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Preparing for Major Product Launch, IA Systems Expands and Promotes Staff

Albany, NY, Nov. 16, 2005 – IA Systems, Inc.—an Albany-based company which develops technology for credit unions, banks, and other financial institutions—is gearing up for the launch of a major new product in the first quarter of 2006. In preparation, the organization is expanding its staff and reassigning responsibilities to support the success of the new product, a suite of next-generation software that helps banks and credit unions process and approve loan applications.

CEO Deborah C. Ryan announced today the expansion of the staff, in conjunction with the following staff promotions:

•   Chris Cazer promoted to Chief Operating Officer

Cazer joined IA Systems in June 2004 as Vice President of Client Services. In his new role as Chief Operating Officer, Cazer will draw on his extensive software development and deployment expertise to lead the Product Delivery Team, which makes up approximately 75% of the organization and includes product management, product development, implementations and services, and client support.

•   Frank Gazeley promoted to Vice President of Business Development

Gazeley has been with IA Systems since 1998 as Director of Sales and Marketing. In his new position, Gazeley will use his industry knowledge and sales skills to secure new distribution channels for our products and sell to large financial institutions. Gazeley will continue his efforts to expand our reach into the financial services industry.

•   Mike McCann promoted to Director of Sales

McCann first joined IA Systems in 1999, and was most recently the Team Leader of Sales. In his new position, McCann will take over the lead for sales functions for IA Systems, focusing on the continuing development and management of a knowledgeable sales force to market innovative company products and services, as well as support our sales and interface partners.  

CEO Ryan also announced that Tami Olheiser was promoted to Vice President of Administration after serving as Director of Finance since November 2004 when she joined the company, and that Michele McLeod will be joining the staff as Director of Human Resources, and Frank Townsend will be joining as Project Manager of ASP Operations.

McLeod and McCann represent new additions to the management team which also includes Ryan, Cazer, Olheiser, Gazeley, and David Van Pelt who serves as Vice President and Chief Technology Officer.

CEO Ryan explained the changes: “By focusing our business into three key areas—a Product Delivery Team, a Product Go-to-Market Team, and an Administration & Support Team—we sharpen and strengthen our ability to successfully launch our new product and support those who buy it, sell it, and integrate with it. The reorganization will also help us maintain and enhance development of all our products, as well as create a business that is scalable, sustainable, and vitally relevant to the marketplace.”

COO Cazer added, “Our new business structure allows us to increase our value proposition as a company. We can bring together our passion for lending, our powerful development and delivery processes, and our ace staff in a way that will strengthen our market vision and technology expertise for years to come.”

With the official launch of IA Systems’ next generation loan processing product, supported by the organizational changes just announced, IA Systems management stated the company was well positioned to secure a great number of new opportunities for everyone involved.

About IA Systems

Since 1991, IA Systems has developed technology to streamline business operations for credit unions, banks, and other financial institutions. In 2000, St. Paul, Minn.-based Securian Financial Group purchased IA Systems, providing the backing of a parent company with $26 billion in assets. Securian is one of the nation’s largest independent distributors of insurance and protection services for financial institutions.

IA Systems’ flagship product, StreamLend Velocity, is a paperless, end-to-end loan origination system that simplifies, automates, and accelerates the lending process using industry-advancing tools such as a user-centric browser interface, configurable workflow, and modular software design. The powerful and flexible tools of StreamLend Velocity automate workflow, speed credit and loan decisioning, integrate sales channels, and manage risk for financial institutions, while decreasing operational costs and increasing loan processing efficiencies.

For more information about IA Systems and its products and services, visit the company’s Web site at www.IASystems.com, write 500 New Karner Road, Albany, N.Y. 12205, or call 800.803.7554 ext. 396.

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For more info, contact: Lisa Santy, 518.862.9200 ext. 396, lsanty@iasystems.com

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