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NEWS RELEASE
FOR: Simplex Consulting Ltd.
November 15, 2007
Capital Market Technologies and Simplex announce execution of definitive share purchase agreement
CHICAGO, Nov. 15 - Capital Markets Technologies "CMT" (OTC:PK:CMKT) and Simplex Solutions Inc. ('Simplex') (CNQ:SPLX) announced today that they executed a definitive share purchase agreement ('Agreement') regarding the sale of Simplex's UK subsidiary, Simplex Consulting Ltd ('Simplex Consulting') to CMT. The execution of the agreement completes the negotiations announced in a separate press release issued by CMT. With the execution of the definitive agreement, the negotiations between Simplex and CMT are completed. Pursuant to the Agreement, CMT will purchase all of the share capital of Simplex Consulting in exchange for 5 million common shares out of its treasury. Simplex Consulting Ltd. will become a wholly-owned subsidiary of CMT.
'We welcome Simplex Consulting to our growing family of companies. As one of Europe's leading STP consultancies, CMT will be in a better position to serve the European market and elsewhere,' stated Jack Bouroudjian, Chairman of CMT.
'We are pleased to have reached an agreement with CMT for the sale of Simplex Consulting. This transaction is a win for both companies as it will allow Simplex Consulting to have better access to the capital that it needs to solidify its market position and continue their growth in Europe. We look forward to participating in CMT's growth as shareholders in the years to come,' stated Dan Weaver, CEO of Simplex.
About Capital Markets Technologies
Capital Markets Technologies 'CMT' (OTC:PK:CMKT) is a financial technology solutions company providing innovative solutions to global financial institutions and major corporations. The company has operations in Chicago, Toronto and London and was founded to initially capitalise on the estimated US$30 billion financial technology market
About Simplex
Simplex Solution Inc.'s United Kingdom operating subsidiary Simplex Consulting Ltd., founded in 1997, is recognized as one of Europe's leading STP consultancies. The company specializes in selecting and implementing solutions for the middle and back office for many of the world's leading banks, asset managers, hedge funds and multinationals.
Simplex is publicly traded in Canada on The Canadian Trading and Quotation System Inc. (Symbol: SPLX), with 49,265,603 shares outstanding.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release that are not based on historical facts are 'forward- looking statements' and are prospective. These statements may appear in a number of different places in this news release and can be identified by words such as 'estimates', 'projects', 'expects', 'intends', 'believes', 'plans', or their negatives or other comparable words. Forward-looking statements include statements regarding the outlook for CMT's future operations, plans and statements about future market conditions, supply and demand conditions, forecasts of future costs and expenditures, and other expectations, intentions and plans that are not historical fact. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of CMT. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance those actual results or developments anticipated will be realized.
Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in Capital Markets Technologies reports that will be on file with the US Securities and Exchange Commission.
No Exchange or Securities Commission has approved or disapproved of the information contained herein.
SOURCE Capital Markets Technologies inc.
FOR FURTHER INFORMATION
PLEASE CONTACT:
Philip Walsh
Head of Business Development
Simplex
Consulting Ltd.
Tel: +44 (0) 20 7653 1380
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