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GIS Expands North American Staff, Adds Two Senior Business Development Positions

Hackensack, NJ, June 9, 2004 – Global Investment Systems Ltd. (GIS), a global supplier of specialized accounting software for the securities industry, today announced that it has added two senior business development executives to its US staff: David Scheuring and Joyce Karpel.

Scheuring and Karpel will develop new business opportunities in the mutual fund, hedge fund, pension fund and 3rd Party Administrator markets, and each will be responsible for over a third of the US & Caribbean territories.

In commenting on the announcement, Mary Pizzichino, director of US sales & marketing for GIS, said, "I’m very excited to have both Dave and Joyce join our business development team. Their experience and knowledge of the financial services industry will not only provide significant value to our customers and prospects, but will allow GIS to continue to build on our exceptionally strong global client service infrastructure."

Nigel Wilson, GIS chief executive officer, noted that the hiring of Scheuring and Karpel is especially timely. "Since the launch of our MHEDGE and MPARTNER products late last year, we’re seeing a dramatic increase in interest and new business from the alternative investment marketplace," he said. "In fact, since the first of the year, GIS has already signed contracts with CDL Family Office Services, Clarium Capital Management and Brandywine Asset Management for its alternative investment products. We have also signed contracts with Mellon Bank, Atlantic Capital, and Finter Bank & Trust and more new contracts and alliances are imminent."

Before joining GIS, Scheuring was managing director of Automatic Data Processing, Inc. where he was responsible for the development and maintenance of key accounts. With better than 25 years of experience in the financial services industry, he has held positions at Boston Financial Data Services, Federated Investors and Mellon Bank.

With over 14 years of sales and marketing experience with Fortune 100 companies, Karpel joins GIS from Mobius Management Systems, where as a major accounts manager, she was responsible for developing sales strategy and relationship building with key clients and prospects.

Formed in 1992 after a management buyout from Price Waterhouse, GIS is headquartered in Hackensack, N.J., and has offices in Chicago and Dublin, Ireland. The company maintains over 145 installations of its products throughout the world in 21 countries, servicing more than 3,500 mutual funds, hedge funds and portfolio accounts with more than $300 billion in assets under management.

Its products include: MFACT®, GIS’ highly flexible fund accounting and administration system, used by hundreds of mutual funds and trusts worldwide; and MSHARE®, a completely scaleable transfer agency and shareholder record keeping system that supports both retail and institutional investment funds. GIS also offers the MPARTNERSM and MHEDGESM product suites which provide specific functionality for partnership accounting and tax reporting, managed futures funds, and for "fund of funds" accounting. More information about the company and its products and services can be found on its web site.