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Panopticon appoints two senior executives to meet strong market demand

Stockholm, Sweden, October 6th, 2004 - Panopticon, the leading supplier of real-time visualisation tools to the financial market, today announced the appointment of two senior executives - Alan Burstein has joined the US team as regional sales director, and Shaun Proudfoot has joined as Panopticon’s UK sales director.

"I am delighted to join Panopticon in its continuing effort to develop a strong presence in the asset management space," said Shaun. "Panopticon appealed to me as a company that combines superior technology with expertise in the financial markets, providing customers with leading edge applications."

Shaun has over 23 years of business experience within the financial services market place selling software and services to the financial services community. He will be in charge of UK sales and building up the UK sales team. Previously Shaun worked as the business development manager at Xchanging Ins-sure Services where he was focused on selling Business Process Outsourcing within the insurance market. Prior to this he was the head of financial services consulting at Computer Sciences Corporation, responsible for the UK Financial Services Market, leveraging business opportunities in investment banking, retail banking and insurance organisations.

Alan has 15 years’ experience selling software and hardware solutions to large financial institutions at the senior management level. Previously he worked as the national account manager at Tellermate, Inc. He has also worked as regional sales director at Visualize, Inc. and regional sales executive at First American Financial.

"I am excited about the opportunity to work at Panopticon," said Mr. Burstein. "Panopticon is uniquely positioned as the leading provider of real-time visualisation tools for the financial industry because of its deep domain expertise as well as leading-edge technology solutions. Combining these strengths with an increased emphasis on improving business processes will enable Panopticon to continue being the vendor of choice to financial companies."

"We are pleased to strengthen our international sales teams with Alan and Shaun," said Willem De Geer, CEO of Panopticon Software. "We are very serious about expanding our market reach internationally and Burstein’s and Proudfoot’s previous experience in financial services are valuable additions to our team."