2007

PA Consulting Group appoints Martin Stapleton as new Head of Ventures - 18 January 2007

PA Consulting Group, the global management systems and consulting firm, today announced the appointment of Martin Stapleton as its new Head of Ventures with effect from 1 January 2007.

PA's venture programme was established in the late 1990s and has a track record of incubating new businesses that exploit PA's intellectual capital, technology and know-how. To date the programme has created award-winning and job-creating new businesses, two of which were recently divested for a total realisation of some $260million.

Martin will lead and manage our venture programme as it enters this new phase of investment and growth. He has extensive experience in investment management and deal making as well as operational experience within start-ups and roll-ups. He joins us from Sofius Capital Limited where he was a founding shareholder and executive director. Martin led the buyout of the Reuters Greenhouse Fund LP for Sofius Capital and has spent the last few years managing and realising the Fund's portfolio with great success.

Prior to his career in venture capital, Martin held a number of new business positions in the Reuters group. These included CFO of TIBCO Software, from its inception through to implementation of its business plan, and co-leading an acquisition-led strategy to roll-up domestic fund performance data providers under the Lipper brand.

Martin Stapleton commented:

"I am very excited by the prospect of joining such a successful consulting company and, in particular, one with such an innovative and  successful track record in corporate venturing. PA has an ambitious growth agenda for building its venture portfolio and I look forward to working with Jon Moynihan and the rest of the senior management team to realise this ambition."

Jon Moynihan, PA's Executive Chairman, added:

"We are delighted that Martin Stapleton is joining us. His extensive experience in investment management, operational management and deal making will strengthen our venture management team considerably as we continue to develop and grow PA's venture programme. PA has a successful track record in identifying and nurturing new ventures and we will continue to invest to grow our ventures portfolio. I very much look forward to working with Martin."

Ends

For more information, please contact:

Heather Smith PA Consulting Group 123 Buckingham Palace Road London SW1W 9SR United Kingdom Tel: +44 20 7312 4975 Fax: +44 20 7312 4639 E-mail: heather.smith@paconsulting.com

Adam Adams PA Consulting Group 123 Buckingham Palace Road London SW1W 9SR United Kingdom Tel: +44 20 7312 4602 E-mail: adam.adams@paconsulting.com

Notes to editors

1. Photographs of Martin Stapleton

Photos are available from Heather Smith as above.

2. PA’s venturing track record

PA ventures are businesses which have been incubated by PA, and which exploit our intellectual capital, technology and know-how.

We invest our own capital setting up such companies and provide the ideas, infrastructure and manpower. The ventures ensure that we continue to expand our own technology base - so preserving our ability to provide our clients with the leading-edge solutions they need - as well as providing career and financial opportunities for our staff. These two objectives help us to achieve our ultimate aim of building an ever better offering for our clients.

Aegate, PA's latest venture, is developing a next-generation approach to patient safety by providing authentication services for pharmaceutical products at the point of dispensing. Aegate received the 2005 Frost & Sullivan Award for Entrepreneurial Company in recognition of its 'unique and commercially attractive solution to combat pharmaceutical counterfeiting and fraud':  www.aegate.com

PA venture ProcServe provides e-Procurement solutions through a suite of technical solutions, managed services and professional services tailored to suit individual clients and their supplier community. ProcServe Holdings comprises two core businesses: ProcServe Solutions Limited utilises e-Procurement technology solutions to offer customers hosted and non-hosted e-Procurement technology solutions; ProcServe Services Limited offers a range of e-Procurement services, including managing outsourced procurement functions on behalf of customers. The ProcServe managed service builds on our experience as the supplier of Zanzibar - the e-Marketplace solution for the UK public sector.  www.procserve.com

PA retains an interest in Cubiks, the specialist HR consultancy and former PA venture company. Cubiks completed a management buy-out in April 2004: www.cubiks.com

PA venture UbiNetics was founded in 1999, born out of the Wireless Technology Practice of PA. In six years UbiNetics developed new products for the fast-growing wireless communications market, becoming a world leader in 3G test and measurement products, and in next generation multimode 2G/3G/HSDPA cellular software and technology. It supplied many of the world's leading telecoms operators and semiconductor and handset and device manufacturers. In May 2005 the Test and Measurement division of UbiNetics was sold to Aeroflex Incorporated for $84.5m, and in July 2005 PA agreed to sell the other half of the venture - Volume Product Technology - to CSR Plc for $48m.

Meridica is a former PA venture company developing and licensing drug delivery devices and products for the pharmaceutical industry. It was established in May 2001 as part of PA’s venture programme. Following a licensing and equity deal with Pfizer Inc.for Meridica’s Dry Powder Inhaler, Xcelovair™, PA subsequently sold the remainder of the shares in this successful venture for $125 million to Pfizer, the world’s largest pharmaceutical company, in November 2004, in order to help Pfizer accelerate the development of allergy and respiratory drug candidates in its development pipeline.

The sale of UbiNetics and Meridica confirms PA's acknowledged ability to develop pioneering companies which generate jobs and growth in the UK economy, and become leaders in the highly competitive market for global technology.

3. About PA Consulting Group

At PA Consulting Group, we transform the performance of organisations.

We put together teams from many disciplines and backgrounds to tackle the most complex problems facing our clients, working with leaders and their staff to turn around organisations in the private and public sectors. Clients call on us when they want:

an innovative solution: counter-intuitive thinking and groundbreaking solutions

a highly responsive approach: we listen, and then we act decisively and quickly

delivery of hard results: we get the job done, often trouble-shooting where previous initiatives have failed.

We are an independent, employee-owned, global firm of 3,000 talented individuals, operating from offices across the world, in Europe, North America, Latin America, Asia, and Oceania. We have won numerous awards for delivering complex and highly innovative assignments, run one of the most successful venture programmes in our industry, have technology development capability that few firms can match, deep expertise across key industries and government, and a unique breadth of skills from strategy to IT to HR to applied technology.

• defence • energy • financial services • government and public services • international development • life sciences and healthcare • manufacturing • postal services • retail • telecommunications • transportation

 • strategic management • innovation and technology • IT • operational improvement • human resources • complex programme delivery

Delivering business transformation

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