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Appointment of Brad Bolnick as US Vice President of Sales and Increase of Sales Organization Supports Growing Market Demand for Media Company Software Solutions

TAMPA, Fla., July 21, 2006 – SAXOTECH, a leading software development and systems implementation company exclusively serving the media industry, today announced the appointment of Brad Bolnick as vice president of North American sales, and a major expansion of its North American sales organization.

Bolnick has more than 17 years of sales and leadership experience in both enterprise software application and consulting, including successful sales leadership roles in major enterprise applications companies such as PeopleSoft, J.D. Edward, SAP and QAD.

To support the growing market demand for integrated software solutions used by newspapers, magazines and broadcast media companies, SAXOTECH also has substantially increased its North American sales and pre-sales support organization with the addition in June and July of seven software sales professionals.

“I am delighted to welcome Brad and each of our new sales managers to our team,” said John Blyzinskyj, executive vice president of global sales for SAXOTECH. “We’ve experienced five consecutive years of growth in the North American market, and 2005 was another year of record annual revenue and continued profitability. Our market penetration has continued to grow in 2006 and has enabled us to aggressively recruit extremely high quality individuals.”

Bolnick joins SAXOTECH from QUMAS, the enterprise compliance management software company, where he was vice president of U.S. sales. Previously he was director of sales, life sciences, with PeopleSoft. Newly appointed sales managers are joining SAXOTECH from companies within the publishing software segment, as well as from other enterprise-class software companies.

“The media industry is experiencing an exciting time of change and I’m thrilled to join a team that is at the forefront of this shift in how consumers interact with traditional news organizations,” said Bolnick. “We’ve attracted a strong team of industry veterans, as well as top-notch enterprise software sales professionals expanding our ability to provide a valuable consultative approach in the time of dramatic change.”