Press Release: October 20, 2004

Nicholas Kalavity recently joined the FNSTAR organization as Senior Advisor and will be focused on the company’s strategic initiatives in addition to leading business development efforts and establishing vital partnerships. Mr. Kalavity comes to FNSTAR with over twenty years of leadership roles and executive management experience in the communications and technologies sectors. Mr. Kalavity founded Kalavity Consulting in 2000 geared towards providing advisory support to notable industry start-ups. Bipin Agarwal, CEO referred to Nick joining FNSTAR as a synergy of getting the right team together to win in the technology business. “This industry requires a team that can identify market opportunities and grow the business exponentially. FNSTAR is committed to creating an exceptional team to win in this business. Offshore management consultancy is not about costing costs but driving value to the clients. “

About FNSTAR:

FNSTAR, headquartered in Englewood, CO, is a global provider of IT solution and services to the Financial services and Telecommunication industry. FNSTAR provides Offshore management consulting services for the telecommunication and financial services industry and a comprehensive suite of integrated software solutions created for retail financial institutions such as banks, brokerages and insurance companies.

FNSTAR's solution has been successfully deployed at tier 1 financial service corporations; and, enables them to offer a complete line of retail investment products while managing supporting activities such as portfolio management, record keeping, regulatory compliance, risk evaluation and management, clearance and settlement.

FNSTAR Integrated Financial Management Solution (fn*IFMS) provides brokerage house, banks with one stop solution brokerage solution for front office, middle office, internet trading, power trading, and correspondent clearing. Financial institutions can replace their legacy systems or expand globally with the integrated brokerage solution. FNSTAR’s cross border trading solution (fn*CrossBorder) enables financial institutions to execute cross borders trade in seamless way taking into account the cross border regulation, compliance, currency and account ownership.

FNSTAR's cross border trading solution (fn*CrossBorder) enables financial institutions to execute cross borders trade in seamless way taking into account the cross border regulation, compliance, currency and account ownership.

FNSTAR offshore management consulting services includes developing a viable offshore strategy for the company, performing program management and IT delivery services. There is a myth that Offshoring delivers dramatic cost savings whenever projects are off shored using the lowest cost vendor. FNSTAR insists that organizations must also take into account the TCO (Total Cost of Ownership), IT budget, business drivers, added cost of offshoring related to knowledge transfer, logistics, data security, service levels, IT processes integration, long term strategy of the application, and long term strategy with the vendor.