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Mosaic Appoints Retail Banking New Business Manager for Retail Banking Sector

London, 17 October 2002 – Mosaic Software, the global transaction processing software provider, today announced the appointment of Atle Torud as New Business Manager for the retail banking sector in Europe and the Middle East. This latest appointment demonstrates the continued growth of the company, which was recently ranked 58th in The Sunday Times ARM Tech Track 100 league table of Britain's fastest-growing unquoted technology companies.

Atle Torud brings with him more than 15 years of experience in the European banking industry, including 12 years spent at Citibank in London. There, Atle was responsible for selling and maintaining relationships for the bank's payment processing services offered to pan-European corporations and financial institutions. Atle will now be heading up Mosaic Software's drive into the
European retail banking sector.

Mosaic Software's Postilion payments processing platform is focused on providing banks with a single deployment strategy for all their retail delivery channels, irrespective of the nature of the channel itself. Worldwide, Postilion is used by retail banks for switching and routing of electronic transactions, direct driving and control of ATMs, Internet banking, and call
centre transaction processing. By using advanced new technologies like Web-enabled ATMs with Postilion, retail banks are now able to offer high-value transactions like cheque cashing, wire transfers and prepay purchasing on
their existing ATM networks. Mosaic Software is also able to assist and simplify the migration to EMV that is underway in much of Europe and the Middle East.

Commenting on his decision to join Mosaic Software, Atle said, "I am delighted to be working for such an innovative company with such a wide range of client-
driven solutions. Mosaic Software is uniquely placed in the market and the Postilion technology can bring huge benefits to retail banking organisations."