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May 27, 2003

LEVEL FOUR HIRES NEW EUROPEAN SALES MANAGER

Level Four shows it's commitment to expansion in Europe through new sales appointment

London, UK, 27 May 2003 - Level Four Software, a leading provider of ATM test and development software today announce the appointment of Cleopatra Mavredis as sales manager for Europe. Cleo will focus on raising the profile of Level Four in Central, Southern and Eastern Europe and building awareness of it's ATM Channel Development Suite including modules for EMV and TripleDES compliance. This appointment illustrates Level Four's aggressive growth plans in Europe.

Cleo has been working in the payments transactions industry for over 10 years, her experience ranges from working with ATM vendors and Electronic Funds Transfer (EFT) switch companies. She has worked in the US and extensively in Europe, including the UK. Cleo will be based in Milan, Italy.

Formerly, Cleo worked for Oasis Technology, provider of transaction payments software as business development manager responsible for Southern, Eastern and Central Europe. During her time at Oasis she improved awareness of the company's product range and increased sales activity through strategic relationships with new distributors as well as expanding the existing customer base. Experience that will be invaluable for her work with Level Four.

Cleo Mavredis comments, "I am impressed by Level Four's solutions that clearly provide tools in demand by banks. I have worked for several large multi-national companies, so I am excited to be working with a smaller, fast-growing company that is already successful and has a very positive future ahead. I am looking forward to promoting Level Four further in Europe and being part of an important phase in the company's development."

Cleo began her career in the ATM and payments industry as a senior systems engineer with ATM vendor, Diebold International. Initially a technical role, this grew to include pre-sales, sales and marketing plus assistance with business development in EMEA. Following this role, Cleo held the position of country manager at ACI Worldwide for a number of Eastern European countries - Czech Republic, Slovak Republic, Slovenia and Hungary. Moving on to become a sales consultant for Eastern Europe, managing the sales team focused on this region. This was followed by her role as business development manager at Oasis Technology.

"Cleo's experience of working for both an ATM vendor and a major switch company means she understands the different parts of the transaction chain and can work with banks to meet their requirements for end-to-end ATM testing and development. We have a number of interested parties in Europe and I am pleased that Cleo has joined us to further develop these relationships and help make our ambitions in Europe a reality." Martin Macmillan, CEO, Level Four Software.

Level Four's primary software technology is the ATM Channel Development Suite - a comprehensive toolkit that allows financial institutions to develop, test and rapidly deploy new content and applications within their ATM delivery channels. The ATM Channel Development Suite enables financial institutions to offer relevant, personalised and interactive functionality to customers through their existing ATM networks.

Level Four also offer a component to aid banks in the preparation for the imminent introduction of new EMV smart cards. EMV FastTrack enables banks to thoroughly test ATM software before deployment, ensuring a smooth transition for customers. A recent addition to the product suite is 3DES FastTrack, a further component designed to help banks prepare their ATM networks for compliance with the Triple-DES security standard being mandated by the major card networks. In response to other technology advances in ATM security, 3DES FastTrack will include additional functionality to aid banks in the introduction of remote key management strategies and Encrypted PIN Pad (EPP) devices.

About Level Four

Level Four’s integrated BRIDGE suite of open ATM software products have been developed to address the needs of ATM deployers seeking to maximise their investment in the ATM channel. BRIDGE is targeted at banks and ATM deployers who are running, or seeking to run, a modern ATM network based on the industry-wide CEN/XFS open standard. As a true holistic offering, BRIDGE recognises the needs of ATM deployers in the areas of installation, testing and monitoring as well as run-time ATM software.

Since 1995, Level Four has built an impressive global customer base of banks and payments processors including, Royal Bank of Scotland, Lloyds TSB, National Bank of Dubai, Rabobank, LINK and Standard Bank of South Africa. Headquartered in Dunfermline, Scotland, Level Four also has offices in Dubai and Charlotte NC.


For further information contact:

Martin Macmillan
Level Four Software Ltd
Tel: +44 (0) 1383 720 118

E-mail: martin@levelfour.com

Hotwire PR
Alexandra Kedward
Tel: +44 (0) 20 7608 4633
E-mail: alexandra.kedward@hotwirepr.com