BearingPoint, in Cooperation with SAP, Deploys First Phase of a New Tax and Revenue Management System for Costa Rican Government

New Portal Enables Large Taxpayers to File and Pay Taxes Online

BearingPoint, Inc. (OTCBB:BGPTQ), one of the world’s largest management and technology consulting firms, today announced it has deployed the first phase of a new tax and revenue management system for the Costa Rican government in cooperation with SAP AG and the support of the Costa Rican Ministry of Finance.

The new system, supported by SAP® Tax & Revenue Management for Public Sector package, provides the Costa Rican government and its taxpayers with an integrated view of tax records. It also streamlines the ability to process tax returns and payments, and allows taxpayers a way to communicate with the Dirección General de Tributación (the Costa Rican tax authority) online via an integrated Web portal.

“As a leader in designing and implementing tax and revenue management solutions worldwide, BearingPoint knows how to harness the power of technology to streamline the tax process,” said Fran Greaney, senior vice president for BearingPoint’s Emerging Markets segment. “BearingPoint is especially proud we were able to help the Costa Rican government meet its citizens’ desire for additional automated services with this project while improving efficiencies and cutting costs – and we look forward to continuing our work on this important initiative.”

The new tax portal is fully operational and currently capable of processing the country’s largest taxpayer’s main taxes. Plans are in place to add remaining tax types and taxpayers to the integrated system through an ongoing expansion and rollout over the next 12 months with technical and functional support of the Dirección General de Tributación.

At the completion of Costa Rica’s Digital Tax initiative, the entire population of taxpayers, all taxes and the entire tax value chain will be supported by a single integrated system. This will include registration, filing and other services.

“The modernization of the IT infrastructure in Costa Rica is not just about managing taxes more efficiently, it is also about introducing more intelligent IT systems,” said Markus Werling, vice president, Industry Business Unit, Tax & Revenue Management, SAP AG. “Implementing systems that help tax agencies to better identify tax evaders and close the tax gap often represents a huge challenge for tax agencies. The success of this project further underscores the importance of the successful relationships between our partners and SAP in tax and revenue. Together with BearingPoint we were able to deliver a solution that enables fast, flexible configuration of advanced, jurisdiction-specific tax and revenue business rules.”

About BearingPoint, Inc.

BearingPoint, Inc. (OTCBB:BGPTQ) is one of the world’s largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 60 countries worldwide. Based in McLean, Va., the firm has approximately 15,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to “next-generation” technology. For more information, visit the Company’s Web site at www.BearingPoint.com.

SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries.

All other product and service names mentioned are the trademarks of their respective companies.

BearingPoint Forward-looking Statement

Some of the statements in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as “will,” “expects,” “believes” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SAP Forward-looking Statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (”SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

Contacts

BearingPoint, Inc.
Steve Lunceford
Director, Global Communications
703-747-4545
Steve.lunceford {at} BearingPoint(.)com