Pendo Systems, inc. Continues to Expand Team to Support Company Growth

Newark, NJ - 20 October 2010

Pendo Systems, Inc., a leading provider of financial accounting solutions, today announced that Christy Beni has joined the company as Senior Business Analyst. Ms. Beni will be working in their product management group reporting directly to Teri Henry, VP of Product
Management at Pendo Systems.

Ms. Beni holds an accounting degree from Fairleigh Dickenson University and has worked in the accounting field for over 15 years. This experience includes 12 years at Prudential Financial on the investment accounting side of the company in Operation and Systems serving as Operations Director and Project Management Director. She has an in‐depth knowledge of all types of insurance investments
and was a lead analyst on a larger general ledger initiative.

“We are extremely pleased to welcome Ms. Beni to the Pendo Systems team,” said Teri Henry, Vice President of Product Development. “Ms. Beni brings us added knowledge directly from the practical side of the insurance organization. Not only will this help drive our product development area, but her extensive knowledge of statutory investment schedules will be a benefit to all of our customers and our organization. Our recent release 7.0 introduced many enhancements to our already advanced general ledger processing and Ms. Beni’s experience in that area will continue to help further advance these capabilities which have been lacking in the current legacy platforms. ”

Ms. Beni’s is the first of several appointments at Pendo as they expand to support the growth of their business in 2011. Earlier this year, Pendo Systems hired Lisa Von Redden who has 25 years of experience with the last 15 years serving as Executive Director at UBS. She was responsible for many projects including the implementation and migration to a new investment accounting system within the
Prime Brokerage Business. Ms. Von Redden serves as the SVP of Operations, is a CPA and holds and an MBA from NYU. “Ms. VonRedden has spent the last several months working with both the Pendo team and our customers, evolving the roadmap and strategic development plans for 2011 and beyond,” said Pamela Pecs Cytron, CEO. “This plan included the proper and deliberate staffing additions which includes Ms. Beni”.

“Pendo has seen a positive turn in the market with a specific focus on investment accounting “ says Pamela Pecs Cytron, CEO. “Since entering the market in 2007, the market has been scary for an early stage company. We have sustained a viable business during the downturn and the support and growth of our current client relationships have been a key factor. This time has allowed us to make rapid
progress on our roadmap. BasisPoint 7.0 truly surpasses the current legacy systems and our ease of conversion puts us in a tremendous position as firms begin to rebuild their investment accounting infrastructure”.

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