NUMERIX APPOINTS STEVEN R. O'HANLON AS NEW PRESIDENT AND COO. Company promotes several key individuals to commercial leadership positions

NEW YORK: May 12, 2004 - NumeriX LLC, the global standard for cross-asset derivatives pricing and risk management software, announced today that Steven R. O'Hanlon has been promoted to the position of President and COO.

In the new position, O'Hanlon's main responsibility will be to drive NumeriX's business strategy to grow company revenues and improve client satisfaction. He will further strengthen partner relationships and evolve the NumeriX product line with client driven features and enhancements. The appointment forms part of the company's aggressive recruitment drive to consolidate current success and move into new markets.

O'Hanlon will be heading up a highly experienced team of people with either dealing room, derivatives technology or accounting backgrounds. Currently engaged as NumeriX executives, Steve's direct reports will assume new job titles under the new reporting structure: Mark Shornick as Chief Financial Officer; Tom Iizuka as Chief Marketing Officer; Nick Haining as Managing Director EMEA; Hiroshi Kawashima as Managing Director for Asia Pacific; and Michael Iver as Senior Vice President Sales for the Americas.

"I'm pleased to be given the opportunity to drive forward a world class organization that is a market leader in financial analytics," says O'Hanlon. "Building on the success we have had in fixed income, I look forward to seizing new market opportunities in areas such as credit risk and risk management."

"This is an exciting time for NumeriX. We are pulling together a highly experienced team of people that will really help us to drive growth," says Dr. Whitten, Chairman and CEO at NumeriX. "O'Hanlon has a solid track record of both building and turning around technology companies. He possesses the requisite management and leadership skills to quickly identify the eminent business issues and his ability to engage top-level business and technology clients and partners will guide us to further success in this competitive marketplace."

O'Hanlon joined NumeriX as Head of Global Sales in January 2002 and will continue to be responsible for Global Sales in the interim.

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