Dear customers, colleagues andfriends,

As we are sure it is no news to you bynow, the Holidays are coming As we all await Christmas and New Year, maybe we can takepause for a couple of minutes and reflect on the year past as wellas on the year to come.

And along with self-reflection comes hopeand willingness that we shall continue to do our best by you, ourcustomers, our partners, our colleagues and moreover our friends.That we shall continue to build important things together, that weshall succeed in fulfilling all of our goals, that we shallovercome together, as a team, any challenge might step in ourway.

But before we talk about the future, wethink it is time to thank you for all your continuous support, foryour trust, for your close cooperation. So here’s a huge THANK YOUfrom us to you.

Being so blessed makes us feel the need togive back. And sometimes we do so to those who most need it. Thiswinter, Allevo’s representatives participated, bearing gifts, tothe Aurora Center Christmas Party. The Aurora Centerprovides special education for children with serious neuromotordisabilities. And we plan to sustain our involvement in the yearsto come.

So let us all embrace the New Year andfind together the inspiration for greater things.

Ho! Ho! Ho! Merry Christmas to all and toall a wonderful New Year!

Sincerely yours,

Allevo – the Team

Yesterday we held the 19^th edition ofthis event dedicated entirely to ourcustomers.

The agenda consisted of 5 topics. The first,presented by Allevo’s Professional Services Director, Sorina Bera,was a report for qPayIntegrator’s support services. She conducteda complete analysison the issues raised by our customers in 2011, taking intoaccount different criteria like the platforms on which theyoccurred, the severity, the time for response and so on. Key pointsof her speech were 1. speeding up the acceptance testing for thepatches delivered by Allevo on the customers’ test environments and2. historic cases. The ideal case is when these patches arepromoted on the live environment in less than 60 days.Also, historic cases are to be reevaluated on both sides and eachof Allevo’s customers will receive during the following week a fullreport customized for their owninstitution.

Next point of the agenda was presented by Allevoproject manager, Andreea Darlea. She announced the release of qPayIntegrator3.0 in April 2012. The v 3.0 release means upgrading to Oracle11g & WMQ 7 and theqPI-SENfunctionality, namely the SCT / RON businessflow (SEPA credit transfer on RON). We will deliver thisrelease of qPayIntegrator to all our banking customers, which meansthere will be a thorough testing of all businessflows.

Then after, our new business analyst, GeorgeMarcu, outlined qPayIntegrator’s new functionalityset for banks: Target2, treasury, statement, SEN (SEPARomania); and also for corporations.

Then after I presented the competences achievedby Allevo and its team members in 2011. We counted an impressivenumber of 46 certifications, on top of those wealready had:

1 at company level (ISO 9001:2008recertification)

1 at application level (SWIFTReady Workers’Remittances 2011)

6 for SWIFT Alliance, Gateway & SNL, all v7.0

28 IBM on severalproducts

6 database (3 Oracle 11g & 3 SQLServer)

4 others (linux, project managementetc)

Afterwards I outlined the 19 events of2011 Allevo has either organized, sponsored or simplyparticipated at, excluding other types of dinner events, awardceremonies, partner events and so on and so forth. To wrap thefollowing slide up, we had 12 participations abroad, 8 with stand& product demos and 10 with speech within a conference. We’vebeen very active in remittances conferences & workshops, we’vechanged our visual identity becoming Allevo, we’ve marked the4^th consecutive participation as exhibitors at Sibos andthe only 2 gigs awaiting us this year are SOFE in London and ourmost expected Christmas party, marking down the end of a terrificyear.

For 2012 we have in mind 14 events, the onesforeseen so far, the most interesting of which (except for Sibos,of course) is “Throwing FOSS into the FinancialArena“. We intend to organize this as a round-table eventwhere we are going to invite key persons who are going to create avery interesting debate on the way free and open source softwarecan penetrate this very rigid financialindustry.

These event lists were followed by a shortoverview over Allevo’s online presence – the newwebsite launched this June, the blog, the Facebookpage, the LinkedIn page, the Google+ page and the Twitterstream. Oh, and, speaking of Facebook, don’t forget tocheck out the photo album of yesterday’sevent.

Concluding this section of the agenda, I revealedwhat we have in mind for 2012: continuing the brandingprocess at product level (the well known Esfera, FMA &qPayIntegrator are about to get new names, logos & becomeAllevo brands) and the so-called qPI-Open, which,in short, means creating an open source version ofqPayIntegrator. This was one of the first times we had achance of discussing this idea with current customers of ourproduct and of getting their opinion on the matter. I hope theyweren’t only polite when saying it’s a bold and interestingapproach