to jump-start our company, getting paid projects from the get-go
• Quality focused, not a body shop, from architecture down
– Our competitive advantage, and the only solution for a true
“worries-off” consulting engagement
• Exclusive arrangements with best institutions
– In order to guarantee a flow of qualified applicants, thus enabling scalability and growth
© 2000 – iRapid - gobrador@irapid.com CONFIDENTIAL Slide 23