Confluence Holdings issued a statement last week regarding changes to the company's executive team. Effective Thursday, November 3, 2005, Robert Sharp, Chairman of the Board of Confluence Holdings Corp., has assumed operational responsibilities of Confluence Holdings Corp. In spite of speculation from other industry sources, Confluence stated that Richard Feehan remains a member of the Confluence team and has assumed other responsibilities within the company.

At this point, Mr. Sharp will assume the CEO responsibilities. The company stated that there were no other staff or management changes as of the time of this statement. Confluence generally does not discuss matters such as the reasons behind their decision to have Mr. Sharp assume 'operational responsibilities' at Confluence, and is not prepared to discuss the details at this time.


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