Pendo Systems Opens Canadian Subsidiary

15 September 2008

Pendo Systems, Inc., a leading provider of financial accounting solutions, today announced the opening of Pendo Systems Canada Inc., a Canadian subsidiary based in Toronto. The company also has hired Donna Bristow, Managing Director, who will be responsible for the Canadian office, sales and operations.

“We are expanding our operations into Toronto to address the increasing opportunities in Canada, where the market continues to experience solid growth," commented Pamela Pecs Cytron, President and Chief Executive Officer of Pendo Systems. “Creating Pendo Systems Canada Inc. reaffirms our commitment to this important market — an area of key strategic focus for Pendo Systems. It enables us to provide local business partners and customers with the strengths of our global investment accounting platform, combined with local market needs.”

As part of the expansion, and to lead Pendo Systems into the Canadian marketplace, Pendo Systems has added industry veteran Donna Bristow to the company’s team. A highly-experienced financial services management professional, Ms. Bristow previously was Vice President of Strategic Product and Business Management at Broadridge Financial Solutions. In that role, she managed the Data Smart Business vertical and set the strategic product direction of new and existing products and services for Investor Communications Canada. Ms. Bristow also served as the Director of Business and Market Development at CGI Group and Star Data Systems focusing on Financial Services, Investment and Wealth Management for many years. Ms. Bristow completed the Advanced Strategy Program at the Ivey Business School and provides solid industry experience in business and marketing.

Continued Ms. Cytron: “We are pleased to welcome Donna to Pendo Systems and are looking forward to working with her in growing and strengthening our presence in this important market.”

Pendo Systems will now offer its core product, BasisPoint, to Canadian financial services institutions for superior accounting efficiency. BasisPoint is a global enterprise-grade investment accounting engine that is multi-currency, multi-basis and multi-client. It incorporates a full suite of process modules to manage investment trading and operations from the front office through the back office. The BasisPoint software features a unique, sophisticated functionality that is rapidly becoming the new standard in investment accounting system delivery.

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