ITEL IT&E

    RNS Number : 2380D
  IT&e Limited
  11 September 2008
   


    11 September 2008
    IT&e appoints new CEO

    IT&e Limited ("IT&e" or "the Company")( ASX code: ITE, AIM: ITEL) today announced that it had appointed Andrew Wood as Company CEO
following the resignation of Jim Maranis as Executive Director, Managing Director and CEO.

    Mr. Wood, who joined IT&e as Company CFO in May 2008, brings significant experience to the Company having worked in software development
and business consultancy organisations in Australia, the USA and the UK, such as Management Consulting Group PLC, Object Consulting Pty Ltd
and Corymbia Investments Pty Ltd. He has a strong finance and operations background and extensive experience in business turnarounds.

    In announcing the appointment the Chairman of IT&e, Ellis Bugg, said that while Mr. Wood's industry experience would benefit IT&e longer
term, his skill sets were also particularly compatible with the Company's immediate priorities which were to further rationalise the
organisational structure and product offering without compromising the Company's increasing global profile and to set the Company on a
sustainable profitable footing.

    Mr. Bugg went on to say that he wished Mr. Maranis well in his future endeavours and wanted to publicly thank him for his contribution
to IT&e, especially in taking the RAZOR risk product from a concept to one where significant global recognition and sales have been
achieved.

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    Enquiries/Additional Information:

    IT&e
    Andrew Wood - CEO: +61 2 9236 9427

    Grant Thornton UK LLP
    Fiona Owen: +44 20 7383 5100

    About IT&e Limited 

    IT&e is a technology company dual listed on the Australian Stock Exchange and AIM Market of the London Stock Exchange, specialised in
providing solutions to the global Financial Services markets.

IT&e offers three flagship products, RAZORTM NextSetPTXTM and Monarque�, to financial institutions. RAZOR enables organisations to
effectively address their market, credit and liquidity risk management requirements, both on an enterprise and a departmental basis. Razor
clients include L.C.H.Clearnet Group, ANZ, HSBC, ASX, Federal Home Loan Bank, Pittsburgh, Man Group plc, RBC and Calyon New York. PTXenables
on-line trading of over the counter securities across multiple asset classes (Securities, Money Market, FX, etc.) PTX clients include NAB
and ANZ. Monarque supports trading and treasury management at major banks and broking houses, and comprises modules designed to automate
front-office functions. Monarque clients include Brown Brothers Harriman and the Chicago Mercantile Exchange.

    IT&e is headquartered in Sydney with offices in Melbourne, London, New York and Chennai, offering a highly skilled team of specialists,
providing technology services across the financial markets and risk management business areas.

    For further information about IT&e please visit our website at http://www.ite-fs.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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