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November 08, 2004

LEVEL FOUR RANKED NUMBER 14 FASTEST GROWING TECHNOLOGY COMPANY IN SCOTLAND ON THE 2004 DELOITTE TECHNOLOGY FAST 50

London, 8 November 2004 - Level Four Software, the leading provider of best-of-breed ATM testing and development software, has been ranked number 14 in the 2004 Deloitte Technology Fast 50 Awards, a ranking of the fastest growing technology companies in Scotland*. Rankings are based on average percentage revenue growth over five years, from 1999-2004, and thereby truly reflect Level Four’s success. Level Four grew 376 per cent during this period. The company’s Scottish award has also led to its entry by Deloitte in the Fast 500 that recognises the fastest growing technology companies in Europe.

Level Four has experienced rapid growth in the past five years but 2004 saw exponential growth for the Fife-based technology company. Following the successful deployment of Level Four tools at leading UK banks, including Royal Bank of Scotland and Abbey, to tackle the challenge of accepting Chip and PIN cards at the ATM, European and Middle Eastern banks turned to the company’s experience for their chip card migration needs. For example, Level Four won four Middle East banking customers since the opening of the Dubai office in January 2004.

Over the last year, five additions have been made to the core product suite in response to customer demand and perception of new growth areas in the market. In September 2004, Level Four launched the joint venture Level Four Americas to meet the demand in the Americas for automated desktop ATM testing.

Since 1995, Level Four has come a long way from being a small Scottish technology company with big aspirations to a key international player in the ATM market. Continued support from Scottish Enterprise has been crucial to Level Four, particularly at this key growth stage. Scottish Enterprise has frequently helped with marketing activity and ensured recognition of Level Four’s success in Scotland and the wider market. This has led to this latest award from Deloitte as the 14th fastest growing company in Scotland.

Martin Macmillan, CEO at Level Four, said: “We are very proud to be ranked number 14 in the Deloitte Technology Fast 50 for Scotland and thankful for Scottish Enterprise’s support over the years. The award is significant for the company because it highlights that our commitment, enthusiasm and effort over the years has paid off. As we continue to grow, I believe Level Four is well on its way to achieving its target of being the global market leader of ATM testing and development software by 2005.”

Joe Noble, chief executive at Scottish Enterprise Fife, said: "This is an outstanding chievement for what is still a relatively young company and we are delighted to have been able to play a part in its success. It is also very encouraging to see that Level Four is another Fife company which has been able to realise its international aspirations without having to move its headquarters out of Fife or Scotland and is the second local firm to make the top 50 this year.”

He continues, "Level Four is an excellent example of the growing number of financial sector organisations which are finding Fife to be an excellent base from which to do business."

William Touche, national managing partner of Deloitte’s Fast 50 Awards, said: “Being one of the fastest growing technology companies in the UK is an impressive accomplishment. We commend Level Four Software for making the Deloitte Technology Fast 50 with a phenomenal 376 per cent growth rate over five years.”

In the past year, Level Four has built on its strong UK customer base, which includes Royal Bank of Scotland, Abbey and Nationwide, and won its first sales in Europe with Den norske Bank in Norway and OTP Bank in Hungary. 2004 also saw leading Saudi Arabian banks Banque Saudi Fransi, Samba Financial and Arab National Bank deploy Level Four’s tools. Beyond 2004, Level Four strives for dominant market position in EMEA and is actively targeting North America, Latin America and the Caribbean with the launch in September 2004 of Level Four Americas.

*Note to editors:

Fast 50 Selection and Qualifications
The Fast 50 list is compiled from Deloitte’s nominations submitted directly to the Fast 50, and public company database research. To qualify for the Fast 50, entrants must have had 2000 operating revenues of at least 50,000 Euros. Deloitte researchers examined financial statements to validate operating revenues.

Entrants must also be public or private companies headquartered in a participating region of the UK and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.

The Deloitte Technology Fast 50 annually recognises the fifty fastest growing technology companies in seven regions around the UK and Ireland, based on average percentage revenue growth over five years (1999 to 2003).

Winners of the 2004 Technology Fast 50 for Scotland were announced, recognised and received an award at a regional awards event held on 28 October 2004. Winners of the Technology Fast 50 are eligible for the European Technology Fast 500, which ranks the fastest growing technology companies in Europe. The 2004 European Technology Fast 500 will be announced in December 2004.

For further information on the 2004 Deloitte Technology Fast 50, please visit: www.fast50.co.uk

For further information, please contact:

Martin Macmillan
Level Four Software Ltd.
Tel: +44 (0)20 7661 9322
E-mail: martin@levelfour.com

Jenny Taylor
Write Image Ltd.
Tel: +44 (0)20 7959 5526
E-mail: alexandra@write-image.co.uk

Steven Stead
Scottish Enterprise
Tel: +44 (0)1592 623 085 or (0)1592 643 200
Email: press.office@scotent.co.uk

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Deloitte & Touche LLP is the UK's fastest growing major professional services firm based in 21 UK locations, with over 10,000 staff nationwide and fee income of £1,246 million in 2003/2004. It is a member firm of Deloitte Touche Tohmatsu, a leading professional services organisation, delivering world class audit, tax, consulting and corporate finance services, with around 120,000 people in over 140 countries. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.

Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority.

The information contained in this press release is correct at the time of going to press.

For further information, visit our website at www.deloitte.co.uk

About Scottish Enterprise

Scottish Enterprise is the main economic development agency for Scotland covering 93 per cent of the population from Grampian to the Borders. The Scottish Enterprise Network consists of Scottish Enterprise and 12 Local Enterprise Companies. Working in partnership with the private and public sectors the Network aims to build more and better businesses, to develop the skills and knowledge of Scottish people, and to encourage innovation to make Scottish business internationally competitive.

Informationen zu Level Four

Level Four ist ein hoch spezialisierter Anbieter von Softwarelösungen für Geldautomaten. Die Lösungen versetzen Banken und Zahlungsabwickler in die Lage, das Gewinnpotential ihrer ATM-Netzwerke umfassend zu erschließen. Seit 1995 hat sich Level Four mit seinem Flaggschiffprodukt ATM Channel Development Suite als führender weltweiter Anbieter von Test- und Entwicklungstools für Geldautomaten etabliert. Nach Einführung der Open-Standard-Technologie und im Einklang mit seiner Verpflichtung zu kontinuierlichen Verbesserungen im Geldautomatensektor hat Level Four im Jahr 2006 begonnen, mit Level Four BRIDGE spezielle On-Board-Software für Geldautomaten zu entwickeln. Das Produkt macht sich Level Fours solides technisches Erbe zunutze und liefert die erste, wirklich verteilte Architekturlösung für den Geldautomatenmarkt. Level Four besitzt einen beeindruckenden Kundenstamm an Banken und Zahlungsabwicklern aus der ganzen Welt, z. B. die Royal Bank of Scotland, Lloyds TSB, die National Bank of Dubai, Rabobank, LINK und die Standard Bank of South Africa. Level Fours Unternehmenszentrale befindet sich in Dunfermline, weitere Niederlassungen sind in Maidenhead, Dubai und Charlotte NC.

Weitere Informationen zu Level Four finden Sie unter www.levelfour.com

Nähere Informationen erhältlich von:

Martin Macmillan
Level Four Software Ltd
Tel: +44 (0) 1383 720 118
E-mail: martin@levelfour.com

Hotwire PR
Nicola Truman / Alexia Ward
+44 (0) 20 7608 2500
E-mail: levelfour@hotwirepr.com