RULE FINANCIAL APPOINTS TCA CONSULTING'S DAVID FIELD AS MANAGING DIRECTOR AND POSITIONS ITSELF FOR NEXT STAGE IN COMPANY’S RAPID GROWTH

London, 17 August 2004 – Rule Financial - specialist banking technology consultancy - today announced the appointment of David Field as Managing Director, with overall responsibility for sales and marketing, delivery, finance and operations. This strategic move occurs as the company enters its next stage of growth; building-on its professional service business to deliver entire projects to the banking industry, from conception through to design, build, test and go-live.

Field brings to Rule Financial 25 years’ experience in the IT industry, across wholesale and investment banking - spending the last twelve years at TCA Consulting. In addition to his role as TCA Board Director, Field headed TCA’s wholesale and investment banking practice, and directed the company’s Singapore operation. Responsibilities included the development and execution of TCA’s strategies, budgets and policies, and management of TCA’s largest ever assignment, a £15m technology integration programme for a securities settlement
business. He also directed a multi-million pound programme to design a strategic corporate banking architecture.

His time at TCA Consulting, and previously McDonnell Douglas Information Systems and Burroughs (now Unisys), has provided Field with broad experience of banking, securities and capital markets, coupled with exposure to a breadth of technologies including enterprise application integration and Service Oriented Architecture.

Marcus Rule, CEO, Rule Financial, says: "Since Rule Financial’s inception in 1997, we have experienced exceptional growth and now have more than 70 consultants. Despite the recession, we are proud to have retained our entire team, without any redundancies. Our mission is to employ people from the business, who know the business so that we can continue to say with confidence
that some of the investment and wholesale banking industry’s best minds are working to solve our clients’ issues. We now look forward to the experience and perspective David can offer us in leading our team with a clear strategy for the future."

Speaking about his new role, David Field, Managing Director, Rule Financial, says: "We believe there is a vacancy for a dominant specialist consultancy in wholesale banking IT. We intend to capture that hill. We see significant growth in demand from banks for a full service consultancy spanning business process design, architecture and technology implementation, underpinned by deep banking business domain expertise. We believe in dramatically increasing the value we bring to our clients through a series of ‘project accelerators’ that shorten project lifecycles and speed up delivery of project benefits, underpinned by quality delivery processes."

Field adds: "One of the biggest challenges in the future will be to attract and retain the top talent in the market. We believe Rule has major differentiators in our culture, and in the flexibility of how we work with the best people in the market. This will enable Rule to offer a superior "talent proposition", and to deliver greater challenge, variety and reward to our consultants. The combination of these two provides a platform for above-market growth. The dominant specialist is a most valuable position to hold, which maximises returns for our shareholders, of which the vast majority are our own people."

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