Xcitek Appoints Neil Sheppard as Chief Operating Officer for XSP™ Europe

London, UK, 11 July 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today the appointment of Neil Sheppard as Chief Operating Officer with responsibility for managing the company’s flagship Corporate Actions software solution, XSP™ in Europe. In this newly-created role, Sheppard will be responsible for running day-to-day operations and client relationships in support of XSP’s European growth strategy.

Sheppard brings over twenty years of experience in securities processing management, with specific expertise in Corporate Actions. Prior to joining Xcitek, he was Product & Business Development Director at Magenta One Ltd., where he was responsible for developing its Securities Class Actions business – focusing on the company’s operational infrastructure, product development, and sales & marketing efforts. Preceding his stint at Magenta One, Sheppard held project management roles at Union Bank of Switzerland (UBS) within its Wealth Management and Global Asset Management groups. One of his responsibilities was managing the requirements for the implementation of an STP processing solution for Corporate Actions incorporating all aspects of this process, from initial announcement capture through settlement. Prior to UBS, Sheppard was Vice President at Morgan Stanley responsible for representing Position Services for Global Corporate Actions Renovation within the Investment Bank and Prime Brokerage areas. Sheppard also managed global Corporate Actions operations at Dresdner Kleinwort Wasserstein, ABN AMRO Equities (UK) Ltd, and Citibank.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, says, “As we respond to the continuing uptake of XSP across Europe, we feel that it is the right time to further strengthen our already successful sales and client service team with a proven senior operations manager to support our growing business. This new position will leverage Neil's solid track record and wealth of experience, insight, and industry knowledge in the financial services arena, especially in the areas of global Corporate Actions automation and Class Actions solutions. Neil will play a key role in managing and growing the Xcitek business in Europe. The creation of this new position further demonstrates Xcitek’s total commitment to addressing our European clients’ business needs with the world-class technology of XSP, fully supported locally by the most talented professionals in our industry. We are delighted to welcome an executive of Neil’s calibre to our team."

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