ANGOSS REPORTS MANAGEMENT CHANGES, PRIVATE PLACEMENT and OPTION GRANTS

TORONTO, Dec. 24 /CNW/ - Angoss Software Corporation (TSX-V: ANC), a leading provider of software and solutions in data, predictive analytics, and marketing, provides further information about the new President, the newly appointment CTO, a further private placement and the grant of options.

Martin Galligan

On December 21, 2010, the Board of Directors of Angoss Software Corporation was delighted to announce the appointment of Martin Galligan as the Company's President and CEO. The Board believes the combination of Martin's proven sales track record and marketing skills combined with the strength of Angoss technology and people will significantly advance the presence of the Company within the key market sectors it serves.

Martin's career encompasses sales and marketing leadership in both the information and communications technology and management consulting industries. Immediately prior to joining Angoss, Mr. Galligan headed his own sales & marketing consultancy firm which provided the development and execution of marketing and sales programs. Mr. Galligan's recent work includes an extensive engagement with Canada's Olympic Broadcast Media Consortium where he was instrumental in developing and implementing the Believe campaign for the Vancouver 2010 Winter Olympic Games. Previous to establishing The Galligan Group in 2008, Mr. Galligan served as President, MarketBridge Consulting Canada and Group Vice President at MarketBridge Corporation, a leading global provider of technology-enabled sales and marketing solutions and services for Fortune 1000 companies. At MarketBridge, Mr. Galligan led several strategic multi-channel growth initiatives with global clients in the high tech, pharmaceutical, manufacturing, and telecommunications industries.  Before joining MarketBridge, Mr. Galligan served in a variety of senior executive roles in sales, marketing and finance at Xerox Corporation. During his near twenty year tenure at Xerox, Mr. Galligan held successive senior management positions including Vice President & General Manager, North American TeleWeb Sales Channel, Vice President, Marketing & Sales Operations, and Managing Partner, Sales for the Toronto East District. While at Xerox his sales leadership was recognized with numerous awards, including 15 Xerox President Club awards for sales excellence. In 1998, Mr. Galligan was promoted to the Canadian Executive team and in 1999 was made an officer for Xerox Canada.

"I believe that Angoss is well positioned for growth and is supported by a world class team dedicated to solving the business problems of our customers.  Perhaps our best kept secret is the coveted list of blue chip clients that we have the privilege to work with" said Martin and his belief in the Company and its future was expressed by his commitment to purchase from treasury, through a private placement, 435,295 common shares of the Company at $0.425 per share.  His signing bonus of $185,000 will be satisfied by the issue from treasury of 435,295 common shares at $0.425 per share.  Both transactions are subject to final documentation and are subject to regulatory approval.

Dr. Ian Scott

Mr. Galligan today announced that he has promoted Dr. Ian Scott to the position of Chief Technology Officer and an officer of Angoss.  "Ian has demonstrated exceptional thought leadership and he understands the solution space in which Angoss is a recognized leader and we expect him to take Angoss into new and exciting areas using our existing solutions", said Mr. Galligan.  Prior to this appointment, Dr. Scott was the VP Consulting for North America. In this role, he built a practice specializing in providing innovative analytical solutions to complex business problems. Dr. Scott has been instrumental in developing a Software as a Service business model that emphasizes the delivery of actionable results to business users.

Dr. Scott has been heavily involved in Angoss' SalesForce.com plug-in, as well as spearheading the development of the FundGuard mutual fund sales optimization solution. FundGuard has been deployed successfully at many global mutual fund companies representing over a trillion dollars in combined asset, and is the recognized market leader in mutual fund sales optimization.  Another focus area for Dr. Scott is ClaimGuard, an insurance claims and payment analytics solution that has already been successfully deployed at several major North American health insurers. In his new role Dr. Scott will focus on moving the already proven solution technology to new verticals as well as developing new solutions based on client needs.

Prior to joining Angoss in 2000, Dr. Scott conducted quantitative risk assessment for UBS and also worked for CFM, a Paris-based hedge fund. During his academic career he was a faculty member at the University of Wisconsin, Madison.  He also held research positions at the CERN Nuclear Research Facility (Switzerland), and at the Stanford Linear Accelerator Facility (California). Dr. Scott holds a Ph.D. in Physics from Harvard and a B.Sc. from McGill.

Private Placement

Lon Vining today announced that several Board members, officers and certain employees have also indicated that they will be joining Mr. Galligan in his personal commitment to invest in Angoss by themselves investing up to a further $300,000 to buy up to 705,000 common shares at $0.425 per share. This newly announced transaction is subject to final documentation and is subject to regulatory approval.

Stock Options

Mr. Vining today also announced that the Corporation has granted a further 300,000 options to acquire 300,000 common shares of the Company at $0.425 per common share to officers (180,000) and employees (120,000) of the Company.

About Angoss Software Corporation

Headquartered in Toronto, Canada, with operations in the U.S., and U.K, Angoss helps clients grow revenues and reduce risk using powerful predictive analytics and data mining software that unlock actionable knowledge from customer data.   Angoss increases the intelligence of marketing, sales, and risk activities for some of the world's largest financial services, telecom and technology companies including HSBC, Citigroup, JP Morgan Chase, GE Money, Vodaphone, T-Mobile, and in Canada, RBC, Bell Canada, Rogers Communications, and CT Financial.  Angoss helps these and other companies discover patterns amongst customer activity, predict the impact of their marketing, sales and risk strategies, and act on this insight with actionable, predictive rules that generate improved business performance. Angoss is listed on the Toronto Venture Exchange under the symbol "ANC" and has been operating since 1984. For more information regarding Angoss Software Corporation, visit www.angoss.com.

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: the risk that the sale of our products and services involves a long sales cycle; the risk that the economic environment and business conditions will remain difficult to predict; the risk of competition in our target markets;   the risk that we may not respond adequately to evolving technologies; the risk that we or our customers may have difficulties in introducing our products or services; the risk that we will encounter difficulties in continuing to offer services; the risk that we will encounter difficulties in integrating the operations of acquired companies with our own; the risks of conducting our operations in a variety of international locations; the risk that we may need to record future write-downs of assets arising from our investments in other companies; the risks relating to the costs that we may incur as a result of litigation against us; and  other risks described in our filings with securities regulatory authorities, including our annual reports, interim financial statements and similar disclosure documents.  Angoss Software Corporation does not undertake any obligation to update this forward-looking information after the date of its initial publication, except as required under applicable law. Sapien Information Services Corporation is not affiliated with Sapien Canada Inc. of Toronto, Ontario or Sapient Corporation of Boston, Massachusetts.

Note: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Lon Vining
Chief Financial Officer
416-593-2420
[email protected]