The Board is also pleased to announce that Mr Clive Ingham, a non executive director of the Company, has agreed to take on the role of non executive Chairman of Trace when Mr Perry steps down. Mr Ingham has considerable marketing and strategic experience in the software industry and the Board looks forward to working under his leadership.

As part of this reorganisation, Mr Richard Wolfe, currently the Company’s Chief Operating Officer, will assume the role of Chief Executive Officer of the Company on 2 January 2001.