CAfIT Appoints Head of Development. Mike Impey joins the CAfIT team to progress strategic development

London, Wednesday, 16th June 2004 - CAfIT Ltd - the specialist UK-based Fixed Income software provider - has appointed Dr Michael Impey as its new Head of Development, with effect from 14th June 2004. Mike joins the company from Insight Investment, where he headed up the IT Projects and Development division. Mike's appointment represents an important addition to the CAfIT management team, adding his extensive business knowledge and implementation expertise to CAfIT's existing base.

Commenting on his new position, Mike said:
"CAfIT has a well-defined position in the marketplace, focusing on dedicated
top-end decision support solutions, with the requisite interfaces to the order management process. This approach is quite different from other offerings and sets CAfIT apart in a fundamental way. Joining CAfIT is an exciting opportunity for me personally on several levels. I believe that I can add a complementary dimension to the existing CAfIT mix, bringing specific experience of delivery and implementation across a wide range of systems. In addition, I can bring an additional business perspective, gained from working in an asset management company.

"CAfIT is a highly focused company that knows where it is going and has embarked on proactive growth. With my organisational background, I believe I can play a significant role in aiding this process at an important time in the company's development. I am greatly looking forward to helping CAfIT realise its expansion plans, and to developing new, leading edge solutions that will continue to add competitive advantage to our clients and differentiate us in the market."

Commenting for CAfIT, Commercial Managing Director Raquel Elias said:
"CAfIT is at a key point in its expansion. Mike's organisational and industry experience makes him a perfect fit for CAfIT as we continue to extend our product and support structure. Additionally, Mike's previous experience of implementing asset management systems will be of great value - particularly with respect to managing new implementations of CAfIT's systems in line with ongoing contract successes. This is a very exciting time for us, and we are delighted to welcome Mike on board."

As one of the UK's leading specialists in front office IT for Fixed Income and Balanced Portfolio Management applications, CAfIT has an established blue chip client base, including ISIS, Gartmore Investment Management, Scottish Widows Investment Partnership, and Credit Suisse Asset Management. The company is also relocating this month to prestigious new premises just outside London, in line with its corporate development plans.

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