Pipeline Data Inc.

MacAllister Smith, 42, has been our President, Chief Executive Officer and Director since March 2002. Mr. Smith has over fourteen years of experience in the merchant processing industry and has held ownership positions in three companies that have been merged with public corporations. Mr. Smith was most recently Regional Vice President of Nova Information Systems (NYSE:NIS) (employed from 1996 to 1998), a $2 billion corporation and one of the three largest credit card processors in the industry. He was President and CEO of Pinnacle Financial Technologies, Inc. (employed from 1994-1998), a nationally recognized firm and a pioneer in electronic benefits transfer

Mr. Smith (no relation to Pipeline's CEO) served for four years as Senior Vice President of Concord EFS. During his tenure at Concord EFS (recently acquired by First Data Corp.(NYSE:FDC)), Mr. Smith was responsible for the wholesale credit card processing division, which included both operations and sales. In that capacity, he brought net pretax profits from $18 million to $30 million in a 24-month period. He also increased new monthly merchant application count from 1800 to 3750, and managed the division from 75,000 to 115,000 merchant accounts.

Daniel K. Nenadovic, Chairman of the Board and Director. For more than the past six years, Mr. Nenadovic has and continues to work with The ComVest Group, a private investment firm, and its affiliated entities. He currently serves as a Managing Director and Partner at The ComVest Group. Mr. Nenadovic previously worked with The ComVest Group's predecessor, Commonwealth Associates. Prior to joining Commonwealth, Mr. Nenadovic's merchant banking career focused on information technology and involvement in all facets of the deal-making process. Earlier in his career, Mr. Nenadovic worked at Allen & Company, a merchant bank specializing in the media, telecom, and entertainment industries. Mr. Nenadovic graduated cum laude from the Stern School of Business at New York University, with dual Bachelor's Degrees in Finance and International Business.

Sheila Corvino, General Counsel and Corporate Secretary, has been contractually retained as our General Counsel since June 2007. Mrs. Corvino has represented our company since March 2000. She has practiced law for more than 20 years, specializing in international business, mergers, acquisitions, public offerings and contract and securities matters. Mrs. Corvino began to specialize in the payment card industry in 2000. She practiced at Battle Fowler (merged into Paul Hastings Janofsky and Walker) from June 1987 to September 1993, at The Dreyfus Corporation from October 1993 to January 1995 and engaged in private practice largely in the fields of international corporate and securities laws from 1994 to 2005. Mrs. Corvino is a three-time American Jurisprudence Award winner.