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Syft Adds Extra Expertise to Board of Directors

Syft Adds Extra Expertise to Board of Directors

Media release, 13-September-07, Syft Technologies Ltd, Christchurch, New Zealand: Syft Technologies, the Christchurch-based company raising capital to accelerate growth initiatives for its unique technology, is adding extra fire-power to its Board.

Syft Chairman, Bill Luff, announced today that a new director had been appointed and a further independent director would be appointed shortly. Dr Andrew Couch, currently a director of NZX-listed investment company Salvus Strategic Investments Limited and Salvus Asset Management Limited based in Auckland will take up his new position on the Board immediately.

Dr Couch began his investment management career in the City of London. He worked for Fleming Investment Management, Guiness Flight and Newton Investment Management as a senior fund manager and director. At Guiness Flight, he managed a team of fund managers investing in 24 developed markets and in developing markets. At Newton, he managed pension fund assets valued at US$3 billion.

Dr Couch has a PhD in physical chemistry from Bristol University in the UK.

Syft announced recently that it had raised $4.4 million by way of a placement of shares to professional investors and shortly it will be undertaking a non-renounceable rights issue to existing shareholders.


About Syft Technologies

Syft Technologies Ltd was formed in 2002 as a hi-tech spin off from the University of Canterbury, New Zealand. Its head office and research and development centre is based in Christchurch, New Zealand. Syft Technologies (UK) Ltd based in Daresbury, UK is home to its European sales and support centre.

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