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January 10, 2000

Proposed Acquisition Of Singapore-Based Derivatives Software Company Contac

COMPANY PRESS RELEASE: Rolfe & Nolan, a market leader in software solutions for the Futures and Options industry, announces the proposed acquisition of Contac, a supplier of exchange traded derivatives software to companies in SIMEX.

By CBR Staff Writer

The maximum consideration for the Acquisition is approximately £15.4 million, consisting of an initial consideration of £5.0 million, £3.1 million being the deferred consideration and up to approximately £7.3 million being the Earnout Consideration;

The acquisition will be earnings enhancing in the first year of integration;

Rolfe & Nolan currently offers its multinational client base e-enabled, straight through processing solutions to the derivatives market-place from eight offices;

Contac’s principal windows-based software, CTMS21, complements Rolfe & Nolan’s product offerings and is widely used in the Asian Pacific markets of Singapore, China, Taiwan and Malaysia, hence bringing support infrastructure, a wider product range and larger customer base to the enlarged group;

Commenting on the acquisition, John Lodge, Chief Executive, Rolfe & Nolan Plc said: Our mission is to build on our established position as a market leader and existing strong client base. This earnings-enhancing acquisition will further ensure that we meet the global demands of the exchange traded derivatives industry.

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