NEWS

Robert Oliphant joins Virtual Subsidiary as Chief Executive Officer

Buckinghamshire, United Kingdom. 1 May 2005- Virtual Subsidiary Ltd (V-Sub), today announced the appointment of Robert Oliphant as president and chief executive officer. Formerly the vice president of international operations at Embarcadero Technologies Inc, Mr. Oliphant assumes overall responsibility for V-Sub’s business.

“I’m excited to join V-Sub and engage in the opportunities ahead,” said Rob Oliphant. “V-Sub is uniquely positioned to address the demands from US companies for a low risk, fast start international EMEA or APAC presence combined with the risk assurance that is so critical in today’s markets. I intend to employ several real world methodologies to accelerate the growth of the business and work closely with our customers and partners to ensure focus on achieving our goals.”

“Rob will be a catalyst to the evolution of our business,” said Ilmars Draudins, member of the V-Sub board. “With over 20 years of experience and demonstrated success, he is a well-established leader in the high tech industry who brings proven knowledge and vision. The Board and I look forward to working with Rob—his joining is an important addition to V-Sub and further validates the business opportunity that the company is pursuing.”

Prior to joining V-Sub, Mr. Oliphant held a variety of executive, marketing and sales management positions with successful technology ventures. Mr. Oliphant comes to V-Sub from Embarcadero Technologies, a leading provider of data lifecycle management tools, where he was vice president of international operations and interim vice president of worldwide sales. Before joining Embarcadero, Oliphant served as vice president, EMEA, Australia, and New Zealand at Bindview Corporation. Prior to his leadership at Bindview, Oliphant held various executive and senior management roles, including general manager of Sausage Software in Australia and director of sales and marketing for BMC Software’s Australia and New Zealand divisions.

About Virtual Subsidiary
Virtual Subsidiary provides business growth, risk assessment, and statutory compliance. Using a combination of services and solutions V-Sub enables clients to focus on core competencies while growing their virtual international organization.

V-Sub’s team of strong performers in sales, marketing, business development, and finance and risk assurance disciplines combine deep domain market knowledge with a track record of getting results. Companies look to V-Sub to accelerate revenue streams, assess risk, and ensure compliance. V-Sub is privately held with locations in the UK and Australia. For more information visit www.v-sub.com.

Contact:
V-Sub Media Relations
media@v-sub.com