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DerivaTech Announces the Appointment of Paul E. Tennola

Former GE Executive Brings 14 Years Experience to Currency Derivatives Software Provider

CHICAGO– October 9, 2001 - DerivaTech announced today that Paul E. Tennola has been named to the company’s new position of Chief Operating Officer. Tennola joins DerivaTech, a global leader in currency derivatives software solutions, with 14 years of extensive experience in strategic planning and operations.

Before joining DerivaTech, Tennola was COO and CFO of Incent, Inc., a developer of Web-based decision support software for financial and insurance nstitutions. His experience includes: Vice President of Business Development and Six Sigma Master Black Belt-Quality for GE Financial Assurance-Partnership Marketing Group, as well as financial management positions at Deloitte Touche and Merrill Lynch.

Reporting to Nicholas Hatzopoulos, CEO of DerivaTech, Tennola will focus on leveraging the talent and capabilities to support the firm’s global growth strategy and provide the proper resources and operational support to ensure the continued strong customer relations.

"We’re pleased that someone with such a high caliber background and stellar reputation is joining DerivaTech to take charge of our global operations and business expansion," said Hatzopoulos. "We’ve made tremendous inroads with our product development and market penetration and now it’s time to take a strategic look at how we can enhance our core competencies," continued Hatzopoulos.

Paul E. Tennola, commenting on his decision to join DerivaTech, said, "Exciting developments are afoot at DerivaTech and I am looking forward to playing a significant role as a catalyst for growth. DerivaTech has a great reputation and a strong product offering as a result of the existing team. I’m delighted to join this group of industry experts."