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Press Release

Scivantage Recognized for Second Consecutive Year on Deloitte's Technology Fast 500

Nov 18, 2008

JERSEY CITY, NJ November 18, 2008 - Scivantage, a leading provider of web-based, front- and middle-office technology solutions to the financial services industry, announced today that it ranked number 128 on Deloitte's 2008 Technology Fast 500. This announcement follows Scivantage's top 25 ranking in Deloitte's Technology Fast 50 Program for New York, New Jersey and Connecticut.

Deloitte's 2008 Technology Fast 500 is a ranking of the 500 fastest growing public and private technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2003-2007.

Scivantage President and CEO, Adnane Charchour credits the company's 1,495% revenue growth over the past five years to Scivantage's proven commitment to innovation and strong client relationships. "Scivantage is extremely proud to be recognized for the second year in a row as part of the Deloitte Technology Fast 500. This honor exemplifies our dedication to delivering essential technology solutions that help financial institutions reduce operational costs, automate key business processes and strengthen client relationships."

"Deloitte's Technology Fast 500 recognizes companies who have achieved extraordinary growth in North America's most innovative and competitive market sectors," said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. "We congratulate Scivantage on this significant accomplishment."

The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2003 to 2007.

Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.