Nationally Known Executive Joins CBay
June 16, 2003

Chris Foley, a nationally known executive in the medical transcription industry, joined CBay Systems, Ltd. on June 9, 2003. CBay is a leading provider of global medical transcription services and technology, ranking fourth in revenue in an industry of 1500 companies. CBay is affiliated with Arrendale Associates, Inc. of Cornelius, North Carolina. Foley will serve as the CBay's Vice President of Business Development, with a mandate to identify companies with combined revenues exceeding $40 million in revenue for acquisition. He will also serve as a national accounts representative for A+ Network, CBay's working consortium with Arrendale, which promotes Arrendale's Internet based TAe System for dictation, transcription and document management, as well as CBay's end-to-end service offerings.

“Chris Foley will add significant depth to our successful acquisition model,” said Skip Conover, President of CBay Systems, Ltd. “Chris's hire is a significant milestone for CBay, since it demonstrates to the entire industry that CBay can attract top ranked talent to its executive management pool,” Conover continued. “With nearly two decades of operations, finance, and marketing experience in leading health care services and technology companies, he is the ideal person to execute on our growth strategy and deliver maximum value to all of our stakeholders. CBay continues to add exceptional experience to its management team to extend our innovation, core strengths and rapidly accelerate growth.”

“I see significant opportunities to fuel growth in the current healthcare market. We are already redefining CBay's business model to take advantage of them,” Foley said. In his role as Vice President of Business Development, Foley is responsible for leading and developing CBay's strategic acquisition's, marketing and client BPO initiatives for all products and services, extending CBay's global reach by combining superior client services and support with state of the art medical transcription technology.

Foley brings over 18 years of senior executive management experience in the healthcare industry to CBay. He was most recently Chief Executive Officer of Priam, LLC, a provider of global labor resources and a technology leveraged consolidator in the medical industry. Before Priam, he served as Vice President & Chief Operating Officer of IR, Inc., a medical billing, transcription, coding and performance analytics company, where he was responsible for company operations, technology initiatives and global market development. Prior to IR, he served as Vice President of Operations at Rodeer Services Inc.; Vice President at publicly held MedQuist Inc.; founded and served as Chief Executive Officer of C. Foley & Associates, Inc.; a communications consulting and technology provider; and he began his career at Lanier Worldwide. His education includes an undergraduate degree in Marketing and a graduate degree in Business Administration.

Foley will operate out of CBay's US East coast offices.