SOURCE: CapitalStream, Inc.

August 10, 2005 09:20 ET

CapitalStream Appoints William J. Hughes, Jr. as Chief Operating Officer

Industry Executive Brings Extensive Leadership, Operations and Service Expertise to Seasoned Management Team

SEATTLE, WA -- (MARKET WIRE) -- August 10, 2005 -- CapitalStream Inc., a leader in front office automation solutions for commercial finance operations, today announced the appointment of William (Bill) J. Hughes, Jr. as the new chief operating officer (COO). Effective immediately, Hughes will manage and direct Product Development, Professional Services, Quality Assurance, Customer Support, Finance and Hosting Services.

"Bill brings more than 20 years of leadership and operations experience to our organization, making him ideally suited to manage CapitalStream's aggressive growth plans and coordinate the delivery of our technology solutions to leading financial institutions," said Kevin Riegelsberger, president and CEO of CapitalStream. "We are excited to have Bill join the team as his proven experience in scaling operations to meet the demands of large banks will be a tremendous asset."

Prior to joining CapitalStream, Hughes was executive vice president of operations at Corillian, a leading provider of online banking solutions. He oversaw Corillian's turn to profitability as he managed Engineering, Professional Services, QA, Customer Support, Hosting and Account Management.

Earlier in his career, Hughes was with IBM, formerly Sequent, where he was responsible for managing ecommerce infrastructure and architectural consulting services. Hughes was also with NCR where he lead the team that architected and developed some of the first standards-based (CMIP and SNMP) distributed systems and network management products.

"I am excited to join such an experienced management team that has been able to build a client roster which includes some of the most respected banks in North America," said Hughes. "CapitalStream's FinanceCenter product is the leading product in a high-growth market and this is a great time to join as we expand the operations to meet the tremendous demand for front office automation solutions."

About CapitalStream

Established in 1995, CapitalStream provides software and consulting services that enable commercial banks and finance companies to collaborate, integrate and operate more effectively across their front office operations. CapitalStream solutions streamline data gathering, deal structuring, credit analysis, document generation, booking, account monitoring and ongoing risk management to more effectively originate transactions and manage commercial relationships. CapitalStream transforms the paper-based operations of mid market, small business, equipment leasing and commercial real estate groups by reducing costs, risk and processing times to grow their portfolios without increasing headcount. For more information, visit us at www.capitalstream.com.

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