QUMAS Ranked as One of Europe's 500 Fastest Growing Companies for the Fourth Consecutive Year

Outstanding long term employment growth earns QUMAS a place on 2005 Europe's 500 Listing

CORK, IRELAND - October 19, 2005 - QUMAS, a leading developer of enterprise compliance, governance and risk management solutions, today announced that it has been listed in the 2005 Europe's 500 which annually ranks the fastest growing European companies. The 2005 Europe's 500 is published by Europe's 500 Entrepreneurs for Growth and supported by Microsoft and KPMG.

This year's five hundred dynamic, entrepreneurial-driven companies who qualified for Europe's 500 have managed to sustain growth since the year 2001, boosting employment and sales at an impressive average annual rate of 14%. Despite the challenging business environment, these champions of growth have created more than 130,000 jobs across Europe in three years. On average each company has created 86 new jobs per year and increased sales by 19.2 million euros per year. QUMAS has increased employment by 33% since 2001.

"We are delighted to be listed as one of Europe's fastest growing companies for the fourth year in a row," said Paul Hands, CEO of QUMAS. "In 2005 we experienced continued strong sales for our compliance suite to life sciences companies, and made significant inroads into the financial services sector. We are expecting 2006 to be another banner year for QUMAS, and we will once again be focusing on hiring talented people to help us scale the company," stated Hands.

Companies like QUMAS grow fast and manage to sustain their growth. It is not only an ability to grow fast that makes these Europe's 500 companies excellent role models for Europe's future. It is also the fact that these 'champions of growth' can be successful in any business sector, whether young or old industry. IT services once again dominate this year's ranking with 111 companies (22% which is up from 15% and second place last year) but manufacturing also remains consistently high - industrial goods account for 18% and, if combined with industrial services, actually outweigh IT with a total of 25% of the five hundred companies. Whereas employment growth is highest in the transport and logistics sector with an outstanding annual average of 23%. QUMAS is one of 111 companies in the IT sector who managed to qualify for Europe's 500.

"We are most encouraged that 22% of Europe's 500 are concentrated in the IT services industry reinforcing that innovation and job creation in technology is thriving in Europe." Ralph Haupter, Senior Director Midmarket Solutions and Partner Group for Microsoft EMEA went on to say, "Midsize business is particularly showing tremendous growth and we are anxious to see this sector continue to drive change to enable Europe to become the most competitive, knowledge-based economy in the world as outlined in the EU Growth Agenda."

The Europe's 500 listing identifies rapidly growing European companies for their employment creation and rapid growth. QUMAS will be officially recognized and honoured for its remarkable business achievements and growth in employment at the Europe's 500 Awards Dinner on 19 November in Barcelona, Spain.

About Europe's 500

Europe's 500 was first published in 1996 and has been published on an annual basis ever since. During this time, more than 4.000 of Europe's high growth companies have received the accolade of being one of Europe's 500 champions of growth.

The listing is intended to focus attention on entrepreneurial achievement and fast-growth European companies. Its focus on job creation and growth in medium sized enterprises is unique and distinguishes it from other business rankings.

 

About QUMAS

With over a decade of experience, QUMAS is the only global compliance software company offering a complete solution to regulated industries. Recognized as the world leader in Enterprise Compliance, Governance and Risk Management, the company has over 250 customer deployments including global leaders such as Fidelity Investments.

QUMAS is the only vendor that offers a suite of products that enables financial services and life sciences companies to achieve complete, enterprise-wide compliance with a broad range of regulations and initiatives including Sarbanes-Oxley, Investment Company Act 38a-1, USA PATRIOT Act, Anti-Money Laundering, 21 CFR Part 11, cGxP, eCTD, Clinical Operations, Regulatory Affairs and Change Control.

QUMAS provides highly configurable applications, ready for validation and deployment within regulated environments. Based on open systems platforms, QUMAS technology integrates seamlessly with existing corporate databases, applications, operating systems and hardware from most major vendors.

For more information visit http://www.qumas.com.

All trade names, trademarks, and service marks are the rightful property of their respective owners.

Contacts:

Michael Kane

Director of Marketing

QUMAS

(978) 257-2179