XCITEK LLC Expands Sales Force to Meet Growing Demand for Corporate Actions Data and Software Solutions

Company Realigns Sales Team and Plans for New Hires

New York, NY, January 20, 2004 – XCITEK LLC, the leading provider of corporate actions data and software solutions, announced today its plans to realign and expand the sales organization to meet the growing demand for its full suite of corporate actions securities processing products and services. The organizational restructure includes promotion appointments and role changes to the current group. XCITEK also plans to hire several new staff members for sales and support positions for the New York office.

As part of the realignment, Craig M. Schachter, Senior Vice President, will assume the responsibility for all global sales and strategic partnerships. One of the first changes to be implemented includes moving Richard Yosua into a newly-created role as Director of Third-Party Sales. Previously, Mr. Yosua was Director of Data Sales.

In addition, John Kehoe has joined the team as Sales Executive, covering the southern region of the U.S. Mr. Kehoe will continue to work out of the Birmingham office and will be responsible for the entire XCITEK product line. His most recent position as XSP Senior Client Administrator has made him an invaluable asset to the team in providing superior client services and project management for its flagship software solution. Mr. Schachter will further expand his staff with the addition of three new sales people for the New York office.

Brendan P. Farrell, Jr., Managing Partner of XCITEK says, "In 2003, we made significant investments in developing new product releases and initiatives, penetrating our presence in the U.K. market, and building relationships with the best-of-breed service providers and industry utilities to enhance our product offerings. We expect 2004 to be yet another exceptional year as we continue to pour financial resources into the development and enhancement of our business. Our team of talented and knowledgeable professionals has been the driving force behind such a successful year."

The realignment will also impact the client services and marketing groups. Charles W. Price, Senior Vice President, will be responsible for overseeing the entire client service, sales support and marketing efforts for all XCITEK products. Several changes have been implemented in Mr. Price’s group for 2004 including the promotion of Mick Coffey to Director of XSP Product Support for North America. In this role, Mr. Coffey will be responsible for providing all pre– and post-sales support and product expertise for the XSP software solution, while bringing on additional personnel this year. Tom O’Brien has also been promoted to Director of Internet Products. Mr. O’Brien and his team will be responsible for the company’s web-based product offerings including quality assurance, product development, client services and technical support. Catalina Gonzalez, Director of Data Product Support, will also be expanding her department to support the growing demand for the XCITEK product lines.

Over in the London sales office, recently-promoted Nick Burgess, Director of European Operations, continues to grow his staff with the addition of Richard Bustard. He brings a wealth of sales and account management experience in back-office securities processing systems. Mr. Bustard previously worked at One-Ten as Senior Sales Executive where he successfully sold its Salerio e2e product suite to financial institutions looking to automate the post-trade process. He also gained tremendous knowledge of the corporate actions business while working at UBS.

"Expanding our sales and support teams with high-quality staff members will further strengthen and solidify our presence in the market as we embark on a new year of challenges and opportunities," says Mr. Farrell.

Finally, the marketing department has been expanded with the addition of Ronnie Bradford. Formerly a senior administrator for the Birmingham office, Ms. Bradford has moved into a newly-created position as Marketing Executive and will report directly to Wendy Chan, Director of Marketing, assisting with marketing and communications efforts for both the data and software businesses as the company continues to aggressively grow its client base and remain the leader in the corporate actions arena. Ms. Bradford will continue to work out of the Birmingham location.

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