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October 20, 2005

LEVEL FOUR ANNOUNCES CORPORATE RESTRUCTURE AND THREE NEW APPOINTMNETS, AS HIGH GROWTH ATM MARKET ACCELERATES DEMAND FOR OPEN STANDARD TEST TOOLS

Jim Tomaney joins as product director; Henry Sallitt and Ian Booth join Board of Directors

London, 20 October 2005 – Level Four Software, the leading provider of open standards ATM test and development software, has today outlined a company-wide restructure which will enable the company to better support the growing global demand for open standards based test and development software tools. The restructure includes three senior appointments, adding extensive industry experience to the Level Four management team.

Jim Tomaney joins Level Four as product director, from global payments processor ACI Worldwide. Tomaney brings more than 18 years of experience in developing and delivering products for the payment industry and in his new role, takes responsibility for the strategic direction of Level Four’s ATM Channel Development Suite product road map.

Heading up Level Four’s product development and product management teams, Tomaney is also responsible for ensuring that Level Four delivers market-leading open standards ATM testing and development tools, helping its customers worldwide to safely deploy new open standards-based ATM applications.

“We are thrilled to bring Jim on board,” said Nigel Walsh, executive chairman at Level Four. “Jim’s extensive experience in product development means that he is the ideal candidate to help Level Four realise its ambitions for the ATM Channel Development Suite. Jim’s appointment is a coup for the company; he is highly respected in the industry and has an outstanding track record. “

As part of the restructure, Level Four has reorganised its sales and delivery channels into geographic business units for Europe/Asia-Pacific, the Americas and the Middle East. Under the new company structure, Ian Kerr, who joined Level Four in August 2005, becomes business unit director for Europe/Asia-Pacific, while Jorge Fernandez becomes business unit director and CEO of Level Four Americas. Level Four’s Middle East operations in Dubai continue to build on its successes of the last two years.

As a key member of Level Four’s management team, Tomaney will work with the directors of each regional business unit to determine product development in line with market need. With Tomaney’s guidance, Level Four plans to develop a world-class 21st century software product factory for Level Four’s technology solutions.

“The need for open standard testing tools is growing exponentially, as banks around the world come to see the competitive advantage that can be gained though the efficient automated deployment of enhanced functionality at the ATM,” said Jim Tomaney, product director at Level Four. “Level Four is unique in its approach to ATM test and development tools, and I am excited about the competitive advantage that our technology delivers to the end user. “

Before joining Level Four, Tomaney held a number of positions at global payments processor ACI Worldwide. Most recently, as director of payments system development, Tomaney led the Watford-based Payments Engines team within ACI’s Payment Systems Group. He also acted as the product evangelist for ACI’s flagship BASE24-es product line.

In further appointments, Henry Sallitt, a director at Quester, one of the UK's leading independent venture capital groups, joins Level Four’s Board of Directors, as a non-executive director. Sallitt has fifteen years experience in high technology companies both as an investor and in operational management. Since receiving £2 million funding from Quester in July 2005, Level Four has accelerated its development activities and this restructure will help the company consolidate its position as the de facto industry standard for ATM testing.

Ian Booth also joins the Board as an executive director. One of the founders of The Software Partnership, Booth will work with Level Four’s executive chairman Nigel Walsh and CEO Martin Macmillan, to set company direction and provide commercial guidance. Since the trade sale of The Software Partnership in 1995, Booth has acted as a consultant to a number of financial technology software companies.

To better served Level Four’s existing and future customers, and in order to house the planned company growth, Level Four has established a new office in Maidenhead in the UK.

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