Press Release

Brabeion Software Expands Executive Team with Enterprise Software Sales Veteran Daniel Carayiannis

Carayiannis to Drive Continued Penetration of Brabeion’s IT Risk and Compliance Software Platform Across the Globe

MCLEAN, VA—July 11, 2006—Brabeion Software, a leading provider of IT security risk and compliance management software, has named Daniel Carayiannis to the newly created position of Vice President, Sales. An experienced enterprise software sales executive, Mr. Carayiannis will be responsible for executing Brabeion’s global sales strategy in targeted vertical markets, including financial services, oil & gas, healthcare and transportation. He will report to Brabeion President and CEO Julian Waits.

"As the demand for our solutions continues to grow in highly regulated markets, now is the right time to add a proven sales executive who understands the security and compliance needs of global enterprises," said Mr. Waits. "There is a huge opportunity for Brabeion to further establish its leadership position in the very fast growing IT compliance software market and we are assembling the team to seize it. Dan will be a great addition to our management team."

Mr. Carayiannis brings to Brabeion more than 25 years of enterprise software expertise. Most recently he served as Vice President of Sales at Intelli7, a network security software company, where he developed and implemented their sales and marketing strategies with Fortune 1000 companies and government agencies. Mr. Carayiannis also served as Vice President of Sales at Intellitactics where his team accomplished five successive quarters of record growth and increased the company’s customer base by 44%. In addition, previously Mr. Carayiannis held senior management positions at Susquehanna Technologies, Landmark Systems Corporation, Falcon Microsystems and Polaroid Corporation.

"Brabeion offers an incredible opportunity with its world class product in an emerging market, strong management team, committed investors, established base of global customers and unique partnership with PWC," said Carayiannis. "I look forward to executing a global sales strategy to ensure that every company interested in addressing their IT compliance needs understands the benefits of our solutions."

About Brabeion Software

Brabeion Software is a critical component of an organization’s strategy to develop a sustainable compliance program that achieves business goals while meeting the requirements of the most demanding auditors. With Brabeion’s solutions, organizations can manage the complete compliance life cycle for information technology to mitigate IT risk more effectively, improve compliance reporting and metrics, and ease the compliance and audit burden. Brabeion is the only software solution to embed PricewaterhouseCoopers’ audit content (i.e., policies, standards, and IT Controls), enabling organizations to take advantage of more than 15 years of information technology auditing experience. Brabeion Software is successfully deployed across vertical markets including manufacturing, finance, transportation, and oil & gas/energy. Customers include Chevron, Norfolk Southern, CIT Group, Novartis, American Airlines, and Burlington Northern Santa Fe Railways. Please visit www.brabeion.com for more information.

Press inquiries:
Yo Delmar, Brabeion Software, tel: 866 710 8118; email: yo.delmar@brabeion.com or Leslie Kesselring, Kesselring Communications, LLC tel: 503 358 1012; email leslie@kesselring.net