Faiq Faaiz appointed new Head of MillenniumESP Focuses on internationalising business strategy

Colombo, February 13th, 2008

MillenniumIT has announced the appointment of Mr. Faiq Faaiz as Executive Vice President of MillenniumESP, the company’s independent applications solutions provider serving financial and telecom industries the world over. In his position, Mr. Faaiz will be responsible for managing the continued growth of the company, with a future focus on strategic international initiatives and managed services.

“We are pleased to welcome such a seasoned professional into our executive team,” said Tony Weerasinghe, CEO MillenniumIT. “Having spent a majority of his career with MillenniumIT, Faiq’s extensive experience and reputation both within the organization and in the industry will be a strong asset which will enable him to effectively lead MillenniumESP through its next phase as we continue to execute on our plan for sustained development and profitability.”

Together with Weerasinghe and team, Faaiz was one of the founder members of MillenniumIT in 1996. Having bought over the Open Systems Division of Computerland, they renamed it MillenniumIT with Faaiz taking on roles in Business Development and later on as Head of Engineering. During his tenure at MillenniumIT, he played a key role in laying the company’s foundation with several major clients in Sri Lanka and overseas.

Immediately prior to assuming his new position, Mr. Faaiz was the Head of Business Development at Interblocks Limited, a financial applications company he was responsible for forming. Interblocks was an ‘ambition’ he had always wanted to foster and he spent the past seven years developing the company’s strengths and reputation in Asia, Africa, and the Middle East.

Speaking of his appointment, Mr. Faaiz said, “I am very enthusiastic about working with such an experienced and skilled team. Its significant intellectual capital and strong client relationships position it well for aggressive growth in the coming years. My role in spearheading entry into offshore markets and internationalising this company will be an important challenge.” Under his leadership, he will develop three key areas in the telco and financial industries: Next Generation Networking, Information Security Management and Business Intelligent Services.

“This is a challenge that I am looking forward to taking on,” he said.

About MillenniumESP

MillenniumESP is a trusted IT architecture company and an industry-leading enterprise and telecom solutions provider. MillenniumESP is an independent business of MillenniumIT, the premier applications solutions provider serving the financial and telecom industries the world over. The Company’s automated trading system, Millennium Exchange™, currently powers several stock exchanges and depositories in the United States, Europe, Africa and the Asia-Pacific region. For more information, please visit www.millenniumit.com.