IFUL Insightful Corp (MM)

Insightful Corporation (NASDAQ:IFUL), a leading provider of software solutions for analysis of numeric and text data, announced today the company was competitively selected by the U.S. Army Corps of Engineers to prototype and develop a geographic text processing system in a contract worth $780,000. The geographic text processing system will include automated tagging, interactive editing, and visualization. The contract results from a successful initial research and development engagement with the U.S. Army Corps of Engineers earlier in 2005. The geographic text processing system will be based on Insightful's Infact(R), an innovative software product for text analysis. The effort focuses on automating the labor-intensive process of tagging place name information in text files, interactively editing the tagged files, and displaying the tagged text and associated map. The U.S. Army estimates that 80 percent of their data contains spatial reference information in the form of addresses, place names, or coordinates. In order to support spatial analysis of text sources, structured text files with place name tags, containing or referencing coordinate information, are required. While tools exist for automatically identifying place names in text, this effort focuses on significantly improving the current capabilities within the context of an end-to-end system. "In order to effectively replace the work of humans and solve many problems in text exploitation, a text analysis application must satisfy certain quantitative requirements of precision and recall that very few vendors can meet," said Giovanni Marchisio, Director of Research and Development for Text Analysis and Search at Insightful. "Reliable, precise processing of human language has been one of the biggest challenges of knowledge management, one that has prevented the widespread adoption of automated solutions for unstructured data mining in many market spaces where the pain is acute. We have taken a pragmatic approach to the development of InFact(R). Intensive research and development over the years have resulted in a robust and dependable product with the potential to make routine deployment of a text analysis solution in production environments a reality." By reliably automating all these processes, InFact(R) has the potential to save this and other government agencies millions of dollars per year. Automated, geographic text recognition requires advanced natural language processing, including lexical and spatial contextual analysis. Unlike many competing technologies, InFact(R) employs deep linguistic parsing techniques designed to capture and exploit a higher percentage of the information in large databases of documents. Funding from the award will be recorded in the company's financial statements as a reduction to research and development expense. About Insightful Insightful Corporation (NASDAQ:IFUL) provides enterprises with scalable data analysis solutions that drive better decisions faster by revealing patterns, trends and relationships. The company is a leading supplier of software and services for statistical data analysis, data mining and knowledge access enabling clients to gain intelligence from numeric and text data. Insightful products include S-PLUS(R), Insightful Miner(TM), S-PLUS(R) Server and InFact(R). Insightful consulting services provide specialized expertise and proven processes for the design, development and deployment of customized solutions. The company has been delivering industry-leading, high-ROI solutions to thousands of companies in financial services, life sciences, biotechnology, telecommunications, and manufacturing, plus government and research institutions. Headquartered in Seattle, Insightful has offices in North Carolina, France, Switzerland, and the United Kingdom, with distributors around the world. For more information, visit www.insightful.com, email info@insightful.com or call 1-800-569-0123. Note to Investors -- Forward Looking Statements This press release contains forward-looking statements, including statements about our expectations with respect to continued government funding, our efforts to enhance InFact software, the potential of our software to save government agencies millions of dollars by automating processes, the ability of our software product to satisfy certain precision and recall requirements and reliably and precisely process the human language, the robustness and dependability of our product, and our potential for deployment of a text analysis solution in a production environment. Forward-looking statements are based on the judgment and opinions of management at the time the statements are made. Inaccurate assumptions and known and unknown risks and uncertainties can affect the accuracy of forward-looking statements. Actual results could differ materially from those expressed or implied by the forward-looking statements for a number of reasons, including, without limitation, the risks associated government funding decisions and the risks associated with errors or defects in our software. More detailed information regarding these and other factors that could affect actual results is set forth in our filings with the Securities and Exchange Commission, including our most recent Quarterly Report on Form 10-QSB. You should not unduly rely on these forward-looking statements, which apply only as of the date of this release. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release or to reflect the occurrence of anticipated events.