Silicon Summit Technologies Appoints Tom Ricciardi Executive Vice President of Business Development and Sales

Business Wire, May 9, 2000

Business Editors and Technology Writers

FOSTER CITY, Calif.--(BUSINESS WIRE)--May 9, 2000

Ricciardi brings more than two decades of sales, business

development, and management experience

Silicon Summit Technologies, Inc. (SST), the leading provider of eBusiness electronic trading solutions for the securities industry, today announced the appointment of Tom Ricciardi as Executive Vice President of Business Development and Sales. SST's B4B Order Management System and FIX connectivity solutions are used by leading industry firms to realize greater efficiencies in their trade processing and Buy Side/Sell Side connectivity. A 25 year veteran of sales, marketing, business development and client services management in financial services, trading, operations and risk management application systems, Mr. Ricciardi will oversee SST's rapidly growing worldwide sales operations and will be responsible for identifying new market opportunities and expanding SST's leadership position in the business-to-business e-commerce securities industry.

"Tom's expertise in financial industry coupled with his forward thinking in business development will help us move ahead rapidly as we innovate creative eBusiness electronic trading solutions and services," said Larry Gusto, President and CEO of Silicon Summit Technologies, Inc. "Tom's solid experience will play an instrumental role in developing and expanding our global sales operations required to capitalize on the electronic trading services market opportunities. We are thrilled to have him join our senior management team."

Prior to joining Silicon Summit Technologies, Mr. Ricciardi was Director of Americas Financial Industry at Compaq Computer Corporation's Professional Services group and led the Capital Markets business consulting practice. The group's business objective was to engineer and implement an industry strategy, build team of industry specialists and align organization with strategic partners to provide eBusiness critical solutions and integration services for financial industry customers in the capital markets, banking and exchange sectors. The group focused on customer engagements centered around trading operations, eBusiness enablements, risk management and straight through processing.

"In forming Compaq's professional services offering for capital markets customers, it was critical to engage with best-in-class application providers such as Silicon Summit Technologies," said Tom Ricciardi, Executive Vice President of Business Development and Sales at SST. "I am thrilled to have the opportunity to join SST in a strategic role and help develop the firm into its full potential in helping securities industry customers evolve their electronic trading capabilities."

Prior to joining Compaq Professional Services, Mr. Ricciardi was Business Development Director of World Wide Capital Markets for Stratus Computer, Inc. At Stratus, Mr. Ricciardi was responsible for the development of strategic partnerships with financial application providers, and industry strategy and related events, and marketing within the financial services sector. In this role, Tom provided extensive domain expertise to the Stratus world wide sales organization in identifying, developing, and supporting customer engagements across the financial services sector in a business architecture and solution methodology.

Prior to joining Stratus, Mr. Ricciardi held the position of Vice President of Business Development with TPG Financial Systems and ACT Financial Systems in securities lending and international trading systems solutions respectively. In his role with TPG Financial Systems, recently acquired by State Street Bank, Mr. Ricciardi was actively involved in securities lending business solution evaluations with most major custodian banks and brokers. During the 1980s, he was Asia Pacific Manager in Japan for BIS Banking Software and a Multi-Country Manager in Latin America for MSA/Dun & Bradstreet Software and was based in Mexico City. Before taking up assignments overseas, he was the Director of Business Development for Soroban Data Systems, a New York financial applications development consulting services company. Prior to beginning his career at IBM, Mr. Ricciardi completed his MBA and BS at New York University and Pace University Graduate School of Business and worked in operations and data processing at the SIA Member Firm of Bruns, Nordeman and Rea, which became Gruntal and Company. Mr. Ricciardi is a long time member of the Securities Industry Association, International Operations Division as well as a member of the Global Association of Risk Management Professionals.

About Silicon Summit Technologies, Inc.

Founded in 1988, Silicon Summit Technologies, Inc. (SST) (http://www.siliconsummit.com) is the leading provider of eBusiness electronic trading solutions and services for the securities industry. SST's product offerings include the B4B suite of products for electronic securities trading, SST's B4B FIX(TM) and B4B FIXML(TM) engines and components and B4B OMS(TM) FIX-based order management system. The term "B4B" is used by SST as a super-set of "B2B" to highlight SST's commitment to being "in business for business," partnering with its customers long after the sale has been made.