Compassoft Adds Dan Schoenbaum to Board of Directors

Scotts Valley, CA -- March 13, 2008 -- (BUSINESS WIRE) –– Compassoft, the market leader for Enterprise Spreadsheet Governance, Risk Management and Compliance (GRC) controls, announced today that industry veteran Dan Schoenbaum has been appointed to its board of directors. 

“Dan brings a wealth of hands-on marketing strategy and business development experience  to Compassoft,” said Paul Bach, Compassoft CEO.   “This, combined with his deep domain expertise in audit and control systems, adds a valuable perspective while reinforcing the strengths of our board, and will help Compassoft expand its leadership position in the growing Spreadsheet GRC market.”

Schoenbaum joins Compassoft as it is gaining recognition as the definitive leader in helping large companies address and mitigate the risks of distributed financial data, in particular, spreadsheets and other end-user developed applications by automating discovery, risk profiling, and control processes. While other solutions focus on controlling a handful of spreadsheets they have identified as high risk, most losses are the result of information that is distributed and difficult to identify without a comprehensive and automated solution. 

“Compassoft brings enterprise-level controls to an entire category of information into which companies sorely lack visibility,” said Schoenbaum.  “As these risks are increasingly recognized as critical to enterprise’s financial security, Compassoft is uniquely positioned to be a valuable and sustainable part of any comprehensive enterprise GRC strategy.”

Schoenbaum currently serves as the senior vice president of marketing and corporate development at Tripwire, Inc, the leader in configuration audit and control solutions. Prior to joining Tripwire, Dan served as chairman of mergers and acquisitions and vice president of business development at Compuware Corporation (NASDAQ: CPWR), a billion dollar software and professional services company with solutions that help chief information officers (CIOs) more effectively manage the business of IT. Prior to Compuware, Dan served as vice president of business development at SeeRun Corporation. In addition, Dan spent eight years at Mercury Interactive - now part of Hewlett-Packard Co (NASDAQ: HPQ) - in a variety of senior roles where he created and managed a line of products that sparked the company’s growth and built the company’s strategic alliances program.  

Schoenbaum currently also serves as an advisor to Cenzic, Inc, the leader in application security risk management, vulnerable assessment, and compliance solutions. Previously, Dan was on the advisory board of nLayers, Inc., which was acquired by EMC Corporation (NYSE: EMC).

About Compassoft

Compassoft is the market leader for enterprise spreadsheet Governance, Risk and Compliance (GRC) control solutions. Compassoft Enterprise™ enables corporations to manage and control spreadsheets based on business risk policy, automating the continuous discovery and prioritization of spreadsheets throughout the enterprise. By detecting policy exceptions among the thousands of spreadsheets and providing a secure control framework for them, 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