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Cadmus Appoints New Top Team For Future Growth

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Cadmus Appoints New Top Team For Future Growth

Management Restructuring Part of New Growth Strategy

AUCKLAND – 12 September 2005 – Payment solutions company, Cadmus Technology Limited (NZX: CTL), announced today that it has appointed four senior managers who are leaders in their field to head up Product Development, Manufacturing, and the New Zealand and Australian markets. The appointments are part of a comprehensive strategic restructuring by Cadmus of its business to both strengthen and expand its operations, and enable sustained growth and reach beyond the domestic market.

Ian Bailey, Cadmus Technology Managing Director says that he and the Board are excited by the senior appointments as they add to Cadmus’ability to take advantage of both immediate and future market opportunities.

“Appointing these four high calibre people now gives Cadmus a stronger management team bringing added depth, experience and leadership ability to support the company as it experiences new growth opportunities moving forward,” says Bailey.

“As the company grows in New Zealand and overseas, Cadmus will be better served by having such a strong team in place.”

Bailey says that the appointments of Wendy McPhail as New Zealand Country Manager, Dave Ritten as Chief Technology Officer, Fiona Butler, as Manufacturing Manager , and Patrick O’Brien as Managing Director for Australia are all hugely important for the company’s future direction and allow clear focus on these core parts of the business. Current Director International Sales and Marketing Pat McCammon, will extend his role to focus on the opening of new international markets.

“Wendy McPhail, Country Manager, has an impressive background in business management and strategic consultancy, working with leading management consultants Booze Allen and Hamilton in restructuring of the Bank of New Zealand and Nick Marsh & Associates consulting to many leading New Zealand businesses - Wendy has additionally owned and operated the successful international Franklin Covey franchise and leadership centre.

“Dave Ritten, Chief Technology Officer, is an eminent electronics engineer and leading authority on measures to prevent credit card fraud such as EMV. Dave has been involved in designing, implementing, and auditing physical, virtual, and mobile payment system solutions around the world. He has been a director of several technology companies.

“Fiona Butler, Head of Production Manufacturing Limited has 13 years industrial and OEM scalable manufacturing with experience in leadership roles with electrical and electronic manufacturing with companies such as PDL, Fisher & Paykel, Dynamic Controls, and most recently Navman. “

“Lastly, joining the new line up is Patrick O’Brien, General Manager for Cadmus in Australia, where he has held senior positions in the payments and telecommunications industries for over 20 years, with both an Australian domestic and international sales and technical marketing background.. Patrick has also consulted to major banks on market and product strategies as well as establishing local and international distribution networks.”

Additionally, Bailey says that the new management team will allow Cadmus to identify and seize new opportunities.

“Undoubtedly, the new Cadmus management team will also have the ability to expand the operational side of the business including through joint ventures, acquisitions, and deals as and when they arise.”

As a natural consequence of the changes needed for growth, the role of Kevin Joyce as Chief Operating Officer and Company Secretary will be amalgamated and placed under the control of Commercial Director John Nimmo.

ENDS

About Cadmus Technology

Cadmus Technology Limited (NZX: CTL) designs, develops and implements innovative point-of-sale payment solutions for merchant businesses worldwide. The company is New Zealand’s largest manufacturer and exporter of payment terminals, with an increasing customer base developing internationally. The company offers payment and data management solutions, including EFTPOS and data capture terminals, loyalty programs and customer relationship management solutions. Cadmus also provides end-to-end payment solution and data management services for retail, business payment and transactional processing requirements.

Clients include Bank of New Zealand, TAB, Wellington Combined Taxis, Bartercard Australia Pty Ltd, On-Q Business Systems Pty Ltd, eScience Systems Malaysia, Paysys (M) SDN BHD, Coles Myer Australia, Caltex Australia, Harvey Norman Australia, Bi-low, Priceline and Bendigo Bank.

For more information, please visit www.cadmustechnology.com

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