Shadow Financial Continues Momentum with Hire of Senior Vice President and Director of Sales and Marketing

- Experienced Executive Joins Shadow Financial to Drive Company and Customer Growth -

EDISON, N.J. (September 6, 2005) -- Shadow Financial Services Corp., developers of the ShadoSuite global securities processing system, today announced that George Calleia has joined the company as senior vice president and director of Sales and Marketing. In this role, Calleia is responsible for driving revenue, increasing market awareness and securing collaborative partnerships.

Donald Marino, CEO of Shadow Financial Services, said, "We’re thrilled to welcome George to the executive team at Shadow Financial. As the company continues to rapidly grow, it is crucial to have a seasoned sales and marketing executive in place, and George has a proven track record of increasing revenue, securing strategic partnerships, and building sales and customer support teams. Leveraging his experience, George is positioned to play a vital role in the continued growth and development of Shadow Financial Services."

Calleia began his career at Bache & Co., which was acquired by The Prudential Insurance Company of America in 1981 and later became Prudential Securities. In July 2003, Prudential Securities announced the merger of its retail brokerage business with Wachovia Securities. Calleia joined Shadow Financial from First Clearing, a division of Wachovia Securities, where he was senior vice president and regional sales manager of the Correspondent Services division. Prior to that, Calleia was a senior vice president at Wexford Clearing Services, a subsidiary of Prudential Securities. There, he was responsible for all aspects of that division’s marketing, sales and business development. His efforts, including those surrounding enhancements to the organization’s clearing system, played an instrumental role in the growth of the business unit up until its integration into First Clearing.

"Shadow Financial continues to experience impressive growth in its client base, and I am excited to become a part of this driving force behind leading global securities processing solutions," said Calleia. "I look forward to utilizing my experience and skills to continue building awareness of Shadow Financial’s flagship product, ShadoSuite, and the company’s commitment to world-class client service."

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