EX-INTERBIZZ CEO JOINS BUTTONWOOD TREE GROUP

Fast growing consultancy adds to its c-level calibre staff

London, UK, 27 November 2003 - The Buttonwood Tree Group, a world-class business and technology consultancy focused on the financial services sector, today announces the appointment of Elizabeth Sipière as a group director. Elizabeth is joining the fast growing consultancy to help manage the operations of the company and, in particular, to support the company's next stage of growth and development.

At Buttonwood Tree Group, Elizabeth plans to further develop business models
and processes to ensure the company continues to provide the thought leadership that it has become well-known for. The tier one banks and insurance companies that it counts as customers appreciate and respect the high quality knowledge and wide-ranging experience that Buttonwood Tree Group bring across finance, operations, technology and asset optimisation.

Elizabeth comments, "Buttonwood is unique - it has the resources to invest,
connections at the top of the investment banking community to sponsor new
initiatives, and seems to be a magnet for senior people in the industry that
have new ideas they want to incubate".

Elizabeth was recently CEO of Interbizz Financial Systems Limited, a trade
order management software vendor, where she was brought in to restructure the business and assets. The company assets have now successfully been sold
to a US broker. Prior to Interbizz, Elizabeth was head of global capital markets at HP based in the US. In this role she had responsibility for sales growth, solution and partner strategies, internal funding and regional teams' development.

"Elizabeth's international senior level experience will be a great asset to the team. We are experiencing very strong growth rate and recognise the need to enhance the foundations to enable future expansion and our entry into new services," says Nigel Walder, CEO, Buttonwood Tree Group.

The Buttonwood Tree Group is working with several leading financial institutions to improve the efficiency of their business operations through
cost management and transformation programmes.
Projects include:
- the programme to transform a major bank's wholesale business,
- software solutions for operational risk assisting Sarbanes Oxley compliance,
- operational efficiency and integration across life businesses,
- complex programme management,
- global technology cost reduction,
- asset optimisation including execution,
- correspondent and clearing networks and systems replacement projects.

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