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SciQuest Achieves SAS 70 Type II Certification

(June 11, 2008)-- SciQuest announced that the company has received its Statement on Auditing Standards (SAS) No. 70 Type II certification. Developed by the American Institute of Certified Public clients that a service organization has been through an in-depth audit of their control objectives and control activities.

As a provider of on-demand software solutions, this certification means SciQuest has demonstrated that the organization has adequate controls and safeguards in place to protect data belonging to the company's more than 100 customers who processed over $5.3 billion in transactions through the SciQuest system last year. The independent service auditor's report details the controls placed in operation and tests of operating effectiveness for SciQuest's SelectSite and HigherMarkets solutions, providing customers with assurance that their data is secure, the necessary controls are in place and that these controls are functioning properly.

"We are proud to be a SaaS pioneer and, as such, this audit reflects our unwavering commitment to providing our customers with reliable solutions that also uphold the integrity of their data to the highest possible standard," said Jamie Duke, COO of SciQuest. "We plan to conduct an annual Type II audit to provide our customers with the ongoing assurance that our operating and information technology control objectives are continually met."

"Even for organizations not subject to the regulations of the Sarbanes-Oxley Act, our completion of a SAS 70 Type II audit eliminates the need for our customers to conduct their own audits of our systems, saving them valuable time and resources," stated Stephen Wiehe, president and CEO of SciQuest. "Providing our customers with trusted, secure solutions that help them better manage spend and advance their core missions remains at the heart of everything we do."

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