Press Release

OARBIC Solutions Inc. and Picom Software Systems Ltd. sign distribution agreement for North America

9:00 EST Friday, February 8, 2008

TORONTO, ON, Feb. 8 – OARBIC Solutions Inc. (OARBIC) and Picom Software Systems Ltd. (Picom) jointly announced the signing of a distribution agreement covering Canada and selected regions in the U.S. OARBIC will distribute, install and support Picom’s leading-edge Content Archive and Delivery solutions to the Insurance marketplace.

OARBIC has been providing P&C Insurance companies with technology consulting expertise for over eight years. Picom, an Israeli-based software company, began developing its insurance solutions in early 2000 and has a number of successful installations, in the U.S, Greece, Cyprus and Israel.

“I’m amazed at how deep and mature the software is”, said Anthony Kumnick, Founder and Managing Partner of OARBIC, “and it works with any legacy or modern system in place today. We are very excited to be selected by Picom to represent and support them in North America. This fits perfectly with our growth strategy”

Ron Linder, CEO of Picom, said “OARBIC is the ideal partner for Picom in North America. They have contacts and a solid reputation in the industry and bring sales, configuration, business analysis and support services to the table.”

About OARBIC:

OARBIC, a consultancy and software developer has been focused on the P&C Insurance industry since its inception in 2000. OARBIC developed OSEA, a Transactional Insurance Web Portal that enables companies to extend the life of their legacy systems while providing straight-through processing. On the consulting side, OARBIC provides the industry with contract resources including legacy systems developers, programmers, business analysts, systems analysts and program/project managers.

About Picom:

Picom Software Systems is a leading provider of comprehensive software solutions for content management, particularly suited for financial institutions, specifically insurance companies and banks. Picom enables insurance companies, working in diversified hardware and software environments, easy access to a unified view across all lines of business and products. Picom solutions analyze and deliver this unified view to multiple types of users such as employees, brokers and agencies securely using portal technology, XML standard and other leading integration components.