DJSPU Djsp Enterprises, - Units (MM)

PLANTATION, Fla., May 18 /PRNewswire-FirstCall/ -- DJSP Enterprises, Inc. (Nasdaq: DJSP, DJSPW, DJSPU), one of the nation's largest providers of processing services for the mortgage and real estate industries, has appointed Norman E. Gottschalk III to the newly created position of Chief Information Officer and Vice President effective May 24, 2010.

The company opted to create the position when it was presented the opportunity to bring on board a pioneer in the computer field. Mr. Gottschalk is credited with serving as the brain child for programs that are now industry standards and used by national entities.  

"We are extremely excited to add Norman to our senior management team in the critical role of CIO. We value his extensive expertise and recognize that his talents are an excellent fit for our electronic platform as we transition to a paperless environment. He has a deep understanding of the technology, systems and processes that are pivotal to our success. He brings a level of experience and professionalism to the new position that will benefit DJSP and its shareholders immediately and over the long term," said David J. Stern, President and CEO of DJSP.

Mr. Gottschalk has more than 25 years of experience in the IT field, most recently as Director, Business Development, SoftwareAG (webMethods). Prior to that, he was Senior Vice President Application Development, Lenders First Choice where he was responsible for the architecture and development of a new enterprise SOA (Service Oriented Architecture) platform for Title and Escrow leveraging BPMS technology to provide true workflow with real time visibility and process excellence throughout the organization.

He spent more than 13 years at FISERV (General American Corporation) where he was VP Information Technology. He was project owner of a vendor management platform for the title settlement and appraisal industry, which the company released internally in 1998. The huge success of this program motivated the company to sell the product externally just one year later. The platform was and is still considered the defacto standard in its market. While at Fiserv, Mr. Gottschalk also designed and implemented the back end of the first successful closing platform implemented by Freddie Mac.

"This is an opportunity to join an outstanding organization with a clear and dynamic strategy that is well positioned in a market with tremendous opportunities for growth. The management team is entrepreneurial, aggressive and has a strong track record of achievement. They have the business model and technology platform in place to execute to their strategy and this is an ideal time to join them and contribute to their ongoing success," Mr. Gottschalk commented.

About DJSP Enterprises, Inc.

DJSP is the largest provider of processing services for the mortgage and real estate industries in Florida and one of the largest in the United States. The Company provides a wide range of processing services in connection with mortgages, mortgage defaults, title searches and abstracts, REO (bank-owned) properties, loan modifications, title insurance, loss mitigation, bankruptcy, related litigation and other services. The Company's principal customer is the Law Offices of David J. Stern, P.A. whose clients include all of the top 10 and 17 of the top 20 mortgage servicers in the United States, many of which have been customers for more than 10 years. The Company has approximately 1,000 employees and contractors and is headquartered in Plantation, Florida, with additional operations in Louisville, Kentucky and San Juan, Puerto Rico. The Company's U.S. operations are supported by a scalable, low-cost back office operation in Manila, the Philippines that provides data entry and document preparation support for the U.S. operation.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about DJSP Enterprises, Inc. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions, changing interpretations of generally accepted accounting principles; outcomes of government or other regulatory reviews, particularly those relating to the regulation of the practice of law; the impact of inquiries, investigations, litigation or other legal proceedings involving the Company or its affiliates, which, because of the nature of the Company's business, have happened in the past to the Company and the Law Offices of David J. Stern, P.A.; the impact and cost of continued compliance with government or state bar regulations or requirements; legislation or other changes in the regulatory environment, particularly those impacting the mortgage default industry; unexpected changes adversely affecting the businesses in which the Company is engaged; fluctuations in customer demand; the Company's ability to manage rapid growth; intensity of competition from other providers in the industry; general economic conditions, including improvements in the economic environment that slows or reverses the growth in the number of mortgage defaults, particularly in the State of Florida; the ability to efficiently expand its operations to other states or to provide services not currently provided by the Company; the impact and cost of complying with applicable SEC rules and regulation, many of which the Company will have to comply with for the first time after the closing of the business combination; geopolitical events and changes, as well as other relevant risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, (the "SEC"), including its report on Form 20-F for the period ended December 31, 2008 and the Form 6-K filed with the SEC on December 29, 2009 containing the proxy statement relating to the Business Combination which was mailed to shareholders of the Company, in particular, those listed under "Risk Factors." The information set forth herein should be read in light of such risks. The Company does not assume any obligation to update the information contained in this press release.

SOURCE DJSP Enterprises, Inc.