London, 8 November 2004 - Level Four Software, the leading provider of best-of-breed ATM testing and development software, has been ranked number 14 in the 2004 Deloitte Technology Fast 50 Awards, a ranking of the fastest growing technology companies in Scotland*. Rankings are based on average percentage revenue growth over five years, from 1999-2004, and thereby truly reflect Level Four's success. Level Four grew 376 per cent during this period. The company's Scottish award has also led to its entry by Deloitte in the Fast 500 that recognises the fastest growing technology companies in Europe.

Level Four has experienced rapid growth in the past five years but 2004 saw
exponential growth for the Fife-based technology company. Following the successful deployment of Level Four tools at leading UK banks, including Royal Bank of Scotland and Abbey, to tackle the challenge of accepting Chip and PIN cards at the ATM, European and Middle Eastern banks turned to the company's experience for their chip card migration needs. For example, Level Four won four Middle East banking customers since the opening of the Dubai office in January 2004.

Over the last year, five additions have been made to the core product suite in response to customer demand and perception of new growth areas in the market. In September 2004, Level Four launched the joint venture Level Four Americas to meet the demand in the Americas for automated desktop ATM testing.

Since 1995, Level Four has come a long way from being a small Scottish technology company with big aspirations to a key international player in the
ATM market. Continued support from Scottish Enterprise has been crucial to Level Four, particularly at this key growth stage. Scottish Enterprise has frequently helped with marketing activity and ensured recognition of Level Four's success in Scotland and the wider market. This has led to this latest award from Deloitte as the 14th fastest growing company in Scotland.

Martin Macmillan, CEO at Level Four, said: "We are very proud to be ranked number 14 in the Deloitte Technology Fast 50 for Scotland and thankful for Scottish Enterprise's support over the years. The award is significant for the company because it highlights that our commitment, enthusiasm and effort over the years has paid off. As we continue to grow, I believe Level Four is well on its way to achieving its target of being the global market leader of ATM testing and development software by 2005."

Joe Noble, chief executive at Scottish Enterprise Fife, said: "This is an outstanding chievement for what is still a relatively young company and we are delighted to have been able to play a part in its success. It is also very encouraging to see that Level Four is another Fife company which has been able to realise its international aspirations without having to move its headquarters out of Fife or Scotland and is the second local firm to make the top 50 this year."

He continues, "Level Four is an excellent example of the growing number of
financial sector organisations which are finding Fife to be an excellent base from which to do business."

William Touche, national managing partner of Deloitte's Fast 50 Awards, said: "Being one of the fastest growing technology companies in the UK is an
impressive accomplishment. We commend Level Four Software for making the Deloitte Technology Fast 50 with a phenomenal 376 per cent growth rate over five years."

In the past year, Level Four has built on its strong UK customer base, which
includes Royal Bank of Scotland, Abbey and Nationwide, and won its first sales in Europe with Den norske Bank in Norway and OTP Bank in Hungary. 2004 also saw leading Saudi Arabian banks Banque Saudi Fransi, Samba Financial and Arab National Bank deploy Level Four's tools. Beyond 2004, Level Four strives for dominant market position in EMEA and is actively targeting North America, Latin America and the Caribbean with the launch in September 2004 of Level Four Americas.

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