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CBaySystems Holdings Limited 

("CBaySystems" or "the Company")

APPOINTMENT OF NEW CEO AT MEDQUIST INC.

CBaySystems (AIM: CBAY), a holding company with a portfolio of investments in medical transcription, healthcare technology and healthcare financial services, is pleased to note the recent announcement from MedQuist Inc. (Nasdaq: MEDQ) detailing the appointment of Peter Masanotti as its new Chief Executive Officer. CBaySystems holds a 69.5% shareholding in MedQuist Inc., the world's largest medical transcription company.

The following extracts are taken from the MedQuist Inc announcement, the full text of which is accessible at the Investors section of MedQuist Inc's website, www.medquist.com:

"Mr. Masanotti, 53, was most recently managing director and global head of Business Process Sourcing at Deutsche Bank, where he was responsible for the offshore and onshore labor productivity and efficiency for the investment banking platform.

"Previously, he was chief operating officer and executive vice president of OfficeTiger LLC, a judgment-based knowledge process outsourcing firm, servicing major investment banks and Fortune 500 corporations. Prior to that, he was chief operating officer of Geller & Company, a privately held finance and accounting outsourcing firm. He also held executive positions at Baltimore Technologies Inc., a Dublin, Ireland-based e-security solutions provider, and at International Telecommunication Data Systems Inc., a leading billing and customer care solutions provider to the wireless telecommunications industry.

"Mr. Masanotti began his career at Kleban & Samor P.C., a Connecticut law firm, where he was managing partner. He is a cum laude graduate of Temple University of Law in Philadelphia and holds a bachelor's degree in economics (magna cum laude) from the University of Connecticut-Storrs.

"According to MedQuist Chairman of the Board Robert Aquilina, 'Peter brings a wealth of background in leading global operational teams in both the technology and labor sectors, along with strategic product management and customer-focused service development. We are pleased to have an executive of his caliber at the helm of MedQuist during this exciting time.' "

For further information please visit www.cbaysystems.com or contact: 

Notes to Editors: 

ABOUT CBAYSYSTEMS 

CBaySystems Holdings Limited is the holding company for a portfolio of businesses, including CBay Systems & Services Inc, CBay Systems (India) Private Limited, and Mirrus Systems, that provide medical transcription, healthcare technology, and healthcare financial services to the US healthcare industry. Our portfolio includes a 69.5% shareholding in MedQuist Inc.. CBaySystems Holdings Limited trades under the CBAY symbol on the AIM market of the London Stock Exchange.

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