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02/09/2010

Open Solutions Names New Executive Vice President, Group Sales

Industry veteran will advance company's growth objectives

Glastonbury, Conn., Feb. 8, 2010 - Open Solutions Inc.^®, a leading provider of integrated enabling technologies for financial services providers throughout the United States, Canada and other international markets, has appointed industry veteran Santo Cannone executive vice president, group sales, effective Feb. 15, 2010. In his new position, Cannone will be responsible for the company's North American sales and will report to Open Solutions' President Steve Cameron.

Cannone has extensive experience in the technology and financial services industries, most recently serving as chief operating officer of ConnectWise, a Tampa, Fla.-based provider of Professional Service Automation (PSA) software for the IT services industry. While at ConnectWise, Cannone was instrumental in increasing revenues by 40 percent year-over-year while maintaining high client satisfaction.

"His success with ConnectWise resonated with us," said Cameron. "Open Solutions has recently undergone an extensive transformation that has positioned the company for the next 10 to 15 years. We're focusing on our own growth and the growth of our clients, and we're confident that Santo will effectively lead our sales team to meet our objectives."

Prior to his tenure at ConnectWise, Cannone was senior vice president of integrated financial solutions at Fidelity Information Services in Orlando, Fla., where he was responsible for profit and loss and all facets of sales, delivery and service operations for multiple organizational units. Other positions Cannone has held include vice president of consulting operations for Ideal Consulting of Tampa; several management and development positions with Electronic Data Systems of Orlando; and vice president of product development and director of consulting services, product management and systems development at USERS Incorporated of Valley Forge, Pa. He holds a bachelor's degree from Drexel University and a master's degree in management from Pennsylvania State University.

Said Cannone, "I'm very pleased to be part of the Open Solutions family. The company has made significant investments in its product and service capabilities over the past two years that I believe will provide great advantage to our current and future clients."

"On behalf of the board and our entire team, I am happy to welcome Santo to Open Solutions," said Louis Hernandez, Jr., the company's chairman and chief executive officer. "We're fortunate to have found someone whose experience and expertise align perfectly with our post-transformation goals, and we're certain that our clients and employees will immediately reap the benefits of his leadership."