Press Release

FERNBACH appoints Christian S. Reisner as the new Country Manager for Austria & Central/Eastern Europe

FERNBACH enhances commitment and plans own Viennese office

Vienna & Luxembourg, 22 April 2008 – FERNBACH-Software, a leading provider of software solutions in the field of Enterprise-wide Value and Risk Management (EVRM), has selected Christian S. Reisner as the new Country Manager for Austria & CEE in charge of the FlexFinance^® Product Suite. The Luxembourg banking software specialist intends consolidating its international expansion strategy and demonstrating its commitment to these growth markets.

In his new position, the Viennese-born Manager will be in charge of selling the powerful FERNBACH portfolio in Austria as well as in the dynamic financial centres of Central and Eastern Europe. He will be responsible for the entire FlexFinance^® Product Suite which encompasses the bank management modules IFRS, Liquidity, Profitability, Basel II, ALM, Margin Optimiser and Regulatory Reporting as well as the lending solution, Loan, for the front and back office.

‘It’s exciting to be facing new challenges and to be able to extend my working activities at international level. I’m thrilled to be part of the FERNBACH team who gave me a really warm welcome,' commented Mr Reisner.

Günther Fernbach, CEO and founder of FERNBACH-Software, adds, ‘We’re pleased to have an international sales professional on board, such as Christian S. Reisner, to deal with the Austrian and Eastern European markets. His main task will be to secure the position of FERNBACH-Software in Austria and Eastern Europe and to acquire new customers for our products.’

Viennese office should follow shortly

FERNBACH plans to open an own subsidiary in Vienna, which is to be opened shortly. The new Country Manager Mr Reisner will be able to promote new customer business and improve the support of on-going customer projects. In this region FERNBACH’s client base contains renowned institutions including Volkskreditbank, which uses FlexFinance^® Accounting, and Raiffeisen Gruppe, which works with FERNBACH’s solution FlexFinance^® Loan.

The new Austrian subsidiary characterises the dynamic expansion course of FERNBACH in Eastern Europe and should release a pulse to the new business in these countries. The move also highlights the success of FERNBACH’s strategy with the help of high quality and customer satisfaction under its own steam.

About FERNBACH

FERNBACH is a global leader of analytical solutions for the finance industry. Modular software bundles for Multi-GAAP accounting, risk, compliance and loan enable our customers to optimise business processes.

FERNBACH offers a sophisticated component-based solution portfolio which ensures faster time to market and rapid implementation of banking requirements thus mitigating risk and ensuring quality.

Our customers worldwide benefit from our combined expertise to overcome challenges and to provide solutions for future success. FERNBACH innovates to maximise the performance of our clients.