Rennick brings 15 years of global finance and software development experience to CPL, having served most recently as CEO of an industry leading Internet security company where he managed several rounds of funding and oversaw developers engineering its proprietary software systems. He has an established history of building and leading successful multimillion-dollar product sales and service organizations with significant technology emphasis. He started his career at the Canadian National Railway Company where he was a senior marketing and operations executive. Rennick holds a BA from the University of Toronto and an MBA from the University of Western Ontario.

"We’re very pleased to have Darren join our management team," said Mike Muscato, CEO of CPL. "He's a respected leader who has proven his ability to manage both software development teams and to build sales and support organizations. Darren has earned praise from his colleagues and has been consistently recognized for his leadership ability and technical achievement throughout his career. He brings a track record for success and a wealth of experience to CPL. I am confident that he will help us take the next steps in our strategy to make CPL a dominant electronic payment systems technology provider."

About Codrington Partners Limited

Codrington Partners Limited develops, acquires, holds and licenses income-producing intellectual property assets. The company focuses on software, patents, trademarks and other proprietary rights underlying information technology directed at the financial services industry. Codrington's technology portfolio principally consists of transaction processing software enabling credit and debit card transactions and other online funds authorization and settlement systems. The principal software products are i24Bank(sm) and authENGIN(sm), a next generation banking application derived from the award-winning ENGIN middleware in deployment at several leading institutions.

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For more information on the Bermuda Stock Exchange (BSX), contact Allen J. Foley at 1-441-292-7212 or afoley@bsx.com. Information is also available at www.bsx.com on Bloomberg at BSX .