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Financial Technologies International (FTI) further strengthens management team in response to international demand

Leading software provider supports growing client base with three key appointments

NEW YORK - October 15, 2002 - Financial Technologies International (FTI), a leader in the emerging market for Financial Enterprise Software (FES), today announced three senior appointments. The company's expansion is part of an ongoing recruitment drive, and reflects a growing interest in FES technology among financial service institutions looking to improve STP.

The new executives include:

* Harpreet Grewal - chief financial officer, previously at eGain Communications;
* Joe Ricca - vice president, global sales and marketing, previously at Provato;
* Bob Wolfert - executive vice president of product management, previously at Placement2000 and MVP Consulting.

Michael Meriton, President and CEO of FTI, comments: "I am delighted to welcome Harpreet, Joe and Bob to our management team. Each is a leading figure in his field, and their combined talent and vision will keep FTI at the cutting edge of Financial Enterprise Software."

Harpreet Grewal brings 14 years of financial management experience to FTI, including senior financial and strategy roles at numerous blue-chip companies. He joins FTI from eGain Communications, where as chief financial officer he was directly responsible for all financial, legal, IT and investor relations activities. Prior to this, he was chief financial officer for Pepsi Cola North America's Fountain Beverage Division.

Joe Ricca has an impressive track record in technology sales, demonstrating the combination of technical depth and market understanding necessary to manage a world-class sales and marketing operation. He has more than 17 years sales and management experience, including posts at Dun & Bradstreet Software and JGI/Baan. In his most recent role at Provato, a lifecycle-based contract management and compliance solutions provider, Joe headed a successful worldwide sales team which led to the acquisition of the company.

Bob Wolfert has more than 20 years experience in the financial services industry, including management positions at Citicorp and Chase Manhattan Bank, and six years as senior director of FTI between 1991 and 1997. After serving as CEO of Placement2000 and MVP Consulting, a technology services provider for the financial, insurance and health care industries, Wolfert has returned to FTI to define the next evolution of the company's Financial Enterprise Software (FES) suite of StreetEnterprise products.

FTI expects its recruitment drive to continue as client demand for FES solutions increases. Meriton says: "Our StreetEnterprise products offer a unique solution to the most complex problems facing financial services institutions today. We have already seen a surge in interest among some of Wall Street's biggest companies - as more and more banks wake up to the importance of STP, demand for FES technology can only grow."