CITISOFT INC. DRIVES EXPANSION PLANS WITH NEW CEO

Boston - 21 March 2007

- New management team to lead Boston-based consultancy
- Citisoft well-positioned to build on its 20-year success in the marketplace

Citisoft Inc., a leading investment management consulting firm, today announced that Paul V. Migliore has joined the firm as CEO.

Formerly a Partner in IBM's Global Business Services and the US Investment Management Practice Leader, Mr. Migliore brings 21 years of experience to his new position at Citisoft.

Mr. Migliore has hit the ground running - instituting crucial new initiatives for the firm. "I am very pleased to be contributing to Citisoft's stellar work for investment managers," said Mr. Migliore.
"The firm's 20-year history of providing business and systems consulting to blue-chip investment managers world-wide speaks for itself."

While leading the Investment Management Practice at IBM, Mr. Migliore and his team provided strategic, operational and technical consulting to investment management firms, mutual fund complexes, insurance companies, hedge fund managers, family offices and trust companies. In addition, he co-authored a number of white papers including "The Move Towards Straight Through Processing within the Financial Services Community,"
and "Tomorrow's Leading Front Office."

Prior to joining IBM, Mr. Migliore was a Partner at PricewaterhouseCoopers, LLP where he served for 11 years in the investment management consulting practice. Prior to that, he was with Colonial Management Associates, Inc. where he served first as an Assistant Treasurer, and then as a Securities Analyst/Trader.

Mr. Migliore's direct reports include:

Thomas J. Secaur, Managing Director
Joseph K. Morant, Managing Director
Roger S. White, Managing Director

Mr. Migliore stated, "The Citisoft leadership team is comprised of some of the most talented consultants in the business. All of our consultants have dedicated most of their professional careers working within the investment management industry and have a deep understanding of our clients' business issues. Our clients recognize our strategic capabilities; what they are more interested in, however, is the people that we bring to each engagement. Because of their investment management expertise, our consultants work successfully with clients at all levels of management."

Mr. Migliore, 44, earned his M.B.A. in Finance from Boston College in 1991 and holds a B.B.A. in Accounting from Niagara University.

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