Castek Appoints New President and COO; Peter Jones, Seasoned High-Tech Executive to Take on Top...

Business Editors

TORONTO--(BUSINESS WIRE)--June 3, 2002

Castek Software Factory Inc. has announced the appointment of Peter Jones to the position of President and Chief Operating Officer. Jones will assume direct responsibilities for all aspects of Castek's operations, including

Steve Carson, who is retiring from this position, is staying on in the role of Senior Executive Advisor. Carson will continue as a Director on Castek's Board and take on additional responsibilities as Chair of the company's Audit Committee.

"We're very excited about bringing Pete on board," said Yung Wu, Castek's CEO. "He is the right addition to the strong team we have in place to accelerate Castek's vision and traction in the marketplace. At the same time, I thank Steve for his leadership, his integrity, his sense of humor, and his friendship. Castek is a better place for his influence."

Before joining Castek, Jones was President & CEO of Personus (formerly Caught In The Web, Inc.), specializing in high-end, online, business-process outsourcing (BPO) for enterprise customers in Canada and the U.S. In 2001, Jones led the company's integration with the global IT firm, Cognicase.

Prior to that, Jones was President & COO of SNS/Assure, Corp., the leading third-party provider of point-of-sale and health benefits transaction processing in Canada, with accountability for growing SNS' EDI and e-commerce businesses in the U.S. and Europe. In 1999 Pete led the company through a merger/acquisition with BCE Emergis, the e-commerce subsidiary of Bell Canada Enterprises. He joined SNS after leading Apple Computer's explosive growth in Canada. As President and General Manager, he had total P&L responsibility including sales and marketing, finance and operations, distribution, service and support, legal, corporate development, HR, and IS&T.

About Castek

Castek Software Factory Inc. specializes in the creation of strategic business software for P&C insurance. Founded in 1990, Castek is recognized for its advanced, flexible, core-business processing systems. For more information, please visit www.castek.com.