London – November 22, 2004:  Northern Arch today announced the signing of European Venture Partners (“EVP”) to use 42™, Northern Arch’s end-to-end lease management and asset finance system. Implementation of 42™ will commence immediately. The system will be used to support EVP operations in London, Stockholm, and Tel Aviv.

Ross Ahlgren, EVP Director, commented “It was important for EVP and its partners to select a qualified software provider with a system that supports our unique lease structures and our multi country operations. Northern Arch certainly stands out as the premier software company that can provide this support for us well into the future. 42’s unique design will allow us to efficiently manage the entire lending lifecycle on a single system”

Henrik Schroter, Northern Arch Director, said: “This is further endorsement of 42’s ability to leverage new technology to manage a wide variety of business models and transactions. EVP will use 42™ to manage leases across multiple jurisdictions and locations. We have a strong track record of working with blue chip multi-national organizations such as EVP, and we’re excited by this opportunity to play a central role in EVP’s pan-European expansion.”

About Northern Arch (www.northernarch.com)

Northern Arch is a global provider of asset finance, leasing and fleet management software. The Northern Arch team has successfully developed and delivered sophisticated financial technology solutions to blue chip corporations and financial institutions since 1989.

About European Venture Partners (www.evp.co.uk)

European Venture Partners (EVP) was formed in 1998 as Europe’s first Venture Debt provider in order to expand the financing alternatives of the maturing Venture Capital market in Europe and Israel. Since inception, EVP has committed more than EUR 160 million to 70 companies across Europe and Israel.