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Scivantage President and CEO Wins Ernst & Young Entrepreneur Of The Year® 2008 Award for New Jersey

Jun 23, 2008

Award Recognizes Adnane Charchour for Entrepreneurial Excellence

JERSEY CITY, NJ June 23, 2008 - Scivantage, a leading provider of web-based, front- and middle-office technology solutions to the financial services industry, today announced that its President and CEO, Adnane Charchour, received the Ernst & Young Entrepreneur Of The Year® 2008 Award for New Jersey.

According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Mr. Charchour was selected by an independent panel of judges, and the award was presented at a gala event at the Marriott Teaneck at Glenpointe on Thursday, June 19, 2008.

"I am truly honored to have won this prestigious award, and that the panel has recognized Scivantage's extraordinary accomplishments and the dedication of our employees," said Adnane Charchour, President and CEO of Scivantage. "Each and every one of our employees are entrepreneurs in their own right and it is their hard-work and commitment that makes awards like this one possible."

Serving more than 50 leading financial institutions, Scivantage continues to drive innovation across critical areas of the front- and middle-office by automating and optimizing business critical processes to generate operational efficiencies and help drive sustainable competitive advantages for our clients. Our solutions allow financial institutions to leverage existing investments in back and middle-office systems, while offering comprehensive applications that span the workflow of financial professionals and support the complex investment needs of the retail investor.

The Ernst & Young Entrepreneur Of The Year awards celebrate their 22nd anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.

"Ernst & Young is pleased to honor outstanding business leaders such as Adnane Charchour," said Keith Brownlie, Ernst & Young Entrepreneur Of The Year Program Director for New Jersey. "Winners of the Entrepreneur Of The Year award build leading businesses and contribute a great deal to the communities around them. Their success helps our area grow stronger."

As a New Jersey award winner, Mr. Charchour is now eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2008 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 15, 2008. The awards are the concluding portion of Ernst & Young's Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

About Scivantage

Leading financial institutions depend on Scivantage for essential front- and middle-office applications that deliver transaction-critical data, automate key business processes and drive operational efficiencies. Scivantage's proven, back-office independent brokerage solutions offer a powerful suite of applications that span the workflow of financial professionals and support the complex investment needs of the retail investor. From online trading and event notification management to automated account opening, maintenance and funding, Scivantage enables financial institutions and financial professionals to dramatically reduce operational costs, strengthen customer relationships and improve productivity. For more information, please visit www.scivantage.com or contact us at +1.866.724.8268.

Enabling Financial Transactions. > Automate > Connect > Transact

About Ernst & Young's Entrepreneur Of The Year

Ernst & Young's Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential.

For more information, please visit www.ey.com.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

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