New Group Chief Finance Officer for TOWER Software

December 13, 2005 – Canberra, AUSTRALIA - TOWER Software has today formally announced the appointment of new Group Chief Finance Officer, Glenn Powers, to head the financial and management aspects of its global operations. 

“TOWER Software is extremely pleased to have Glenn on board as part of the management team. He brings with him significant experience in managing the finance and administration of international organizations across Asia Pacific, North America and Europe in a wide range of industry sectors, including the ever-changing software development field,” said Mr Martin Harwood, CEO of TOWER Software. “With Glenn’s strong leadership abilities and proven business savvy, I am confident that he will be able to contribute greatly to the growth and development of the company.”

Mr Powers has spent the last 25 years expanding his expertise in the accounting, financial management and operations of global companies with up to USD$129 million turnover during his tenure. He has served as Group Finance Director for a London Stock Exchange linked engineering group, a UK based software and consultancy business, and has also acted as Chairman for a number of small businesses. Mr Powers also has extensive merger and acquisition experience.

“Glenn’s financial and management expertise will be greatly appreciated by our shareholders, board members, management team and staff. He will be the key contact for our team located across the globe for matters relating to financial management and planning, budgets, business forecasting and operational planning,” continued Mr Harwood.

Mr Powers is a Chartered Management Accountant.