Panopticon Shareholders Elect New Board of Directors

Stockholm, Sweden - 10 December 2007

Panopticon Software, the leading provider of visual business intelligence software, today announced that its shareholders have elected three new members to its Board of Directors. This move is to help support the company's growth resulting from increased sales in both Financial Services and in its OEM business.

The new board members are:
• Carl Palmstierna. Palmstierna is a former partner with Goldman Sachs and has been involved with international investment banking for 30 years. He has served as CEO for Industrial Investment International, a private equity firm, and since 2002 he has been the CEO of ABG Sundal Collier, a major investment banking, brokerage and corporate advisory firm based in Oslo, Norway, with offices in Stockholm, Copenhagen, London and New York. In addition to Panopticon, Palmstierna is Chairman of the Board for Momail, MyFc and Qbrick and serves on the boards of Viewserve, Bluefish Pharmaceutical, AlltforForaldrar, and Elekta.
• John Wattin. Wattin has been actively involved in the IT industry for over 30 years and is an active independent investor in various high technology companies. He has successfully started and/or managed a number of companies over the years, including Astral AB, Modulföretagen AB and Scandiakonsult AB (now part of The Ramboll Group). Mr. Wattin was also one of the founders of Enator AB (which is today, renamed as TietoEnator, is one of the largest IT services companies in Scandinavia.) He was actively involved in reconstruction or founding of Indevo AB, Mandator AB and Sigma AB and is currently serving as Vice Chairman of the Board for MySQL AB, Chairman of Betsson, Chairman of Qbranch AB, Chairman of Syntensia, and a member of the board for Akademikliniken AB, Value Tree AB, Net Entertainment AB, and Silentium AB. John is also senior advisor to Evli Bank in Sweden. He has published a number of articles and is author of an award-winning book, How to Develop and Run Companies in the Service Sector.
• Jane Walerud. Walerud is an active investor in a wide variety of companies in Sweden and has made major investments in eight companies since 2002, two of which were sold in trade sales and one of which was listed on the Stockholm exchange. She served as CEO as well as board member for Ellen AB, which improves women's health through probiotic sanitary protection. She was the lead investor in TelcoGames AB, which publishes games for mobile phones, and Midsummer AB, which is just starting production of a new generation of thin film photovoltaic cells. She has also served on the boards of Kreditor Europe AB, Libego AB (acquired by VoiSec), Lensway AB, Meqon Research AB (acquired by Ageia), Progress Center of Excellence, ALMI Stockholm, Acreo AB, and SICS AB. She was also instrumental in the founding of network appliance manufacturer Bluetail, which was sold to Nortel Networks in 2000. In addition, Walerud was an early investor in Panopticon and served on the company's board from 2002 to 2003.
Palmstierna, Wattin and Walerud join company co-founder and Chairman Willem De Geer and current board member Ulf Arnetz:
• Willem De Geer. De Geer continues as Chairman of the Board and also in an operational role as Executive Vice President for Strategic Accounts. He was co-founder and CEO of emerging markets brokerage Brunswick Direct before starting Panopticon in 2001, where he served as CEO until April 2007. Before his term at Brunswick Direct, De Geer was Vice President Corporate Development at Khanty Mansiysk Oil Corporation (KMOC), a Russian oil company, which has since been acquired by Marathon Oil. Willem is also the Chairman of Terra Holding, the leading specialist in interior landscaping and maintenance in Russia. Willem holds a degree from the Stockholm School of Economics.
• Ulf Arnetz. Ulf Arnetz is Founder and Chairman of Reforce International, founder of several corporations in Scandinavia and USA and a leading entrepreneur with broad international experience. He founded the market-leading portal software company Corechange Inc, which was second in the industry when Arnetz sold it to OpenText in 2003. Prior to Corechange, he was the President and board member of Cambridge Technology Partners. Arnetz also founded IOS Group AB (now part of Cambridge Technology Partners), which rapidly and profitable grew to be a dominant professional service organization within Scandinavia. Mr Arnetz was awarded the prestigious "Entrepreneur of the Year Award" by TYOP in 1994. He is the author of two books: Strategic IT: The New Dimension and The Tornado. He has also been published in numerous international business magazines and newspapers and is a frequent speaker at IT industry events.

Willem DeGeer, Chairman of the Board for Panopticon Software, said: "I am very pleased to have attracted an experienced and engaged Board like this. It will help us to capture and manage the tremendous momentum we have gained over the last six months."