Allan Fried Joins Cypress Software as Senior Vice President of Product Management.

New position to bolster development and management of company's loan origination software

NORTH RICHLAND HILLS, Texas -- Cypress Software Systems LP has named Allan Fried senior vice president of product management. His responsibilities include managing Cypress' product roadmap and software release rollout process in addition to quality assurance. He brings more than 25 years of financial services and product management leadership experience to the position.

"Allan has a unique blend of technology competence, client relationship management, strong market research and problem solving skills that make him a perfect fit for this new position," said Stephen G. Sargent, president and chief executive officer at Cypress. "His experience at institutions like Equifax Information Services, Appro Systems, Alltel Information Services and Georgia Federal Bank illustrates his ability to enhance our Mark IV, BizMark and AppMark products while building client relationships and bolstering our quality assurance."

Prior to Cypress, Fried was assistant vice president of product management at Atlanta-based Equifax Information Services Inc. where he managed the Global Product Management group's software solutions for the automotive and mortgage industries through conducted market research, sales support and new product innovation.

Before that, he was director of product management at Appro Systems Inc. in Baton Rouge, La. where he helped design the company's Microsoft .NET-based loan origination software and supervised overall product management before the company was acquired by Equifax.

Fried also co-founded Norcross, Ga.-based Corporate Solutions International and was responsible for the design, implementation and release management for an image-enabled loan origination software system. That company was subsequently acquired by Alltel Information Services Inc. of Little Rock, Ark. in 1999, where Fried served as product strategy manager and was responsible for the strategic vision of the company's loan origination system, third-party solution partner relationships and change management.

In addition, Fried's financial services experience included positions held at Georgia Federal Bank in Atlanta and Continental Federal Savings Bank in Fairfax, Va.

Fried received his bachelor's degree from Rider University in Trenton, N.J., and he is a member of the Mortgage Bankers Association, American Financial Services Association, Consumer Bankers Association and National Automotive Finance Association.

About Cypress Software Systems

Headquartered in North Richland Hills, Texas, USA, Cypress Software Systems LP is a leading developer of automated credit application decision support technology. Cypress provides community and regional banks, finance companies and credit unions with loan application decision and tracking tools equivalent to those used by the largest national lending institutions. Clients, nationwide and in 16 countries, use the company's flagship products, Mark IV and BizMark, to quickly and consistently process consumer and small commercial loan applications. Cypress Mark IV offers a flexible, risk-based processing approach that includes tracking consumer loan applications from point of entry to point of decision. Cypress' BizMark loan automation software processes commercial loan requests within a customer relationship management environment. Both products may be licensed in the bundled Cypress Suite and are offered in either an application service provider (ASP) or traditional business model. The company's product line also includes AppMark, an ASP-only consumer lending solution for community banks with assets of $250 million or less. Web Site: www.go-cypress.com.