Signals Major Move in Business Development

New York, November 15, 2005 – Advanced Financial Applications (AFA), a leading provider of Integrated Order Processing™ trading technologies to buy and sell side financial organizations, today announced that Dean Stamos has joined the firm as Managing Director. He heads AFA’s business development, marketing and sales.

Mr. Stamos brings over 15 years of management and trade execution experience to AFA and is charged with building both the current client base, and expanding AFA’s buy and sell side reach. Most recently Mr. Stamos was Managing Director at Piper Jaffray, where he managed Piper’s algorithmic and program trading operations. Prior to that, he was CEO of VIE Financial, a publicly traded broker-dealer and technology firm. He co-founded NYFIX Millennium, an ATS for NYSE listed securities.

Commented Nilesh Nanvati, AFA’s President: "AFA is committed to providing buy and sell side traders with order efficiencies that improve performance and profitability. Dean shares our commitment and dedication to making the trading process as cost-effective and seamless as possible. He brings to AFA an expertise and experience which we know will help our growth, but equally importantly, will aid our clients in achieving the results they seek."

Said Dean Stamos: "It is my belief that AFA is in an entirely unique position when it comes to serving our client base. Through our neutral stance, we are capable of offering our clients ‘best in class’ services available throughout the entire industry in an extremely cost effective manner. Moving forward, AFA will continue to not only prove its value to our current client base, but will move aggressively to grow through the addition of cutting edge services previously unavailable to our target market."

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