Mr. Johnston replaces Joseph J. Murin, who resigned from the position of president and CEO, and from the board of directors.

"The company's board of directors and management wish to thank Mr. Murin for his service and especially his leadership in successfully navigating the company through a difficult restructuring period," said Mr. Johnston. "We wish him well in his new endeavor."

Joseph Murin joined the company as president and chief operating officer in December 2001. He was named chief executive officer in December 2002.

"Basis100's strategic focus on its core business remains unchanged. The senior management team and leadership at the operational level will continue to execute our strategy and build upon the company's core suite of collateral assessment products," added Mr. Johnston.

About Michael Johnston

Michael Johnston has spent more than 32 years in the U.S. financial community and came to Basis100 from Merrill Lynch Credit Corporation (MLCC), where he was the chairman, president and CEO, serving the consumer mortgage and investment market. Mr. Johnston was directly responsible for building Merrill Lynch Credit Corporation as an independent, profitable, self-contained business unit. Under his leadership, Merrill Lynch Credit Corporation was awarded the Malcolm Baldridge National Quality Award in 1997.

Mr. Johnston also served as chairman and CEO of Lender's Service, Inc. from June of 1996 until June of 1998. Additionally, he has served as a member of the Mortgage Bankers Association (MBA) and held a board position with the Residential Board of Governors & Industry Leaders.