Wombat Bolsters Management Ranks with Jon Lambert

New York, NY - 5 March 2007

Former TIBCO Executive Joins as CFO

Wombat Financial Software Inc., the low-latency market data experts, today announced that Jon Lambert has been appointed the newly created role of Chief Financial Officer, after having served as an adviser to the company for two years. Lambert’s addition will help position the firm to continue its rapid pace of expansion world wide, having continued its trend of more than doubling revenues again in 2006.

Lambert brings some 20 years of experience in the software industry to Wombat. Most recently, he has been providing Chief Financial Officer (CFO), Chief Operating Officer (COO) and Business Development consulting services to various early stage companies. From 2000 to 2005, Lambert served as the CFO/COO and Secretary of Contivo, Inc., a data integration enterprise software firm. From 1994 to 2000, Lambert served as CFO, Senior Vice President, Board member and Secretary of TIBCO Finance Technology Inc., where he was instrumental in building its international business. Lambert was also CFO, Board member and Secretary of Tibco Software, Inc. (TIBX) prior to and a key contributor to its initial public offering. From 1987 to 1994, Lambert served as audit manager for Ernst & Young, and earned certifications as a California Certified Public Accountant, a Chartered Accountant in England and a Bachelor of Science from Bath University, England.

The announcement comes at a time when Wombat is scaling up operations to meet the demands of a trading technology market that is growing at an unprecedented rate. Recent headlines have made it all too evident how critical a role highly scalable, resilient and performant technologies such as Wombat’s are to operating in periods of peak activity. Jon’s contributions as head of finance and member of the executive committee will play a pivotal role in ensuring the company continues to serve its customers and their evolving needs for consistent service and continual innovation.

“We are fortunate to have Jon join our management team”, said Danny Moore, Wombat’s COO. “The company is sure to benefit from his addition, particularly by leveraging his experience of guiding companies through similar rapid growth as we have experienced over the past few years.”

“Wombat has built up an enviable reputation and has quickly established itself as a leader in the capital markets technology sector globally”, said Lambert. “I recognize commonality between Wombat and many of the successful companies I’ve worked with in the past. The company delivers excellent products, and demonstrates thought-leadership and a commitment to customer service. I look forward to being a part of this team.”

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