It is anticipated that David Fife will join the Board of Directors of Earthport at fiscal year end, when Mike Harrison, currently Executive Chairman, will become Non-Executive Chairman.

David Fife will take over all operational oversight and Mike Harrison will, during the transition period, focus on helping David with strategic and business development initiatives.

David (36), an entrepreneur with a track record in Private Equity, Information Technology and Operations & Business Development, has spent over ten years focused on developing, financing and building products and services based on emerging technologies.

In his most recent position, as Managing Director of The Mayfair Group L.P., David served as Group Head of the merchant bank's European corporate finance and private equity efforts.

Previously, David served for over seven years as Chief Executive of Fife Waterfield &Co., a private equity firm orientated around the financial services industry. David was Lead Director in the formation of Affinity Financial Corporation, an online banking company with over US$1 billion in deposits, where he still serves as a Non-Executive Director. David helped take the company from startup to over US$33 million annual revenue in 2005, playing a leadership role in closing over US$18 million in funding.

David was Lead Director for Waterfield Technologies, a market-leading provider of customer service solutions for the financial services and utility industries. In the last few years, Waterfield Technologies, where David remains a Director, has become a leader in voice and web contact centre automation for customers like Banco Santander, GE Capital and Fortis.

In addition David served as President and COO of Greendex a Business-to-Business e-commerce exchange focused on the horticultural industry.

David, who started his career at Goldman Sachs & Co., has a BA from Duke University and an MA from Columbia University.

Commenting on the appointment, Mike Harrison, Chairman of Earthport said, "We are delighted that David will be joining our management team and look forward to his drive, energy and expertise propelling Earthport to its target of becoming the Money Movement Utility of Choice. David also has particularly strong links with the USA where Earthport is finding a ready market for its ability to provide money movement services to organisations, which have international payment and collection requirements as well as domestic ones. David's appointment marks a further step forward in the emergence of Earthport as a force in the international online payment sector."

David Fife, added: "Earthport has a solid banking and network infrastructure and is uniquely qualified to provide a well-developed and cost-effective payment utility for small and medium size businesses. I look forward to working with Mike and the executive management team to capitalise on the firm foundations that have been established following the strategic review last year."