WILLIAM B. CROSBY JOINS KESTREL TECHNOLOGIES AS VICE PRESIDENT OF BUSINESS DEVELOPMENT

New York, N.Y., August 9, 2005 – Kestrel Technologies, Inc. today announced that William B. Crosby has joined the firm as Vice President of Business Development.

Mr. Crosby joins Kestrel Technologies’ senior management team, where he will be responsible for developing and implementing new strategic initiatives that will further expand Kestrel’s involvement in the fixed-income marketplace.

"We are extremely fortunate to have someone of Bill’s caliber and experience join the Kestrel team," said Edward Bishop, CEO of Kestrel Technologies. "Bill’s extensive financial services industry knowledge and proven expertise in business development will be a major asset for our firm’s continued strong growth in providing innovative products and services for the fixed-income securities market."

Before joining Kestrel Technologies, Mr. Crosby served as Sales Manager for SunGard Business Integration, a financial middleware/ services vendor specializing in post-trade securities messaging and other Straight-Through Processing initiatives. At SunGard, Mr. Crosby was responsible for business development, vendor relations and the management of the company’s SWIFT Service Bureau.

Prior to SunGard, Mr. Crosby served in the business development area for Javelin Technologies, a wholly owned subsidiary of NYFIX, Inc., a global provider of FIX-based electronic trading solutions and a fully managed FIX network connectivity provider.

Earlier in his career, Mr. Crosby spent more than 20 years in the fixed-income industry, where he worked as a bond trader and broker.

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