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Kiodex Appoints Jeff Mandelbaum as Vice President, Worldwide Sales

NEW YORK, March 13, 2002 – Kiodex, Inc., a provider of Web-based risk management solutions, today announced it has appointed Jeff Mandelbaum to the position of Vice President, Worldwide Sales.

Mr. Mandelbaum will spearhead the sales of the company’s flagship Web service, the Kiodex Risk WorkbenchSM, to all corporations that seek to manage their energy price risk and increase the transparency of their financial reporting. Mr. Mandelbaum will lead the sales force to drive the growth of the Risk Workbench and add to Kiodex’ growing roster of clients in the Airline, hemical, Oil and Gas, Transportation, Manufacturing, and Pulp and Paper industries. Previously, he founded Software Growth Services, LLC, a consultancy that maximizes value creation in high-growth software companies.

"We are delighted that Jeff, a world-class sales executive, has chosen to join the team at Kiodex," stated R. Martin Chavez, CEO. "His track record, skill, leadership, and integrity complete our management group as we execute our strategy and expand our business."

Mr. Mandelbaum is an accomplished high-technology executive who has played key roles for more than sixteen years in the growth of industry leaders in relational database technology, business-to-business commerce, and streaming media. Previously, he held executive sales positions at Real Networks (NASDAQ: RNWK), Commerce One (NASDAQ: CMRC), and Sybase, Inc. (NYSE: SYB), where he consistently exceeded revenue and margin objectives while increasing efficiency and developing a world-class organization.

"In my years of experience in the technology industry, I have never seen a company so perfectly positioned for explosive growth as Kiodex," said Mr. Mandelbaum. "The management team is one of the smartest I’ve seen, and the technology Kiodex offers directly addresses the pain that corporations are currently experiencing, given the volatility in the marketplace and the greater financial disclosures being required by regulatory agencies, boards of directors, and shareholders alike. I am excited to bring my expertise to accelerate the growth of Kiodex and the Risk Workbench."