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FNX Names New Global Director of Sales

London, April 9th 2002 - FNX Limited (FNX), a leader in the delivery of technology solutions to the global financial markets, today announced the appointment of Stephen Fry as the new Global Director of Sales at FNX.

Stephen Fry comes to FNX from Misys plc, where he'd spent a total of eleven years selling financial systems to the international banking industry and was most recently responsible for North American sales. He has lived and worked in London, Singapore, and New York. Stephen's joining the senior management team fills another key position for FNX as the software developer continues to expand its global reach and positioning.

Stephen commented: "I'm pleased to be joining FNX at a time when the company is well positioned for growth. Our Sierra system has been widely accepted by the international banking community, and our new products have been developed to meet the increasing needs of our customers. These developments will position us well with potential new clients." Stephen added "furthermore, while we continue to implement the Sierra Global Solution in banks around the world, we are now also seeing success from our global ASP businesses. This offers another very promising sales opportunity for us."

Farid Naib, founder and CEO of FNX, added: "Hiring Stephen underlines our determination to grow the company and expand into new markets. We have an extraordinary product, and I am very excited that we have been able to add Stephen to the ranks of our management team. His knowledge and familiarity with the industry, combined with his enthusiasm and determination, will be a real asset for FNX."