Company Logo Thursday, July 06, 2006

LiveHive Systems Appoints David Brennan as Chief Financial Officer

WATERLOO, CANADA, July 6, 2006 – LiveHive SystemsTM, a leading provider of real-time event wagering solutions for the online gaming industry, today announced that it has appointed David Brennan as Chief Financial Officer.

Mr. Brennan brings 20 years of financial experience to the company and will direct all activities related to corporate financing, corporate reporting and internal operations. Prior to LiveHive, Mr. Brennan was a Principal with Solowave Investments, a Canadian based private equity firm.  During his five years at Solowave, Mr. Brennan was involved in a number of transactions and was seconded to Sirific Wireless in the position of Vice President, Finance. Prior to Solowave, he was Associate Vice President of Finance for PixStream Incorporated, which was acquired by Cisco Systems in December 2000. Mr. Brennan previously worked as senior manager of investor relations for the Bank of Montreal. He obtained his Chartered Accountant designation during his nine-year career with Coopers & Lybrand, now PricewaterhouseCoopers.

“Having someone with David’s financial acumen and operational experience on board gives us confidence that the internal operations of the company will be well looked after as we grow our customer base and penetrate new markets,” said Dave Bullock, President, LiveHive Systems. “The fact that he has spent a significant amount of time in senior executive roles at rapidly growing high-tech companies, combined with his venture capital and public market experience, will enable LiveHive to maintain its leadership position in this market.”

“In a short period of time, LiveHive has secured some of the biggest and most recognized online sportsbooks as customers,” said David Brennan, Chief Financial Officer, LiveHive Systems. “As the company enters its next phase of growth, I am happy to be implementing the processes and structure necessary to ensure our customers and our customers’ customers are well served for many years to come.”

linkback: http://www.livehivesystems.com/index.php?option=com_content&task=view&id=93&Itemid=67

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