Xtiva Signs Investec Ernst & Company

December 21, 2001 – San Francisco. Xtiva Financial Systems announced today that the firm has signed Investec Ernst & Company as a new client. Investec Ernst will be implementing Xtiva’s Commission Manager and CommissionWeb product for its registered representative base of approximately 280 people.

Once their internal rep sales force is successfully up and running, Investec has agreed to form a marketing alliance with Xtiva to jointly market Xtiva’s products to Investec’s correspondents. Investec views Xtiva’s product offerings as another value added service that they will offer to their client base.

"Providing leading-edge technology solutions to our reps is critical for us to remain competitive in today’s market," said Michael Rabinowitz, Senior Vice President, Investec Ernst & Company. "Not only does Xtiva have the right technology for our reps and correspondents, but with the backing of their new partner, ADP, we are comfortable with their ability to deliver in the short-run and the long-run."

"We are very pleased to be working with the people at Investec Ernst. Investec Ernst is exactly the type of business we are targeting," said Thomas Moysak, Vice President of Sales at Xtiva. "We look forward to rolling out our products to their correspondent base starting in 2002."

Xtiva Financial Systems, Inc.
Tel: (212) 228-6200 x212

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