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CEREBIT EXPANDS MANAGEMENT TEAM

Appoints Fred Duguay as CFO/General Counsel, Mark Mercer as Vice President of Business Development and Art Brady as Vice President of Channel Sales

TAMPA (Jan. 11, 2005) – Cerebit (www.cerebit.com), an innovator of business visibility and governance software, today announced that they have extended their management team with the appointments of Fred Duguay as Chief Financial Officer/General Counsel, Mark Mercer as Vice President of Business Development, and Art Brady as Vice President of Channel Sales. Collectively they bring over 45 years of proven experience from industry leaders like Ernst & Young, IBM and Informix.

“In order for Cerebit to get to the next level we needed to recruit proven talent,” said Scott Blackburn, CEO of Cerebit. “Fred, Mark and Art bring the right balance of experience and entrepreneurial acumen that will propel Cerebit to market leader status in the high-growth business visibility and governance software space.”

Duguay brings over 15 years of experience to Cerebit and assumes responsibility for financial planning and analysis, capital financing, M&A as well as intellectual property and corporate governance. Over his career he has raised over $100 million as well as led acquisitions and divestures both domestically and internationally. Prior to joining Cerebit, Duguay was Managing Director of Angel Group Limited, a regional investment-banking boutique. He also served as General Counsel of CommerceQuest, Inc., a leading software integration and consulting company. He holds B.S. in Economics and Finance from University of Massachusetts and a J.D. from Southern New England School of Law.

Mercer brings over 17 years of experience to Cerebit and assumes responsibility for forging strategic partnerships, and managing various corporate development activities. Formerly a Partner with Ernst & Young LLP in their Technology and Security Risk practice, he provided related services to Fortune clients across the country. Mercer holds a B.S. in Mathematics from the U.S. Naval Academy.

Brady brings over 14 years of experience to Cerebit and assumes responsibility for defining and executing Cerebit’s channel strategy and partner programs. Previously he led channel sales and marketing efforts at CommerceQuest where, as a founder, he helped the company grow from conception to a leader in the business process management and integration market. Brady holds a B.B.A. in Finance and M.B.A. from the University of Notre Dame.

About Cerebit

Tampa based Cerebit builds visibility and trust into enterprise applications by tracking and preventing misuse of business-critical information by authorized users. Their non-intrusive and centrally managed products enable enterprises to gain end-to-end visibility into what users are doing within the context of a business process. In addition, they enable compliance with government regulations and the abstraction of security from applications. By encompassing support for both Web and legacy applications, the Company's products offer enterprises the ability to aggregate and consolidate application logging and security functionality into one cohesive offering. For more information please visit www.cerebit.com.

Contact:
Gary Davis
813.868.1904
gdavis@cerebit.com

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