IAN DANIC OF ELECTRA INFORMATION SYSTEMS
ELECTED TO BOARD OF DIRECTORS OF ISITC

SELECTED FOR ONE OF THREE OPEN VENDOR REPRESENTATIVE POSITIONS

May 7, 2008 – New York, NY - Electra Information Systems, a leading provider of reconciliation, trade automation and settlements solutions, today announced that Ian Danic, Managing Director, has been elected to the Board of Directors of ISITC (International Securities Association for Institutional Trade Communication). Mr. Danic has been elected to the Board as one of five vendor representatives. In this position, Mr. Danic will collaborate with the other Board members, as well as the members of the various ISITC working groups, to support global securities operations standards throughout the securities industry.

At Electra, Mr. Danic is responsible for managing the company's sales and marketing initiatives to facilitate the adoption of Electra’s market leading solutions throughout the investment management community. Mr. Danic has been an active participant in ISITC since 1991 and brings over 20 years of experience in back office automation to the ISITC Board. Prior to joining Electra, Mr. Danic held positions at Goldman Sachs, S.W.I.F.T. and Reuters.

John Landry, Chief Executive Officer at Electra, said, "We are very proud that Ian has been elected to the ISITC Board of Directors. Ian’s vast experience and his commitment to the goals of the association will help the association achieve its objective of advocating standards that promote and improve securities operations standards throughout the industry."

Genevy Dimitrion, Chair of ISITC commented, “Ian Danic is well-known in the securities industry and particularly in the operations community. Ian's selection as a member of the Board of Directors will make a valuable contribution to our ongoing industry efforts and further advance the goals of ISITC."

Mr. Danic, stated, "I am extremely pleased to accept this position and look forward to working with my fellow board members and industry colleagues to further develop and enhance the standards that encourage efficiency and minimize risk. I would like to thank the members of ISITC for their confidence and support."

The mission of ISITC is to support global securities operations, to promote STP throughout the Industry, to recommend and endorse operating standards that will reduce risk and increase efficiency, and to use the combined expertise of its members to address developments within the industry.

About Electra

Electra Information Systems, Inc. is one of the industry innovators in providing solutions for Data Aggregation, Reconciliation and Settlements. Electra brings unparalleled expertise in delivering highly effective, easily implemented solutions that are used by 22% of the top 250 investment managers and has become a market leader in providing reconciliation, trade automation and settlements solutions.

Electra has long been a supporter of and participant in ISITC since its inception.

Electra customers cover the breadth of the financial services industry, including Custodial Institutions, Banks, Investment Managers, Hedge Funds and Insurance Companies. Founded in 1998, Electra is headquartered in New York City. For more information about Electra’s products and services, visit www.electrainfo.com.

Media Contact:

Kerry Bartlett, Electra Information Systems
212-696-1595
kbartlett@electrainfo.com

381 Park Avenue South    Suite 1413    New York    NY    10016-8806  

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