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MindFireInc Names Arie Abecassis as President and COO

Press release from the issuing company

Irvine, CA – October 24, 2008 -- MindFireInc, a leading developer and distributor of marketing intelligence and sales automation software, has announced that Arie Abecassis, an IT industry veteran, has joined the firm as President and Chief Operating Officer. Mr. Abecassis brings more than 20 years of experience as a senior executive, entrepreneur and investor in emerging technology and information services businesses. He will focus on building MindFireInc's market share as a SaaS-based web analytics platform for the direct marketing industry.

"With MindFireInc's rapid growth in the last few years, it became increasingly clear that we needed to bring in an executive who could help guide our growth and continue our development as a world-class company. Arie's unique experience and capabilities are a perfect fit for our needs, and we are delighted to have him on board," said Moe Farsheed, MindFireInc's CEO and Co-founder.

Mr. Abecassis was most recently a member of the investment team at Updata Partners, a $500 million venture capital firm focused on software and technology-driven business services companies. At Updata, he was responsible for identifying new investment opportunities and building a team to help support deal sourcing, analysis and execution. Prior to Updata, he held senior level positions at a variety of organizations in the venture capital, media and information services industries, including Thomson-Reuters Corporation and Marvel Entertainment Group.

"MindFireInc is an award-winning, emerging growth company that offers products and services that are highly valued by its clients and partners," said Mr. Abecassis. "Its leading position in the direct marketing industry is evident by the strong brand name that the company has established in a relatively short time frame. I look forward to working with our clients, partners and shareholders to create long-term value."

Recently, MindFireInc earned the #6 position in the 2008 Inc. 500 fastest-growing software companies in America. It also secured an 11th place ranking among Southern California businesses and ranked #152 among the fastest growing private companies in the country. MindFireInc's software is particularly popular among printing and marketing service providers, a partner network of nearly 500 clients who have recognized the value of adding personal interactivity to their print-based campaigns.

In addition to his industry experience, Mr. Abecassis holds an M.B.A. from New York University's Stern School of Business, where he was a Stern Scholar and Beta Gamma Sigma member, and an undergraduate degree from the University of Pennsylvania's Wharton School of Business. He serves on the boards of several private companies and trade organizations.