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VOLANTE TECHNOLOGIES INC., EXPANDS COMMITMENT TO BUY SIDE FIRMS WITH HIRE OF STATE STREET VETERAN AS NEW HEAD OF SALES IN BOSTON

NEW YORK AND BOSTON, MA. – September 28, 2004 - VOLANTE TECHNOLOGIES, INC. the data management and complex messaging solutions specialist, today announced the appointment of Doug A. Payne, a 20 year financial services veteran to lead the expansion of its New England regional sales and business development.

Mr. Payne’s career in the financial services industry spans across product management, sales, marketing and client service as well as focused on developing state-of-the-art solutions designed to solve critical business and operational needs of institutional investors.

Prior to joining Volante, Mr. Payne was Vice President, investment manager solutions for State Street Corporation, Boston. During this time his responsibilities included business development and strategic marketing of investment manager outsourcing solutions and services.

Mr. Payne’s previous role at State Street was Vice President, global sales and marketing, responsible for the positioning and sales of State Street Quadrant®, a leading STP (Straight –Through Processing) solution. Earlier in his career, he was Manager, Financial Markets for NewsEdge Corporation, Burlington, MA, driving real-time news and current awareness solutions into large financial enterprises. Prior to this, Mr. Payne worked as OASYS Product Manager for Thomson Electronic Settlements Group, Boston, MA

"Volante Technologies is already winning business among the investment management community. We are delighted to have Doug join the Volante family. His experience with the investment management community and with STP solutions makes him a real asset in reaching our Boston goals," said Vijay Oddiraju, Chairman and Co-founder.

"I am excited about the opportunity to work with Volante. I have been working for years to help bring Data Management and Straight-Through-Processing (STP) solutions to firms. Volante can reduce costs and greatly shorten project development times using a new approach to message management that leverages an organization's existing infrastructure."