Board

> David Ure, Chairman
> Michele McGovern, Chief Executive Officer
> Richard Vaughan, Founder, Chief Strategy Officer, and Director
> Peter Skinner, Apax Partners
David Ure, Chairman

David recently retired from Reuters after a long career where he was on the main Reuters Board and in his last position was strategic advisor to the Board with responsibility for group strategy, marketing and new business development.

David joined Reuters as a trainee journalist in 1968 and worked in all facets of Reuters' operations and strategy. He was responsible for Reuters' acquisition of Teknekron and the public offering of TIBCO Software, and he led the project resulting in the creation of Radianz, the Reuters/Equant joint venture, to create a financial market extranet. In addition to his role on the Reuters Board, David was Chairman of Radianz and served as a non-executive Director on the Boards of TIBCO Software, WebEx and Woolwich Bank. He is currently a non-executive Director of Blackwell publishing and Independent Television News (ITN).

Michele McGovern, Chief Executive Officer

CEO of Iris, Michele brings 20 years of experience in financial services technology executive and sales management, product development, marketing and finance.

Prior to joining Iris, Michele founded and served as managing partner of Ferous, a business acceleration firm that provides sales, business development and marketing services to emerging financial technology companies. She was president and CEO of Argenesis, a subsidiary of publicly traded TenFold Corporation, which delivered enterprise-scale technology solutions to the world's leading securities firms, including trading, institutional billing, securities lending and wealth management. She was also founder and president of McGovern Group, a financial services technology consulting firm that served the United States' largest asset managers and banks.

Michele continues as board member and advisor to Ferous and sits on the board of Xtiva Financial Systems, a provider of sales compensation solutions to the brokerage industry. She is also a CPA.

Richard Vaughan, Founder, Chief Strategy Officer, and Director

Richard Vaughan co-founded what has become Iris Financial in 1990. He has over thirty years' experience in the development of securities-related information systems. His work experiences include having held senior management positions in proprietary trading and investment management organizations. Prior to founding Iris Financial he was senior vice president and head of systems development for Wells Fargo Nikko Investment Advisors (now Barclays Global Investors).

Richard moved to UK in 1999 to establish the company's presence in Europe; subsequently the London office has become an engineering center and the company headquarters.

Peter Skinner, Apax Partners

Peter Skinner joined Apax Partners in 1994 to play a line management role in leveraged transactions where management needed reinforcement, and in turnarounds, where existing management had failed. Prior to joining Apax Partners he had spent 10 years with Plessey in a variety of manufacturing roles before joining ITT at its European headquarters in Brussels to oversee telecommunications projects.

On returning to the UK, he became general manager of STC Telecommunications' manufacturing operations. In 1987, he joined British Telecommunications (BT) as director of its manufacturing operations and in 1989 was appointed director of BT's mobile communications division, a 200 million pound business. From 1992 he was made responsible for customer service for BT's UK business customers. He had recently acted as chairman of Tertio.

Peter graduated from Aberdeen University with a degree in English.

Iris Financial has proven time and again that they have deep understanding of the unique needs of global banks and can deliver powerful, reliable technology solutions to leading firms in that market.
Masahiro Nakajima
NIKKO SYSTEMS SOLUTIONS
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