Press Releases

CiRBA Announces New Funding
Investment Brings Proven Executives and New Board Members

Toronto, Ontario - Nov, 4, 2005 - CiRBA Inc., a world leader in Information Technology Change Detection, today announced completion of a new round of equity financing, new executives and new board members. Closed on October 27, 2005, the funding will enable the company to continue its aggressive growth plan. Participating investors included:

Gerry Smith, Former CEO of Changepoint (Sold to Compuware for $100M in 2003)
Robert Fraser, President of Whiskey River Ventures Ltd and vice chairman of GMP Securities Ltd
Howard Gwin, Former EVP, Worldwide Operations of Peoplesoft
Mike Egan, Former President and CEO of Insystems (Sold to Standard Register for $89M in 2002)
Chuck Tatham, Former VP Marketing and Business Development of Changepoint
Ayman Gabarin, Former VP, Europe, Middle East and Africa, Changepoint
Helen Tsantsoulas, Former Changepoint Product Management Executive and COO of InHealth Solutions

The financing round was led by Gerry Smith who will assume the role of President and CEO. Additional new executives are Chuck Tatham, Vice President Marketing and Business Development, and Helen Tsantsoulas, Vice President of Product Management. CiRBA CEO and co-founder, Riyaz Somani will assume the role of COO. Andrew Hillier, co-founder and CiRBA CTO will continue in that role. Gerry Smith, along with Howard Gwin will be added to the Board of directors, joining existing board members Riyaz Somani and Andrew Hillier.

"This round of funding is about more than capital", said Riyaz Somani, CEO of CiRBA, "With it we are adding extremely experienced and proven software executives and board members. This move positions us to quickly take advantage of the fast growing market for enterprise technology auditing solutions. "

"I am very excited about the opportunity to lead CiRBA's next phase of development," said Gerry Smith. "I spent several months investigating CiRBA's value proposition and saw a winner. Technology Change Detection pinpoints troublesome IT changes, the cause of 80% of corporate system failures, quickly and accurately. A dedicated team has worked very hard to bring to market an unparalleled solution, and over the last year have proven the value and added blue chip customers. I'm really looking forward to working with them to build out the organization and grow the company aggressively."

Gerry Smith is formerly the Executive Vice President of IT Governance Solutions at Compuware (NASDAQ:CPWR). Prior to Compuware, from 1994 to 2003, Gerry was CEO and a founder of Changepoint Corporation, an IT Governance software company that was purchased by Compuware in 2003. During his tenure at Changepoint Gerry raised over $40 M in venture capital and grew the business from $0 to over $20 M in revenue. Mr. Smith is a member of the Young Presidents Association (YPO) and was honored in 2003 as one of Canada's Top 40 Under 40. Mr. Smith graduated with a Bachelor of Applied (Mechanical Engineering) Science degree from the University of Toronto and a Masters of Business Administration from McMaster University.

Howard Gwin spent 13 years in senior sales, marketing and operations roles at IBM Corporation and Xerox Corporation before joining PeopleSoft Inc. From November 1994 to January 2000, Howard held a variety of executive management positions including; VP and General Manager Canadian Operations, VP and Managing Director European Operations, SVP International Operations and EVP World Wide Operations managing a 5000 employee organization. During his tenure, the company grew from <$100M in sales to $1.3B.

In January 2000, Howard became President of Solect Technology Group, a global provider of billing, customer care and service management software for the telecommunications industry. In April 2000, Howard helped orchestrate the sale of Solect to Amdocs Inc. a world leader in customer management billing systems. The transaction (US$1.3B) was the largest ever for a private Canadian software company.

Howard serves on the boards of; Longview Solutions Corp. (Chairman), Mobile Computing Corporation, Marqui Corporation (Chairman), Intelligauge Solutions, MKS Inc., Taleo Corporation, Blast Radius Inc. and CiRBA Inc. Howard has previously served on the boards of; Pivotal Corporation, Oasis Technology Ltd. (Chairman), Wysdom Inc., and Changepoint Corporation.

Howard has a bachelor of business administration from Simon Fraser University in British Columbia.

Biographical information on other CiRBA executives and board members can be found at www.cirba.com.

About CiRBA, Inc.
CiRBA Inc. is a leading provider of Information Technology Change Detection and Problem Isolation technologies that provide IT organizations with significantly increased visibility into how their systems are organized, configured, used and changed. CiRBA provides IT professionals with practical and accurate information that can be used to generate tangible and measurable results - from reducing operational risk and automating information collection, to enabling IT processes and driving strategic initiatives.

For more information contact :

Kim Baker
PAN Communications
cirba@pancomm.com
Tel: 978.474.1900
Fax: 978.474.1903