CARNEGIE, PA -- February 21, 2003 -- NeuralWare and WISCO-ICC, the Instrumentation and Control Company of Wuhan Iron and Steel (Group) Company announce the signing of a 10-year comprehensive Technology License Agreement that will permit WISCO-ICC to use NeuralWare's advanced neural network technology to develop analytic software applications for internal use and for resale in the People's Republic of China. The Agreement makes WISCO-ICC NeuralWare's first strategic partner in the burgeoning China marketplace, and it marks the first intellectual property license to be acquired by WISCO-ICC following China's accession to the WTO. In addition to providing access to existing core neural network technology, NeuralWare will provide training and support for WISCO-ICC engineers, and access to new analytic technologies developed by NeuralWare during the term of the license.

   In announcing the technology license, Jack Copper, CEO of NeuralWare noted that "My initial contact with WISCO-ICC resulted from NeuralWare's participation in a trade delegation to Wuhan China sponsored by the Urban Redevelopment Authority of Pittsburgh. URA support, and the long-standing sister city relationship between Wuhan China and Pittsburgh, added considerable credibility to NeuralWare's efforts to enter the Chinese market. The effort that went into negotiating this Agreement clearly demonstrates that Chinese enterprises are becoming increasingly sophisticated in their selection of tools and technologies to generate higher returns on investment in manufacturing operations and improved product quality. Given WISCO-ICC's reputation as a technology leader in China, we believe our partnership with WISCO-ICC and its parent, the Wuhan Iron and Steel (Group) Corporation is a solid foundation for developing a wide variety of intelligent applications for WISCO-ICC to offer throughout China."

   Also, Mr. Wang Weiping, Senior Engineer and General Manager of WISCO-ICC, stated that "WISCO-ICC is very pleased to be the first licensee of NeuralWare technology in China. WISCO-ICC conducted a thorough evaluation of NeuralWare's products and technology, and we believe that the combination of WISCO-ICC experience in steel production and related fields, and NeuralWare's experience in applying advanced analytic technologies will yield application software that will give our parent WISCO and our external customers strong competitive advantages through significantly improved operational capabilities and more accurate analysis and forecasting methodologies."

About NeuralWare
   NeuralWare, a privately-held company based in Pittsburgh Pennsylvania in the USA, is a leading supplier of business intelligence and analytic empirical modeling technology and solutions. NeuralWare has been developing advanced technologies and offering analytic solutions to customers and licensees around the world since 1987. Its flagship products, NeuralWorks® Professional II/PLUS and NeuralWorks Predict® are comprehensive modeling and deployment platforms used in industries and applications ranging from finance, marketing, and CRM to vision inspection systems and industrial quality control.

About WISCO-ICC and WISCO
   WISCO-ICC is the Instrumentation and Control Company of the Wuhan Iron and Steel (Group) Company (WISCO), based in Wuhan China. WISCO-ICC provides enterprise software development and engineering support services to WISCO operating divisions as well as to third party organizations. WISCO, which began operations in 1958, is the one of the largest steel producers in China. WISCO's principal products include more than 200 grades of hot and cold rolled coil steel, strip hot dip galvanized sheet electrolytic tinned sheet, and a variety of other types of steel, including of 98 grades of new high value-added and high-tech content products in 38 series. WISCO ranks second overall, and first in the metallurgical industry, in R&D capabilities in China.

Contact: Jack Copper (NeuralWare)
   412-278-6290
   Email: jack.copper@neuralware.com

Contact: Wang Wei Ping (WISCO-ICC)
   +86 (27) 8680 5244
   Email: wpwang@public.wh.hb.cn