These changes will be effective from 1 November 2005.

As COO, Karim will be responsible for the operating divisions of the company. Karim has held various roles within Financial Objects over a period of seven years including Global Sales Director, International Director, Director of the Americas region and, most recently, Managing Director of the WMS Division. Karim became a member of the Board upon completion of the acquisition of WMS in May 2005. Previously, he worked at a number of financial services companies, including Kindle Banking Systems, Kapiti and National Westminster Bank.

Paul Fullagar joined the Board as a non-executive director in May 2004 and has worked in the software industry for 17 years. In his new role as Deputy Chairman Paul will focus on investor relations. Paul's previous appointments in IT include Chairman of Staffware plc for 12 years and senior non-executive director at Marlborough Stirling plc.

Commenting on these changes, Roger Foster, Chairman and CEO of Financial Objects said: "Karim and Paul have proven to be valuable assets to the Company since joining and I am delighted that they have agreed to take on these new roles. These appointments will strengthen the executive team and position it to lead the company successfully through the next phase of development and growth.

I will be remaining as Chairman and CEO, but, as a result of these changes, I would anticipate being able to devote more of my time to the development of the group's strategy and overall business development."