ePlus Overview

1
ePlus Overview
September, 2005
2
Safe Harbor Statement

• The statements made during this presentation,
  which are not historical facts, may be deemed to
  contain forward-looking statements within the
  meaning of Section 21E of the Securities Exchange
  Act of 1934 . These statements include words or
  phrases like will likely result, are expected
  to, will continue, is anticipated,
  estimate, project or similar expressions.
  Such statements are subject to certain risks and
  uncertainties that could cause actual results to
  differ materially from historical earnings and
  those presently anticipated or projected due to
  certain risks and uncertainties, including,
  without limitation, the existence of demand for,
  and acceptance of, our services our ability to
  adapt our services to meet changes in market
  developments the impact of competition in our
  markets the possibility of defects in our
  products or catalog content data our ability to
  hire and retain sufficient personnel our ability
  to protect our intellectual property the
  creditworthiness of our customers our ability to
  raise capital and obtain non-recourse financing
  for our transactions our ability to realize our
  investment in leased equipment our ability to
  reserve adequately for credit losses
  fluctuations in our operating results and our
  reliance on our management team. We also refer
  you to the disclosure contained in our Annual
  Report on Form 10-K for the year ended March 31,
  2005 under the heading Risks Factors for a
  description of these risks and uncertainties.
• We wish to caution you that these factors could
  affect our financial performance and could cause
  actual results for future periods to differ
  materially from any opinions or statements
  expressed with respect to future periods in any
  current statements.
• We do not undertake and specifically decline any
  obligation to publicly release the result of any
  revisions which may be made to any forward
  looking statements to reflect events or
  circumstances after the date of such statements
  or to reflect the occurrence of anticipated or
  unanticipated events.

3
Mission Statement
To be the Leading Provider of IT and Process
Automation Solutions to Improve the Bottom Line
Performance of Our Customers
4
Market Data
As of September 20, 2005

• Recent price 12.55
• 52-week range 9.32-17.14
• Shares outstanding 8.5 million
• Estimated float 5.8 million
• Market capitalization 106 million
• Management ownership 31
• Institutional holdings 49 (3/31/05)
• Year Ended March 31

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Corporate Summary

• Founded 1990, IPO in 1996
• Headquartered in Herndon, VA (metropolitan
  Washington, DC)
• 576MM Revenues FY05
• Over 2,500 customers
• 10 Acquisitions (1996-2004)
• 640 Employees
• 211 in Sales and Marketing
• 33 locations in U.S.

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Business Summary

• IT Sales Services
• Direct Marketing of IT Products
• Advanced Enterprise Services
• Leasing
• Financing
• Process Automation
• Payment Processing
• Software
• Enterprise
• On Demand

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Marketing Strategy

• Direct End-User Salesforce
• 211 people in sales and marketing
• 33 locations nationwide
• Segmented by business
• Target Customer
• Commercial
• Middle Market (10MM)
• F1000
• Government
• Higher ed institutional
• eCommerce
• Order Automation Lifecycle Management solutions
  for enterprise customers (eProcurement, content
  management, asset management, etc.)

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IT Solutions

• IT Fulfillment for Tier 1 suppliers such as IBM,
  Cisco, HP Others
• Provider of Advanced Enterprise Technology
  Services
• IPT
• Security
• Network
• Storage
• Managed Services
• Outsourcing
• Order Automation (OneSource)
• Generates incremental revenue from software
  leasing customers

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Leasing

• Full life cycle management for lease process
• Financial benefits of lease financing
• Leverages customers existing investments
• Enforces controls and compliance
• Delivers operating efficiency
• Contract Monitoring
• Warranty, Maintenance Service Management
• Change Management
• Deployment Planning
• Electronic Payment Service
• Electronic Business Process
• Data Standardization
• Category Drilldown Product Detail
• Order Audit Trail
• Automatic Workflow Facilitation

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Software

• Procurement
• Product Content Management
• Asset Management
• Spend Management Analysis
• Document Imaging
• Order Automation

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Synergies
Why Enterprise Cost Management Works

• Leasing consists of business processes which
  ePlus has automated for customers via internal
  process optimization software
• IT Sales Services generates revenue growth and
  is platform for cross-selling
• Software differentiates ePlus solutions in core
  business binds entire supply chain

Result

• Multiple entry points to customer
• Outsourcing creates stickiness
• Incremental revenue generated by multiple
  cross-sell up-sell opportunities
• Customers become reliant on ePlus

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Financial Performance

• Cash Flow
• From Operations (FY05) 41.5MM
• Liquidity
• 38.9MM cash 3/31/05
• 45MM credit agreement
• 75MM floorplanning
• Stock Repurchase (since 9/01)
• 2.3MM shares
• 22.9MM
• Diverse Sources of Revenues Earnings
• Sales of Product Services
• Lease Revenue Fees
• License Fees Subscription

13
Management

• Management
• Phillip G. Norton, Chmn, CEO, President
• Bruce M. Bowen, EVP, President, ePlus Group
  (Leasing Co)
• Kenneth G. Farber, President, ePlus Systems
  (Software)
• Steven J. Mencarini, CFO
• Kleyton L. Parkhurst, SVP Corp Dev., MA, IR
• Erica S. Stoecker, General Counsel
• Board of Directors
• Phil Norton (3)
• Bruce Bowen (3)
• Tom Faulders (1)(2), ret. CEO LCC International
• Terry ODonnell (1)(2), SVP, GC Textron
• Larry Herman (1)(2), Mng. Partner BearingPoint
• Milt Cooper (1), retired Pres. CSC Federal
• (1) independent, (2) audit, nominating
  corporate governance, and compensation
  committees, (3) stock incentive committee

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Strategic Acquisitions

• 10 Acquisitions Since 1996
• IT Integrators/Solutions Providers
• New Markets (CA, NYC, Boston, Philadelphia,
  Washington, Baltimore, Florida, NC)
• New Products Services
• Cross sell leasing, BPO, software
• Software
• Procurement, Asset Management, Content
  Management, Document Imaging
• Acquisition Strategy
• Geographic Market Expansion
• Gain Customers Salespeople
• Add Solutions Software
• Asset Gathering for Leases

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Growth Strategies

• Enhance organic growth through incremental
  cross-selling and up-selling
• Acquire new markets, customers, products, and
  services via strategic, accretive acquisitions
• Attract and retain the best professionals in
  sales and services
• Deliver the best business process
  software/service solution in the marketplace
• Develop channel partnerships for software

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Investment Considerations

• Core businesses provide
• solid financial foundation
• business process experience and expertise
• technology platform
• Broad cross section of commercial, municipal, and
  federal customers
• Direct marketing direct sales force
• Intellectual property portfolio
• We are visionaries in our application of
  technology, services, and products to meet the
  needs of our customers

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For More Information

• Kley Parkhurst, SVP
• kparkhurst_at_eplus.com
• [phone]
• www.eplus.com
• ePlus inc.
• 13595 Dulles Technology Drive
• Herndon, VA 20171-3413
• [phone]