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CITISOFT TO DRIVE US EXPANSION WITH NEW WEST COAST OFFICE

- Citisoft Inc opens Los Angeles office in response to growing client
demand
- Colleen Devine appointed Vice President and West Coast Region Manager

17 November 2005 - Boston - Citisoft, the specialist investment management consulting firm, today announced its expansion to the West Coast with the opening of a Los Angeles office. Citisoft already has a number of high profile investment management clients on the West Coast, including Los Angeles-based NWQ, an affiliate of Nuveen Investments.
Citisoft's current West Coast activity includes strategic reviews, outsourcing evaluations and system implementations and it is currently looking to broaden its range of regionalized services.

With over 75% of the world's top 50 asset managers as clients, and an average of 17 years' experience per consultant, Citisoft has one of the deepest pools of strategic, technology and operational expertise in the investment industry.

Colleen Devine, a 17-year investment industry veteran, has been appointed Vice President and West Coast Regional Manager. Colleen has been a Senior Consultant with Citisoft since January 2003, prior to which she was a principal consultant at PWC/IBM Business Consulting Services (IBM BC).

"Citisoft's new Los Angeles office is great news for our firm", says Mike Mendez, President and CEO, NWQ. "Citisoft continues to deliver on its commitments and this move underscores their dedication to us and the West Coast region. We look forward to working closely with them on current and future projects."

Dan Houlihan, President of Citisoft Inc, comments, "This latest expansion was prompted by growth and client demand, and is proof of our commitment to providing regionalized service to our client base around the world. This recent growth has been both organic and a natural consequence of our acquisition in April by global IT services provider Satyam. With our increased capabilities on the West Coast I'm confident that more investment managers in the region will turn to Citisoft to improve their efficiency and reduce their costs."

Jonathan Clark, Founder and Executive Director, Citisoft in London, comments, "Citisoft has grown consistently on its reputation for extraordinary client service. This move is a testament to that, and both Citisoft and our clients to have such seasoned veterans leading our growth in the West."