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Kestrel Technologies' New Product Offerings Lead to Appointment

NEW YORK, NY, November 11, 2004 - Kestrel Technologies, the leading provider of Fixed Income Trading, Risk, and Order Management Systems to the Broker-Dealer and Investment Management communities, today announced the appointment of Scott Decker as Executive Vice President and Head of Sales. An experienced industry professional, Mr. Decker has rejoined Kestrel following a two-year leave.

During his absence, Mr. Decker was Vice President and North American Sales Manager at Sungard Trading Systems, as well as Vice President of Business Development at OM (US) Inc., a predecessor company to OMX, Inc. Mr. Decker first joined Kestrel in October 1998 as an Assistant Vice President of Sales and Marketing. Through a period of rapid growth at Kestrel, Mr. Decker rose to
Vice President of Sales and Marking in charge of North American markets.

In his current position, Mr. Decker will direct Sales and Marketing for Kestrel's industry leading product offerings: RAPTr, a robust, multi-currency, pan-asset, fixed income trading system; Karousel, the industry's only Trade Order Management and Compliance System designed and engineered specifically
to address the complex requirements of fixed-income investors; KonneKT, the industry's first connectivity appliance that provides economical messaging interfaces between disparate trading systems, back-office systems, and ECN's; and Katalyst, an intuitive, web-based infrastructure that provides a comprehensive set of front office functions (real-time matrix pricing, multi-channel quote distribution, and sales management), including the ability to publish live, executable markets over the Internet (effectively, a private-labeled ECN).