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Kx Systems to Open Sales Offices in Frankfurt and Tokyo

Palo Alto, February 24, 2003: In response to the international financial community's growing interest in its software, Kx Systems is opening sales offices in Frankfurt and Tokyo this March. Both offices are to be staffed by First Derivatives, Kx’s strategic worldwide partner for sales and services. The new offices are field satellites for Kx Systems' European headquarters office in the UK.

The Tokyo office, located in the Hibiya district close to government institutions, is operated by John Conneely, Business Development Executive at First Derivatives, who has a background in Finance and Investment. The Frankfurt office, located in the city's banking district, is operated by Susan Masterson, Business Development Executive at First Derivatives.

"Kx is delighted that our partnership with First Derivatives has resulted in additional talented staff to help expand our global presence," said Janet Lustgarten, Kx Systems CEO. "We look forward to serving European and Asian markets with locally based resources."