Released on = May 7, 2007, 12:10 am

Press Release Author = Nirmala Dsouza/Oak Consulting

Industry = Software

Press Release Summary = The new joint venture entity, called Paragon Consulting
Middle East (PCME), will provide cutting-edge Business Performance Management
solutions, consultancy and implementation services to companies throughout the
Middle East region.

Press Release Body = Dubai, United Arab Emirates, May 7th, 2007: HSME, the master
Distributor of Hyperion Solutions in the Middle East, and UK-based Paragon
Consulting Group, a leading provider of full life cycle services for Performance
Management, today announced that they have signed an agreement to form a new joint
venture company in the Middle East. The new entity, called Paragon Consulting Middle
East (PCME), will provide world-class Performance Management solutions, consultancy
and implementation services to organizations in the Middle East region.

Speaking on the joint venture, George Khouri, Managing Director of HSME, said, \"With
the Middle East market quickly starting to realize the importance of Business
Performance Management, we at HSME realized the need to identify and ally ourselves
with a leading organization in the Performance Management space that has the domain
knowledge and the implementation expertise to address the growing market needs.
Paragon Consulting Group was a clear choice for us. Paragon is a leading European
Performance Management consultancy organization that enjoys a long-standing
reputation of being one of the leading and most respected Performance Management
specialists in the world. They are also one of Hyperion's largest implementation
partners in Europe. We are happy to team up with Paragon Consulting to offer our
Middle East customers specialized consultancy and implementation services in areas
such as financial consolidation, planning and forecasting, budgeting and information
delivery. This joint venture offers exciting opportunities for both HSME and Paragon
Consulting and will bring significant benefits to our customers.\"

Paragon Consulting Group provides Performance Management consultancy services,
project management, application implementation and application management of high
performance and resilient Performance Management solutions. HSME, Hyperion\'s master
distributor in the Middle East, provides Hyperion's best-of-breed Enterprise
Performance Management solutions to customers throughout the Middle East. This joint
venture will bring together Paragon Consulting\'s resources and expertise in
Performance Management and HSME\'s wide reach and vast network of partners and
customers in this region. In addition, Paragon Consulting\'s membership in BPM
International, will also provide Middle East companies with access to Europe's only
integrated Performance Management consulting network, whose staff are leading
practitioners in the processes, methodologies and systems that are needed to create
high performance and reliable Performance Management solutions. This brings even
greater value to companies that are seeking to implement successful Performance
Management solutions across a multinational organization.

\"We see this joint venture as a very important strategic step in Paragon Consulting
Group's growth. The Middle East region is one of the fastest growing and most
dynamic markets in the world and is rapidly becoming home to several globally
recognized multinational corporations in addition to many internationally expanding
local companies. We believe that these organizations need local access to
experienced Performance Management consultants who are fully aware of the reporting
needs of multinational groups, both from an external reporting perspective and an
internal Performance Management perspective. The market demand and opportunities for
Performance Management consultancy in the Middle East are significant and HSME
represents a partner with its roots firmly established in the region and with a
presence throughout the Middle East,\" said David Jones, Director at Paragon
Consulting Group.

\"HSME also has an impressive track record of delivery. We share the same values,
especially our endless drive to deliver high quality and value added solutions and
services to our customers. This makes Paragon and HSME an excellent match as
strategic and long term partners for providing Performance Management consulting
services in the region. We look forward to working together with HSME and providing
a full range of Performance Management solutions and services to the region," Jones
added.

The new joint venture company, PCME, will focus on helping companies in the Middle
East to benefit from Business Performance Management solutions and implement best
practice processes. PCME will cater to customers in the UAE and GCC markets and will
look at expanding their services to other growing markets across the wider Middle
East and into the Indian sub-continent in future.

About HSME
HSME is a UAE based that has been serving the Middle East Market for around 4 years.
HSME is committed to providing the highest quality representation of Hyperion in the
region and is currently the master distributor of Hyperion in the Middle East
focusing exclusively on selling and supporting Hyperion solutions. Through its main
offices in Dubai and a wide network of resellers, HSME serves a wide range of
customers throughout the region and provides sales and technical services in the
areas of Business Intelligence and Enterprise Performance Management (EPM). EPM is a
term that describes all of the processes, methodologies, metrics and systems needed
to measure and manage the performance of your organization and covers critical
business processes such as strategic planning, budgeting, forecasting, consolidation
and reporting. For more information, please visit www.hyperion-me.com

About Paragon Consulting
Paragon Consulting is a leading provider of full life cycle services for Performance
Management. Its services range from defining a Performance Management Roadmap
through to project management, implementation and application management services.
The depth and focus of its Performance Management application skills are
unparalleled and enable it to command a leading presence within the Performance
Management sector. These application skills are supplemented with finance,
information technology, business and process domain expertise. It is this holistic
skill set combined with a passion for excellence, dedication and focus to its global
clients which truly creates sustainable value. Paragon Consulting Group was a
founder member of the Performance Management International Network. For more
information, please visit www.paragonbpm.com



Web Site = http://www.hyperion-me.com

Contact Details = Nirmala D\'souza
PR Consultant
OAK Consulting
Tel: +971507343840
Email: nimi@oakconsulting.biz