Tradeware Systems Strengthens Management Team; Peter Hull and Henry Mayorga Promoted to Key Vice President Posts; Fred Boy Appointed as General Counsel

NEW YORK--(BUSINESS WIRE)--Sept. 22, 2005--Tradeware Systems Corp., which provides electronic trading solutions that deliver broker-neutral, direct-market access to more than 50 stock exchanges in 40 countries around the world, today announced two management-level promotions and a new appointment, effective immediately. The Company has promoted Peter B. Hull, former director of technology, to the position of vice president of client services and Henry Mayorga, former director of operations, to the post of vice president of operations. The Company also announced the hiring of Fred P. Boy as its general counsel.

In addition to their new positions, all three men have been appointed to the Tradeware management committee, which is responsible for helping to shape the strategic direction of the Company.

In his new role, Hull will oversee the Company's international team of client services managers. Before joining the Company in 2004 as director of technology, he worked for 11 years at the European commercial bank WestLB AG, most recently as director of electronic commerce. In that role, Hull spearheaded the conception and delivery of cross-asset class electronic trading, research and information portal products. He also served as WestLB's chief technology officer for North America, managing a staff of up to 40 professionals responsible for software development and infrastructure management. From 1986 to 1993, Hull worked at The First Boston Corporation in a variety of senior positions, including vice president of fixed income trading technologies. He received a bachelor's degree in economics and history from New York University.

Mayorga will direct Tradeware's 12 operations specialists, who are involved in network integration between Tradeware and its customer sites around the world. He also will oversee the Company's data centers in New York and London.

Before joining Tradeware as director of operations in 2004, Mayorga served as vice president of networking engineering for Lehman Brothers, where he was responsible for engineering design and third level support for the Firewall Engineering, Wireless Engineering and Network Management groups. Prior to that, he worked for 11 years at Neuberger Berman, Inc., most recently as vice president of networks. In that role, he planned and designed the deployment of a dark fiber network between data centers, as well as planned and initiated creation of a metropolitan Sonet ring. Mayorga also served as Neuberger Berman's manager of infrastructure and LAN manager. He received a degree in computer science from Columbia University and holds several certifications, including Certified Network Analyst, MCSE and CNE.

"Peter and Henry have excelled in their respective positions and rapidly earned the opportunity to move ahead in the organization," said Howard J. Schwartz, Tradeware's chairman and chief executive officer.

Fred Boy comes to Tradeware with 10 years of legal experience at the institutional broker dealer Lynch, Jones & Ryan, where he served as general counsel and managing director. From 1989 to 1995, he worked as general counsel to The Transportation Group Ltd., an investment banking firm. He began his legal career as an attorney with the New York-based law firm Cahill Gordon & Reindel, where he worked from 1980 to 1989.

Boy is admitted to practice in New York. He received his law degree from St. John's University School of Law, Jamaica, New York, and his bachelor's degree in political science from the State University of New York College at Oneonta.

"Fred has spent much of his 25-year legal career serving the financial services industry, and his background will be an important asset as we continue to expand our business internationally," Schwartz said.

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