City Networks Announces Two Senior Appointments

Customer Service, Partners and Distributors to Benefit

London - 17 August, 2004, City Networks, provider of software and services to the treasury, securities and derivatives markets, today announced its ongoing expansion with the appointment of Geoff Chick as Services Director EMEA, and Nick Russen as Director, Partners and Distributors, responsible for the engagement and management of third party relationships, worldwide.

During his 14 year career with City Networks, Nick Russen has made significant contributions to the company in the areas of sales, implementation, support and management. As European Managing Director for the past four years, Nick has grown the business substantially and developed a long list of loyal and satisfied customers. As part of its ongoing growth aspirations, City Networks has placed a greater emphasis on third party relationships to deliver complementary products and services to its client base.

"Having been involved with City Networks' significant expansion in Europe I look forward to driving the worldwide business forward by further developing the partnership side of the business, and extending the current partnerships into new geographical areas" commented Nick. "Bringing the right partnerships together to serve the interests of the customer will make City Networks a more effective provider of business solutions."

Geoff's career spans some 20 years in the industry, and recent roles include Director of Century 24 Solutions and Braid Systems (acquired by Mercator). City Networks is confident that Geoff's industry knowledge and experience of developing service and support functions will prove invaluable in an area where the company has experienced strong growth. One of Geoff's immediate objectives is to review the services infrastructure to ensure that it can continue to maintain a high quality and efficient delivery mechanism, in support of the company's growth plans.

Geoff commented: "Managing the implementation of change is a challenge to all involved. I see my role as one of creating a virtuous circle: if the clients are receiving the range and quality of service they require they will view us as a partner rather than a vendor; the delivery team are motivated by this and will strive harder to develop the range and quality of service. I am delighted to be part of City Networks' continuous drive for improvement."

Costa Christodoulou, CEO of City Networks added: "The value we put on our partner relationships is emphasised by the appointment of a main board director to the role. Nick will ensure that we are well placed to continue to increase the range and quality of our partnerships to deliver value to our customers across the world. The appointment of Geoff will strengthen the services ethic that runs through the core of City Networks. His experience of implementing business process improvement and quality initiatives will make this a positive experience for both our staff and customers. We look forward to continuing our current growth and success with both Nick and Geoff as they progress within their new roles."

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