PORTWARE STRENGTHENS SENIOR MANAGEMENT TO SUPPORT NEW PRODUCT STRATEGY GROUP

New York, NY – 18 September 2007

Portware, an independent provider of global, multi-asset trading solutions, today revealed ambitious plans for the development of its product suite. Four high profile appointments have been made to strengthen Portware’s global operations and support its new Product Strategy Group, created specifically to spearhead product innovation for buy- and sell-side institutions.

Portware’s technology has become the industry standard for trading single order, portfolio and algorithmic strategies. Portware’s new Product Strategy Group will enable it to continuously evolve its global multi-asset trading system to deliver customized and off-the-shelf trade and order management systems for its diverse buy- and sell-side client base.

Jim Feingold and Harrell Smith have been appointed as co-heads of the Product Strategy Group and will be responsible for Portware’s product direction. Eric Goldberg, chief executive officer, comments: “Since we launched in 2002, Portware has seen unprecedented growth. Our trading solutions are now deployed in more than 100 buy- and sell-side firms worldwide. The newly established Product Strategy Group, under the experienced leadership of Jim and Harrell, will ensure we effectively manage this growth and our clients’ needs.”

Jim Feingold joins from Progress Software where, as head of North American Sales for Progress Apama’s algorithmic trading products, he played an instrumental role in building the Apama business in the Americas. Jim is a seasoned financial services veteran with more than 24 years of experience working at leading firms such as Merrill Lynch, Laidlaw Capital Management and Bloomberg Financial Markets.

Harrell Smith joins Portware from Celent, where he managed the firm’s global Institutional Securities and Investments Practice. At Celent, Harrell advised leading financial services firms, exchanges and technology vendors on initiatives including algorithmic trading systems development, market structure, M&A, and platform implementation strategies. Prior to joining Celent, Harrell worked in equity derivatives trading at BNP Paribas and as a commodity derivatives analyst for Morgan Stanley.

Also joining Portware’s New York office is Bill James as a senior salesperson for the region and Steve Hovagimyan as chief administrative officer to oversee financial, legal and HR functions. Prior to joining Portware, Bill was vice president and senior account manager at Lava Trading. He has extensive experience in selling OMS and EMS services to leading investment banks and trading firms. Steve was formerly director of Strategic Development at Andrew Davidson & Inc, where he was responsible for financial management, the expansion of the company’s product lines and geographical reach.

Ary Khatchikian, president and chief technology officer, Portware, adds: “Our new appointments have a wealth of industry and management expertise. As the only wholly independent, broker-neutral trading systems provider, Portware offers unparalleled access to market destinations and, with our strengthened team and new division, we are well placed to continue to develop and expand our offering globally.”

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