These initiatives include, most notably, the Company's recent confirmation that its wholly owned subsidiary, Automated Equity Finance Markets, Inc., is working with the Options Clearing Corporation (``OCC'') to operate AQS, a centralized securities lending platform. AQS will commence operations in early 2009.

The key additions who will support this effort, as well as the Company's future growth plans, include:

• Mark Baumgardner, Head of Clearing Member Services. Mark joins Quadriserv after 22 years with the Options Clearing Corporation ("OCC"). He most recently served as Vice President of Business Development after gaining experience in the Operations, Quality
  Assurance and Risk Management functions at the OCC. In his role as Vice President, Mark supervised the Stock Loan Hedge Program and worked extensively with OCC clearing members.
• Andrew Lazar, Head of Borrower Sales. Andrew joins from UBS Securities, LLC, where he served as a Director in the U.S. Institutional Rate Product Sales Department. During his 11 year tenure at UBS, Andy was responsible for the direct product distribution of U.S. Libor-based derivatives, U.S. Treasury and Agency bonds, as well as the attendant Repo transactions to hedge funds, central banks, and asset managers.
• John Fegan, Head of Operations. John joins from TIAA-CREF, where he supervised a multi-billion dollar equities portfolio and oversaw daily settlement of cash and securities for both domestic and international equities lending. John has over 28 years of experience in the securities lending industry.
• Alex Silenok, Head of Technology Integration. Alex joins from NYFIX, where he served as the Vice-President of East Coast Professional Services of NYFIX's OMS Division. During his 5 year tenure, Alex was responsible for product implementations and account management.
• Baha Rudin, Head of Customer Integration. Baha joins from RiskMetrics Group, where she was a Director of Hedge Fund Sales, and was responsible for new business and renewals. Baha began her career over 9 years ago as a proprietary equity trader.

"We believe the securities lending industry is transitioning to a more transparent, efficient, market-based approach -- an evolution for which Quadriserv has been a leading advocate and innovative force,'' said Tom Perna, Quadriserv's Chief Executive Officer. "We are now poised to enter the market with AQS, an automated marketplace for securities lending and borrowing, centrally cleared through the Options Clearing Corporation. Our recent hires in operations, sales and marketing will significantly advance these efforts, and we are very pleased these highly-skilled professionals have joined the team.''

"Our ability to continue to invest resources to expand our team and seize the opportunity before us reflects the support and confidence of our strategic investment partners,'' Mr. Perna concluded. "They have been instrumental in our accomplishments to date and share our vision of a new, marketplace-based model for the industry going forward.''