Compassoft Appoints Paul Salsgiver as CEO

Scotts Valley, CA – June 24, 2008 –- Compassoft, Inc., the leading provider of governance, risk and compliance solutions that automate the management and control of risks associated with the use of spreadsheets, desktop databases, and reports, today announced the appointment of Paul Salsgiver as President and Chief Executive Officer. Salsgiver, who has been an entrepreneur and executive in the enterprise software business for more than 30 years -- and a Board Member of Compassoft for four and a half years -- replaces Paul Bach who will step down from day-to-day management of the firm. Bach will continue with Compassoft as a Member of the Board of Directors.

Bach became Chief Executive Officer of Compassoft in 2004 and helped define the enterprise spreadsheet control market as he led the company through a period of new product innovations, overseas expansion and key acquisitions. During his tenure, the company built its customer base to more than 180 companies across the globe while winning recognition as a leading player from the top analyst firms.

“As the new CEO and President of Compassoft, I look forward to working closely with Compassoft’s talented team, customers and partners to continue the fine tradition that Paul Bach and Compassoft’s Founder and Executive VP of Customer Services Libby Koehn began,” said Paul Salsgiver, CEO and president of Compassoft. “Clearly there is a critical market requirement for automated enterprise spreadsheet control solutions for the discovery, analysis and prevention of corporate risk, and we will continue to meet that need through innovation and dedication.”

Salsgiver brings strong industry credentials to Compassoft, with experience leading and growing businesses ranging from venture-funded startups to divisions of industry giants such as PeopleSoft. Most recently he was President and CEO of Aspectrics, Inc, an analytical instrument and software solution provider. Previously, he was President and CEO for HigherMarkets, the leading e-procurement ASP services vendor in the higher education marketplace. Prior to that he was chief executive officer of Rubric, Inc., the industry leader in eMarketing Automation (eMA) applications, which was acquired by Broadbase Software at the end of 1999.

Paul was president of the Education and Government Division at PeopleSoft, Inc. (NASDAQ:PSFT). While at PeopleSoft, he is credited with creating the Education and Government (E&G) Division in 1994 and growing it to represent 30 percent of revenue for the company's North American operations in 1998. When Paul left PeopleSoft, the division had revenues in excess of $395 million and a staff of over 1,800 professionals. Paul also served as vice president of business development for two years prior to establishing the E&G division and served as vice president of account management for two years after joining PeopleSoft in 1990. Before his time at PeopleSoft, Paul was an executive at Integral, a provider of human resource and financial software solutions.

Today Paul sits on the board of directors at Compassoft and Aspectrics, and is a Trustee for the education foundation at California State University, East Bay. Paul received his B.S. in Business Administration from the University of California, Berkeley.

About Compassoft

Compassoft, Inc., is the leading provider of governance, risk and compliance solutions that automate the management and control of risks associated with the use of spreadsheets, desktop databases, and reports. For risk managers and finance professionals seeking to reduce the operational risks associated with the use of spreadsheets and other user-developed applications (UDAs), Compassoft provides a platform that automatically and continuously discovers, inventories, assesses, and applies a rules-based control framework to simplify and streamline the structured management of UDAs to eliminate errors, secure sensitive data, and enforce use policies. Compassoft’s solutions have improved controls at more than 180 major companies, including the Big Four accounting firms, Allergan, Allied Irish Banks, Bank of America, Bruce Power, CitiGroup, Eli Lilly, HP, Irish Life, Lloyds TSB, Sydney Futures Exchange, Tulane University and Venetian Casinos. For more information, please visit www.compassoft.com.

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Julia Glenister, JAG Wire Group
Tel: (415) 459-3688; Cell: (415) 246-6075
compassoft@jagwiregroup.com