FinArch Announces Appointment of Wallace Yong as FinArch’s Head of Operations for the APAC Region

New Year Continues Trend of Major Customer Wins
and International Expansion

Ghent/Singapore – 3 May 2005 - Financial Architects (FinArch), international provider of financial management software, is pleased to announce the appointment of Wallace Yong as Head of Operations of the newly opened regional headquarters in Singapore, to cope with strong expansion in the APAC region. Based in Singapore, Wallace Yong will be responsible for developing FinArch’s relationships with the APAC banking sector as well as managing support services to FinArch’s client base in the region.

Wallace joins FinArch from Reuters Risk Management Group, where he was most recently Sales & Business Development Manager for the risk management products. Previously, he held other positions in pre-sales, business analysis, implementation, financial training and project management, where he implemented several complex risk management projects for various multinational and local banks. Before joining Reuters, Wallace Yong worked for Midas Kapiti International for four years as banking consultant.

With more than 12 years experience in the business, Wallace has gained in-depth knowledge of banking operations, financial engineering and risk management methodologies in the APAC region.

Dirk De Beule, FinArch’s CEO commented: "We are delighted to welcome Wallace Yong to FinArch; this is a significant appointment for our company. His experience combined with his knowledge of the local business environment, banking and IT, and risk management will bring significant benefits to FinArch’s customers."

During the first quarter of 2005, FinArch has already notched up major wins with tier 1 banking institutions in the US, Europe and Asia. The opening of a new regional headquarter in Singapore was a logical step to take, to cope with the strong demand and expansion in the APAC region. Customers are confirming their trust in FinArch.

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