Xcitek Commences Roll-out of XSP™ Corporate Actions Solution for Edinburgh Operations

London, UK - 24 January 2007

Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that its XSP™ application has commenced roll-out in Edinburgh, Scotland.

XSP will implement its extensive Corporate Actions Data Management components, its web-based eTRANâ„¢ (Electronic Tracking Response and Notifications) and ISO messaging modules for the notification and response capture of elections processing to streamline client communications.

Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data scrubbing tools, workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitises data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications and elections via its web-based module, eTRAN, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.

Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek, said, “This launch of XSP in Scotland is an indication of our continuing success in securing new global opportunities. This once again demonstrates the functionally-rich and highly-scalable nature of XSP for maximum operational efficiency in Corporate Actions processing. We are excited about this new opportunity to grow our client base whilst continuing to provide world-class products and services.”

Brendan P. Farrell, Jr., Chief Executive Officer, XSP, at Xcitek, said, " At Xcitek, we strive to develop the most flexible and comprehensive functionality for our solutions to meet and exceed our clients’ evolving business needs.

Implementation in Scotland further solidifies our position as market leader in Corporate Actions processing as we continue to expand in the European market."

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