BT SYNTEGRA APPOINTS CROSBY E.V.P. & GENERAL MANAGER TO LEAD GLOBAL FINANCIAL SERVICES BUSINESS UNIT IN THE AMERICAS

London and New York, 6 April 2004 - BT Syntegra, the systems integration
business of BT, today announced that C. Steven Crosby has joined its global
financial services business unit as executive vice president & general
manager for the Americas region - with effect from March 1, 2004.

Crosby, 52, brings over 25 years of technology and financial markets leadership to BT Syntegra, most recently serving as managing director at BearingPoint, Inc. (formerly KPMG Consulting, Inc.) where he was active in meeting the needs of financial services clients worldwide.

As executive vice president & general manager for BT Syntegra's global financial services business unit for the Americas, based in New York City,
Crosby will have responsibility for sales, marketing, operations and distribution channels for all activities across North, Central and South
America.

Rod MacDonald, managing director of global financial services says "Steve
brings a wealth of experience and knowledge of the financial services
marketplace worldwide, which will accelerate BT Syntegra's development and
presence in the financial services sector. Combining our world-class trading
room systems business with BT Syntegra's innovative systems integration
capabilities will provide a solid platform for aggressive growth. I am
pleased to welcome Steve to the global leadership team and am excited about
the prospect of what we can do together to bring the power of BT Syntegra to
our clients. Steve will also be instrumental in ensuring that BT Syntegra
plays an integral role in the wider development of BT in the Americas."

During his tenure at BearingPoint, Crosby and his teams were instrumental
in the industry's initiatives to achieve global straight-through processing.
As a part of this effort, he served as acting CEO of the global securities
industry's cross border matching utility, GSTP A.G. in Zurich, Switzerland.
Crosby says "BT Syntegra is a dynamic and creative organisation that has
built a solid reputation based on its commitment to high quality products
and outstanding customer service. I relish the opportunity to expand upon
this commitment and ensure that we continue to provide the highest level of
service and support to our customers' mission-critical operations as we help
them face the challenges confronting the global trading and securities
marketplace."

Crosby is a frequent speaker on key trends and drivers impacting the financial services community. Recently he presented at SIBOS, ISITC/IOA, The Bond Market Association, SIA and The Asia Business Forum. His current work in progress is a new book on securities processing in the distributed digital economy.

An Anderson Fellow in Public Sector Organisation at The University of North Carolina School of Public Administration, Crosby holds a B.A. in Political Science and History from East Carolina University and a J.D. from Wake Forest University School of Law.

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