11 January 2005

11 January 2005 – New York – Cicada is expanding its sales team in response to increasing demand for the company’s reference data management solutions. Cicada is a leading provider of software solutions and outsourcing services for managing, validating and cleansing financial reference data including security, legal entity/counterparty and pricing data.

Carole Mahoney has joined Cicada this month as Vice President of European Sales. Formerly the Director of UK Sales at Soliton, Ms. Mahoney is based in Cicada’s London office and will be responsible for expanding Cicada’s reference data solutions business in the UK and Europe. Prior to Soliton, Carole was with Reuters for 12 years, in sales, marketing and product management capacities.

Ms. Mahoney is reporting to Bruce Schachne, who has been promoted to the role of VP Global Sales. Mr. Schachne formerly served as Cicada’s VP Sales (Americas). Bruce’s expanded responsibilities include managing Cicada sales teams as well as driving Cicada business development and sales strategy globally.

Related to the expansion and increasing depth of Cicada’s sales team, Mr. Ketan ("KP") Bhimani, who serves as EMEA Sales Manager based in Cicada’s London office, will lead the company’s specialized Know Your Customer (KYC) data management solutions effort. KP will drive KYC solutions business development, leveraging and building on the company’s extensive domain knowledge and focused solutions for business entity data management.

In addition, Mr. Richard Bennett, who had been serving as Cicada’s head of UK and European sales, has advanced to a new role for a Cicada alliance company. His responsibilities will include taking a new service to market for this new venture.

Further information on additional Cicada sales organization growth in Europe and the USA, as well as details on Mr. Bennett’s new role, will be made available in a forthcoming news release.

"We welcome Carole to Cicada and enthusiastically look forward to the continued planned growth and optimization of our sales organization," said Hubert Holmes, Cicada Executive Vice President. "With this new recent addition, our sales management structure, and the deepening of our overall sales team, we are ready and equipped to meet the market’s demand for proven reference data solutions in 2005."

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