CITISOFT EXPANDS TO NEW YORK CITY, APPOINTS HOLLY H. MILLER AS REGION MANAGER

November 17th, 2003 - Boston - Citisoft, the specialized investment management consulting firm, has today announced their expansion to New York City through the appointment of Holly H. Miller as Region Manager. In a move prompted by growth and client demand for localized services in the New York City area, Citisoft has appointed Ms. Miller, a 25-year veteran of the investment management industry, to enable enhanced focus and service to New York area asset managers.

"Citisoft's client list includes many of the top global investment managers who increasingly look to us to develop and execute global technology and process initiatives and that requires us to have a presence in New York," says Dan Houlihan, a Managing Director of Citisoft's U.S. operation. "We are very fortunate to have Holly Miller join our team. She is a proven investment management industry professional and has a distinguished track record of leading world-class teams and enterprise change initiatives."

Prior to joining Citisoft, Ms. Miller held key leadership positions with many of today's leading investment managers. Most recently she was First Vice President and Head of Investment Operations for Bank Julius Baer & Co. Ltd. Prior to that Holly held senior operations positions with J.&W. Seligman in New York and spent over ten years in leadership positions with Citigroup, Inc. in both New York and London.

Ms. Miller states, "My first encounter with Citisoft was as a client and I was highly impressed with the quality service they provided. My experience both as an operations head for investment organizations and as a vendor will help me to bring innovative solutions to Citisoft's clients. I am delighted to join this first-rate organization and assist in this next key phase of expansion."

Ms. Miller will be responsible for contributing to Citisoft's continued North American expansion through the development, alignment and implementation of regional strategies and services. These services will compliment the global and regional services already provided through Citisoft's Boston and London facilities.

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