PIC Solutions Director Appointed as Group CEO

Cape Town, 21 October 2006 – PIC Solutions (PIC), the leading credit risk management consultancy in the Africa Middle East region, has recently adjusted its executive management structure to best position the company to capitalise on the ongoing growth of the organisation.

David Lewis, one of the founders and directors of the company, is moving within the JMR Group, PIC’s majority shareholder, to take on the role of Chief Executive Officer at Collection & Financial Services (Pty) Ltd. (CFS). David will remain a non-executive director of PIC.

As a result of the consistent growth over the past year, PIC Solutions has also extended and diversified the board of directors to include Shereen La Fleur, as Director of Business Support Services. Shereen will take on responsibilities for Finance, Administration and Human Resources, with a specific focus on affirmative action and employment equity.

At the same time, PIC Solutions has expanded the Professional Services Division, consisting of Analytics, Consulting, Predictive Modelling and ICT, under the leadership of co-founder and director, Mike Crawley. The expansion of this division further increases PIC’s capacity to deliver turnkey credit risk management solutions to clients in the entire Africa Middle East region.

David Lewis, Non-Executive Director at PIC Solutions, states, “Working with the team at PIC Solutions and establishing the company as the leading software, analytics and credit risk management consultancy in the region has been a wonderful experience. Under Stephen’s, Mike’s and Shereen’s leadership, PIC Solutions continues to be in a great position to deliver best practice solutions to their clients. I am excited to join Collection & Financial Services and I look forward to working with the CFS team to optimise and grow the existing infrastructure and ensure that we deliver similar high standards of professionalism, integrity and value-add to all of our clients. Furthermore, I look forward to strengthening the relationship between PIC and CFS which will result in increased benefits to all of our clients.”

Stephen Leonard, Managing Director of PIC Solutions, adds, “Dave has been a key member of the team that has built and positioned PIC as a leader in the global credit risk industry. He is recognised as a leading industry expert and his extensive knowledge and experience forms a solid foundation for his new role as CEO of CFS. We wish him all the best with the new challenges ahead and look forward to working closely with him and his new colleagues at CFS.”

About PIC Solutions
PIC Solutions provides consumer credit solutions to a wide range of blue-chip organisations. We are experts in the fields of credit, risk and software and have an established track record of success powered by solutions.

Our ongoing commitment is to enable clients to optimise the credit life cycle.

About Collection & Financial Services
CFS focus on providing administration and collection of high volume consumer and corporate debtor books to large, blue chip credit grantors.


Editorial Contact:
Sarka Svoboda
Marketing Manager
Tel: +27 (0)21 680-6010
Fax: +27 (0)21 680-6003
Email: SSvoboda@PICSolutions.com
Web: www.PICSolutions.com