SAI Global Acquires Compliance and Ethics Learning Solutions Corporation for $45 Million

Chicago, IL (January 31, 2007) – Compliance and Ethics Learning Solutions, Inc. (CELS), a Chicago-based holding company created to target the compliance training sector, announced today that it has been acquired by SAI Global Limited (ASX: SAI), a global provider of standards, compliance, and business improvement solutions, for US$45 million. A syndicate of investors including Chrysalis Ventures, KB Partners, OCA Ventures, CID Capital, and management initially funded CELS in May 2004.

CELS used proceeds from this initial financing to fund a merger with Midi, Inc., a small Princeton, New Jersey-based provider of compliance and ethics on-line education and awareness solutions to corporate enterprises. Today, CELS/Midi is a leading provider of enterprise-wide compliance and ethics programs for Global 2000 companies. It provides organizations with the compliance and ethics training courseware and program management tools they need to reduce legal risk and enrich a consistent culture of compliance and ethics worldwide. CELS/Midi serves blue chip clients in North America and directly complements SAI’s existing business in Europe, North America, and Australasia.

According to CELS/Midi President Tom Parry, who will be staying with the company, “As part of the SAI Global Compliance Division, we look forward to offering our clients a broader set of compliance and ethics solutions including an expanded courseware library and additional compliance and risk management tools. We are also appreciative of the expertise and hands-on assistance we have received from Chrysalis Ventures, KB Partners, OCA Ventures, and CID Capital since our initial funding in 2004. Their capital commitment, as well as the guidance that they have provided, have helped us significantly develop and expand our operations and our client base.” Mr. Parry and other key management of Midi will remain with the business.

Bob Saunders, Chrysalis Ventures Managing Director and CELS Board Chairman added, “CELS/Midi is a strong strategic fit with SAI’s compliance business, and this acquisition adds significant scale to SAI’s North American operations while helping expand Midi’s presence in Europe. The newly combined entity further establishes SAI as a leading global player in what is still a highly fragmented but rapidly growing industry. We are delighted for both parties to join forces in what is SAI’s fifth North American acquisition.”

Robert Garber, KB Partners Managing Director and CELS Board Member concurred. “The management team and employees of CELS/Midi have successfully leveraged their award-winning compliance and ethics solutions to become a respected industry leader. By joining SAI, CELS/Midi has further solidified their position in the marketplace and secured the resources necessary to continue their mission of providing comprehensive compliance solutions to corporations worldwide. We congratulate them on their accomplishments and wish them continued success as part of the SAI organization.”

About SAI Global
SAI Global (ASX: SAI) is an applied information services company that helps organizations manage risk, achieve compliance and drive business improvement. The company provides an extensive range of solutions and services in the areas of compliance, regulation, ethics and risk management. For more information, pleas visit www.sai-global.com.

About Midi
Midi, Inc. is a leading provider of enterprise-wide compliance and ethics solutions for Global 2000 companies. Midi Global Solutions provide organizations with the compliance and ethics consulting expertise, technology, globally relevant courseware, and program management tools they need to reduce legal risk and enrich a consistent culture of compliance and ethics worldwide, leading to enhanced corporate trust. For more information, please visit www.midicorp.com.

About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Midwest and South. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has more than $250 million under management and has made investments in over 50 companies. For more information, please visit www.chrysalisventures.com.

About KB Partners
KB Partners is a leading Chicago-based venture capital firm focused on investments in early-stage technology companies in the Midwest. Founded in 1996, KB Partners manages two venture funds totaling in excess of $95 million that target opportunities in the hardware, software, medical and industrial industries. For more information, please visit www.kbpartners.com.

About OCA Ventures
OCA Ventures is a venture capital firm focused on investments in companies with dramatic growth potential, primarily in technology, financial services, for-profit education and technology-enabled services. OCA Ventures believes that venture capital investing is successful when a strong partnership is forged with the entrepreneurs in which it invests. This active partnership approach is how OCA Ventures manages financial and operational risk. For more information, please visit www.OCAVentures.com.

About CID Capital
Since its founding in 1981, CID Capital has been a leading provider of investment capital to private companies headquartered throughout the United States. The firm has invested in over one hundred companies and in each investment has partnered with high-caliber, successful entrepreneurs and business owners. In the role of investment partner, CID Capital’s professionals work actively alongside management and other shareholders to deliver superior investment returns. CID Capital currently manages over $430 million in two distinct forms of investment capital, Venture Capital and Private Equity Capital, from offices located in Indianapolis, Indiana, Chicago, Illinois and Columbus, Ohio. For more information, please visit www.cidcap.com.