CATEX Pivot Point Insurance Transaction System Licensed by Oxygen

London, February 7th, 2005
CATEX Inc. today announced that Oxygen has licensed the Pivot Point Insurance transaction system for use as a commercial lines and reinsurance system. Pivot Point is a web-based system handling the full insurance transaction process from business production and quoting through to IBA ledger and incorporating full cycle document management.

Richard Trebble, Chief Information Officer at Oxygen said, “We reviewed a wide selection of products before selecting CATEX’s Pivot Point. We are impressed with the system architecture and the fact that we can support our Insurance and Reinsurance, Agency and Broker operations on a single solution, allowing true web processing”.

Frank Fortunato, CEO of CATEX said, “Oxygen’s choice of the Pivot Point Commercial Lines System is very important. We are well aware of the reputation they have already gained in the market and their selection of Pivot Point continues to demonstrate the flexibility and scope of our completely web-based system”.

CATEX’s European Managing Director, Tom Bailey said, “Oxygen’s decision is a massive boost for Pivot Point in the London market and establishes Pivot Point as a future leader in the insurance and reinsurance space.”

The system is operational at Oxygen, and CATEX and Oxygen will be working together to enhance Pivot Point to support future team needs.

About CATEX
The Catastrophe Risk Exchange, Inc. (CATEX) is a leading developer of web based insurance and reinsurance software. CATEX provides software as a service to brokers, agencies and reinsurers to manage all of their Treaty, facultative and commercial insurance needs. CATEX’s flagship products, CATEX Pivot Point and Data Vera, are Microsoft .NET based solutions that provide placement, contract management, fiduciary accounting, ledger control, claims management, multi-currency settlements, bordereau processing, document management, data conversion, and comprehensive MI reporting functionalities. CATEX has been operating since 1994 and is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity.

For more information visit us www.catex.com

About Oxygen
Oxygen Insurance Brokers Ltd and Oxygen Insurance Managers Ltd are subsidiaries of Oxygen Holdings plc. Oxygen is an insurance intermediary involving both broking and agency activities. Oxygen aligns client service, profitability and equity reward for staff. Oxygen was created and founded by former Faraday Group Chief Executive Officer, Nigel Barton and John Benjamin, former Managing Director of Xchanging Ins-sure Services. The business's operating environment creates efficiencies through a disciplined approach and the use of outsourcing, electronic trading and opportunities offered by technology and process changes in the market. Oxygen brokes UK and international specialist lines in the London market. Oxygen is backed by Oxygen's board and a number of senior market investors in the UK and US. Oxygen's management team and Board are: Nigel Barton, Chief Executive Officer John Benjamin, Chief Operating Officer Joe Knoblauch, Chief Finance Officer Sian Fisher, Head of Agency Operations Richard Trebble, Chief Information Officer Non- Executive members: Ron Sandler, Chairman Michael Kier, Non-Executive Director Robert Alford, Non-Executive Director. More information about Online Re can be found at www.oxygeninsurance.com

CATEX Contact
Stephanie Fucetola
sfucetola@catex.com
+1 609-683-0888