Released on = October 18, 2006, 11:12 pm

Press Release Author = PIC Solutions

Industry = Financial

Press Release Summary = PIC Solutions (PIC), the leading credit risk management
consultancy in the Africa Middle East region, has recently adjusted its executive
management structure to best position the company to capitalise on the ongoing
growth of the organisation.

Press Release Body = Cape Town, 19 October 2006 - PIC Solutions (PIC), the leading
credit risk management consultancy in the Africa Middle East region, has recently
adjusted its executive management structure to best position the company to
capitalise on the ongoing growth of the organisation.

David Lewis, one of the founders and directors of the company, is moving within the
JMR Group, PIC's majority shareholder, to take on the role of Chief Executive
Officer at Collection & Financial Services (Pty) Ltd. (CFS). David will remain a
non-executive director of PIC.

As a result of the consistent growth over the past year, PIC Solutions has also
extended and diversified the board of directors to include Shereen La Fleur, as
Director of Business Support Services. Shereen will take on responsibilities for
Finance, Administration and Human Resources, with a specific focus on affirmative
action and employment equity.

At the same time, PIC Solutions has expanded the Professional Services Division,
consisting of Analytics, Consulting, Predictive Modelling and ICT, under the
leadership of co-founder and director, Mike Crawley. The expansion of this division
further increases PIC's capacity to deliver turnkey credit risk management solutions
to clients in the entire Africa Middle East region.

David Lewis, Non-Executive Director at PIC Solutions, states, "Working with the team
at PIC Solutions and establishing the company as the leading software, analytics and
credit risk management consultancy in the region has been a wonderful experience.
Under Stephen's, Mike's and Shereen's leadership, PIC Solutions continues to be in a
great position to deliver best practice solutions to their clients. I am excited to
join Collection & Financial Services and I look forward to working with the CFS team
to optimise and grow the existing infrastructure and ensure that we deliver similar
high standards of professionalism, integrity and value-add to all of our clients.
Furthermore, I look forward to strengthening the relationship between PIC and CFS
which will result in increased benefits to all of our clients."

Stephen Leonard, Managing Director of PIC Solutions, adds, "Dave has been a key
member of the team that has built and positioned PIC as a leader in the global
credit risk industry. He is recognised as a leading industry expert and his
extensive knowledge and experience forms a solid foundation for his new role as CEO
of CFS. We wish him all the best with the new challenges ahead and look forward to
working closely with him and his new colleagues at CFS."

About PIC Solutions
PIC Solutions provides consumer credit solutions to a wide range of blue-chip
organisations. We are experts in the fields of credit, risk and software and have an
established track record of success powered by solutions.

Our ongoing commitment is to enable clients to optimise the credit life cycle.

About Collection & Financial Services
CFS focus on providing administration and collection of high volume consumer and
corporate debtor books to large, blue chip credit grantors.


Editorial Contact:
Sarka Svoboda
Marketing Manager
Tel: +27 (0)21 680-6010
Fax: +27 (0)21 680-6003
Email: SSvoboda@PICSolutions.com
Web: www.PICSolutions.com


Web Site = http://www.PICSolutions.com

Contact Details = PIC Solutions
Birkdale I
River Park
Liesbeek Parkway
Mowbray
7700
Tel: +27 (0)21 680-6000
Fax: +27 (0)21 680-6003
Info@PICSolutions.com