Vancouver, B.C., Canada - February 22, 2008

Vivonet announced today the appointment of Victor Holysh as Vivonet's Chief Financial Officer (CFO), reporting to the President and CEO, Ryan Volberg.  This appointment completes the executive management team expansion undertaken by Vivonet in response to the explosive growth the company has experienced since launching the Halo Secure Web Based POS product in 2004. 

Mr. Holysh’s previous roles include Chief Operating Officer at Loki Management Systems and Vice President, Internal Operations at Retek Inc., a large Minneapolis-based software provider to retailers, acquired by Oracle Corporation in 2005.  From 1996 – 1998, Victor led Sierra Systems Consultants’ North American financial systems implementation practice.

Victor holds a B.Sc. degree in Computer Science and an M.B.A. from the University of Toronto, and is a member of the Canadian Institute of Chartered Accountants.
 
“I am very proud to join the Vivonet team”, states Victor. “The company, the team and the products they deliver have a track record of success and they are all well positioned to provide meaningful solutions in the world wide retail and restaurant market place. As a customer-centric CFO, I am looking forward to applying my experience and skills to best enable Vivonet to maximize the immense growth opportunities that lie ahead.”

”Victor was chosen based on his proven ability to lead people, develop scaleable operational systems and deliver strong operational results in very high growth technology companies,” remarks CEO Ryan Volberg.  “His unique skills and experience with retail technology in our market will add great value to the Vivonet senior management team and help shape and engineer the company’s continued growth.” 

Victor Holysh officially joined Vivonet on February 18, 2008.

About Vivonet: 

Established in 1999, Vivonet is an on-demand solutions provider that enables, acquires and organizes millions of transactions every month for customers in the hospitality and retail sectors across Canada and the United States. Vivonet provides on-demand enterprise management, point-of-sale (POS), payment processing and performance benchmarking solutions for its customers. Vivonet’s unique ability to aggregate the transaction data created by its customers allows their customers to benchmark their performance against other users and the industry at large – leading to better performance and higher business success rates.