NETIK HIRES NEW DIRECTOR OF OPERATIONS, ROY LEE, FORMER STANDARD BANK HEAD OF INFORMATION TECHNOLOGY & ADMINISTRATION

London and New York, February 23, 2004—Netik, the market leaders in securities data management and reporting, today announced the hire of Roy Lee as its new Director of Operations for the EMEA region and will report to Mr. Keith Hale, Managing Director in London.

In this new role, Mr. Lee is responsible for all product and project operations within the EMEA region. His experience has been gained within banks, securities houses and software vendors, where he has held senior management and consultancy positions, including IT director and CTO. Lee has a successful track record of delivering multi-million pound, customer-focused projects and change programmes.

Prior to joining Netik, Roy Lee, a 30 year veteran in the industry, served as head of IT and Administration for Standard Bank London Limited supporting business areas including: Treasury, Capital Markets, Risk Management, Securities Trading, Asset Trading and Private Banking.

Also, during his time at Standard Bank, he created and implemented what was then an innovative hub and spoke strategy around the integration of best-of-breed software packages. As a result, he was one of the original pioneers in the adoption and use of transaction middleware.

Before his role at Standard Bank, Mr. Lee was a Senior Director, Information Technology, for Continental Bank NA where he handled a broad range of International Banking activities including Treasury, Securities Trading, Asset Trading and Risk Management.

"Roy Lee’s, depth of knowledge in financial services, proven experience in multiple project implementations, his technical expertise in enterprise-level software development and wealth of industry contacts are all great assets for Netik’s Senior Management team," said Keith Hale, Managing Director. Mr. Hale continued, "We are very pleased to add Roy to the team. With over 30 years of financial services technology experience, Roy will spur our continued growth tremendously."

Said Mr. Lee, "I am thrilled to be joining Netik at a very exciting time for the company and I look forward to being part of their future."

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