Profit Strenghtens its Management Team with New Executive Appointments

February 15, 2005

Helsinki, 15 February, 2005 – Profit Software strengthens its management team, by appointing Sami Toivoniemi, Pekka Lemet- tinen, Sari Törmälä, Pasi Saarikoski and Kaur Nestor as Executive Vice President. The new appointments bring substantial experience to support the growing success of Profit Software.

As EVP of Business Development and Sales in Finland, Sami Toivoniemi is responsible for introducing new service and business concepts for life and non-life companies. Mr. Toivoniemi ensures that Profit’s clients have an access to latest industry insights and best practises. In his role, he heads the Profit’s insurance expert group and looks after the launch of new generation software in Finland.

As EVP of International Marketing and Sales, Pekka Lemettinen is responsible for marketing, sales, partnerships and alliances outside of Finland. Mr. Lemettinen executes new growth driven strategy by implementing expansion in the Northern Europe together with alliance partners.

As Head of Research and Development, Pasi Saarikoski is responsible for ensuring long-term leadership of Profit’s new product based solutions. Mr. Saarikoski leads company’s technology and innovation strategy, including the research, development and architecture.

As EVP of Client Service, Sari Törmälä is responsible for complete client management, including customer projects, solution delivery, quality and support. Mrs. Törmälä is also looking after HR and competence development issues throughout the organization.

As EVP of Software Production, Kaur Nestor holds the responsibility of precise manufacturing and delivery of Profit’s software products. Mr. Nestor ensures the full implementation of R&D roadmap, quality and testing. He also acts as a Managing Director of Profit Software Estonia.

"Today, it is essential to understand how insurance company’s business is changing, and to be able to response to increased cost-efficiency, sales channel and regulatory demands. With an introduction of genuinely new product based approach we are confident to help insurers become even more successful. The new management team is driving this growth and success for the company." says Harry Nyroos, President of Profit Software. About Profit Software

Profit Software, a proven leader in insurance software is dedicated to developing and delivering platform based insurance solutions that enable life insurance and non-life companies to run their businesses more efficiently.

Profit’s Life&Pension and Property&Casualty product suites are based on a parameter-driven, modular platform core, which manages the entire policy lifecycle of all lines of insurance businesses. This enables Profit Software’s clients to achieve immediate cost savings and provides tools quickly and profitably introduce new insurance and pensions products, when meeting the new consumer demands and regulatory requirements.

Profit Software, employing over 100 people, is a fast growing and financially solid company. Founded in 1992, Profit Software is privately held and headquartered in Helsinki with sales and support operations in Tallinn, Stockholm and Warsaw. Profit Software’s products have been deployed for more that 40 clients in 7 countries.

For more information on Profit Software, please visit www.profitsoftware.com

Contact Profit Software:

Harry Nyroos, President

Tel. 358 9 6817 3302