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Mosaic Software appoints new Managing Director for Europe and Middle East.

-Expansion plans on track for Electronic Funds Transfer (EFT) software leader.

London, U.K., 24 January 2002 – Mosaic Software, global EFT solutions vendor sends a strong message to the European electronic funds transfer (EFT) market with the announcement today of the appointment of Nigel Bidmead as its new Managing Director based in the UK.

Mosaic Software has recently undergone restructuring to align the UK division with its global strategy to focus on the EFT market including EMV, PrePay and web-enabled ATMs. Hiring Nigel Bidmead is the latest part of this strategy. Bidmead brings with him 17 years experience in international sales and marketing of high value software products and a variety of senior executive roles within the payment systems arena.

Bidmead has previously worked for a number of payment vendors in senior capacities such as ACI, Minacs Worldwide and Flexicom International and most recently he was Managing Director EMEA of QSI Payments. Bidmead will have full responsibility for the future direction of Mosaic Software in Europe and the Middle East including sales and delivery.

Bidmead says: "I am delighted to join Mosaic Software at this exciting time of transformation in the Payments market. The industry is going through a significant change from the legacy systems built over 20 years ago to customers wanting to implement solutions faster, with a modern day flexible technology, such as Java, at a lower cost per transaction and this is exactly what Mosaic
Software can offer them."

Mosaic Software has also recently moved its Chief Financial Officer, Jan ruger, from South Africa to the UK and plans to move to larger offices in the near

Mosaic Software is poised for significant growth with its leading Postilion solution and through its strong partner network, including Logica, NCR and Stratus. Expect more announcements soon.