Non-executive director resignation

CAD IT S.p.A., leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, is hereby providing notification that the non-executive director Jörg Karsten Brand, has resigned as a member of the Company’s Board of Directors with effect as of 1st October 2013, following his earlier resignation from the Xchanging Group.

Jörg Karsten Brand, the non-executive and non-independent director, did not belong to any internal committee. According to the statement made to the Company by the resigning director, at the date of his resignation Jörg Karsten Brand, directly and / or indirectly, held 2,000 shares in CAD IT’s capital stock.

CAD IT’s Directors and Auditors would like to thank Jörg Karsten Brand for his positive contribution during his interactions with the Company.

In order to replace the resigning director, CAD IT’s Board of Directors will be appointing another director by co-option in accordance with art. 18 of the Company’s by-laws and with art. 2386 of the Civil Code during the next scheduled meeting. The new director will come from the Xchanging Group and will have proven and vast experience in the financial business sector.