City Networks appoints Marc Philippo to Sales Manager EMEA

London - August 7, 2002, City Networks, an established leader in developing and implementing software and services to the treasury, securities and derivatives markets, today announced the appointment of Marc Philippo as Sales Manager
for the EMEA region.

Most recently Marc established the European operations of US based Principia Partners where he built a core team covering sales, client services and support. Prior to this, Marc was an Associate Director of Financial Objects
focussed on component technology solutions and European Sales Manager for Renaissance Software.

Marc's role at City Networks Ltd will be to manage the European sales team covering new business, account management and relationship management. Commenting on his new role, Marc stated: "City Networks Ltd is at a pivotal
point in its history having established a well earned reputation for innovative products and service excellence among its more than 500 customers. I am pleased to be part of an experienced management team and to have the opportunity of taking City Networks Ltd to the next stage in its growth."

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