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Jack McGonagle Joins Xcitek® as Channels Sales Manager for XSP™

New York, NY, June 13, 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, announced today that Jack McGonagle has joined the company as Channels Sales Manager with responsibility for managing all third-party vendor and partner relationships for its flagship software solution, XSP™. Based in New York, McGonagle will report directly to Brendan P. Farrell, Jr., Managing Partner.

"Jack’s solid track record, extensive background and contacts in the financial software industry will be key in driving XSP’s continued success,” said Farrell. “He fills a critical role in further enhancing our sales infrastructure – managing relationships with our current vendor partners while developing new alliances. XSP’s strategic partnerships with leading global providers bring together our collective expertise to deliver integrated solutions for true straight-through processing (STP) in the automation of Corporate Actions. We welcome Jack to Xcitek and look forward to his success and invaluable contributions to our growth.”

"With the addition of Jack to our global sales team, we can work more closely with our channel sales and alliance partners to address the needs of our diverse client base," said Frank Piraino, Senior Vice President of XSP Client Relationship Management and Sales Operations at Xcitek. “Jack’s extensive experience and management of XSP partners will ensure that our clients receive unparalleled service and support."

McGonagle brings 20 years of experience spanning fixed income trading, sales and marketing solutions to the financial industry as well as a military background. Most recently, McGonagle served as a Sales Director at Iris Financial. In this role, he was responsible for selling and managing sales of equity and fixed-income front-end and middle-office position, risk and allocation systems to financial services firms. Prior to this, McGonagle held individual contributor and management roles in Sales, Client Relationship Management and Quality Assurance at various software solutions providers including Aurora Software and Kestrel Technologies. He also worked at Bloomberg L.P. as a Senior Relationship Manager within the Trading Systems Group.

McGonagle is a Major in the United States Marine Corps Reserve, managing large organizations and forward deployed combat-ready teams. He holds a Master of Business Administration from Northwestern University, and an undergraduate degree from Williams College.