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FAME Names New Executive Management Team to Support New Structure, Growth Strategy and Customer-Centric Focus

Coincides with Additional Funding Investment from Warburg Pincus

New York, NY, April 17, 2002 – According to FAME’s new CEO and president, Dale Richards, "FAME is reorganizing to adopt a clear, concise corporate growth strategy and a highly responsive, customer-centric focus. This will enable us to compete and capitalize on a large and emerging opportunity in the market for managed market-data solutions. The market’s moving quickly from a "home-grown" solution orientation to a vendor-provided solution orientation as customers seek cost savings and focus on their key strengths. We’re doing the same, focusing on our capabilities that are uniquely suited to this new opportunity, but it will require a new organizational structure, a new competitive mind-set, an awesome development team, a strong corporate culture and the right executive management team to drive it."

FAME Information Services, Inc., a leading global provider of data management technology software and consulting solutions to the world’s financial, public sector and energy markets, today announced publicly a new corporate business growth strategy, organizational structure and executive management team.

In an internal announcement to the company’s 300 employees in offices in the US, Europe and Asia on April 9, Richards explained that FAME’s vertical market-specific "business" divisions will be replaced with "tightly focused teams" across functional departments and "market-specific segment strategy teams" guided by four principles. They include a focus on FAME’s "key strengths and core competencies"; a 100% commitment to being "customer-centric"; specializing in the delivery of "enterprise solutions for historical data management"; and building strong "alliances with marketing, consulting and application partners."

Richards said, "A new growth strategy demands a growth-oriented management team." Members of the new executive management team include Neil Edelstein, Dominic Innaccone and Paul Mattison.

Edelstein, who joined FAME in April 2001 as senior vice president, marketing, for its financial markets division, now has global responsibility for all sales, pre-sales, marketing, product and account management for FAME’s energy and financial markets segment business. From 1993 to 1998, he was president of Muller Data, a $45 million data warehousing, software development,and financial information firm, which was a Thomson Financial company and part of The Thomson Corporation ((TSE: TOC), where he was responsible for acquisitions, strategic planning, operations, sales, finance and technology. He holds an MBA degree in marketing from Pace University in New York.

Iannaccone, senior vice president, development and currently responsible for global operations and development, adds responsibility for global software data hotline service management and data integrity, consolidating company-wide development, operations and technical support. He joined FAME in August 2000 from, developers of financial and energy trading software, where he was COO. Prior to Inventure, he served as director of enterprise data management at Lucent Technologies (NYSE: LU) from 1996 to 1999. He holds a Bachelors degree in electrical engineering from Cooper Union in New York and a Masters in management of technology from The Sloan School, Massachusetts Institute of Technology.

In addition to serving as CFO, Mattison immediately assumes direct responsibility the firm’s consulting services, "a change in reporting that reflects our strategy and intent to grow our consulting services as a more autonomous and independent-minded business unit, with a focused P&L," said Richards. Mattison will also be responsible for FAME’s educational market-segment sales through The Oxford Princeton Programme, the world’s leader in complete training solutions to the energy and commodities industries, which was led to profitability in 2001 by Clara Lippert, who will now report to Mr. Mattison. He joined FAME in September 1999 as CFO after eight years at The Thomson Corporation, where from 1997 to 1999 he served as CFO of RIA Group. He has an MBA from The Wharton School at the University of Pennsylvania and a BA Honors from City of London Polytechnic.

With these organizational changes, Bill Wilson, previously president of FAME’s energy division, will assume a new projects role on a number of focused activities.
Warburg Pincus, one of the world’s largest private equity firms and the majority owner of FAME, has also provided additional restructuring funding, "a clear endorsement of the market opportunity, our going-forward plan and their belief, trust and confidence in our management’s team," said Richards.