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MANTAS RELEASES NEXT GENERATION COMPLIANCE OFFERING

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Mantas 4.0 Offers Unprecedented Performance, Flexibility and Cost Effectiveness for Financial Services Compliance

HERNDON, Va. - September 7, 2004 - Mantas today introduced Mantas® 4.0, featuring new versions of the Mantas Behavior Detection Platform(tm) and Mantas' core anti-money laundering, trading compliance and broker compliance applications. Technology and compliance improvements in Mantas 4.0 provide customers with greater ability to meet demanding regulatory requirements, improved flexibility and scalability, and lower total cost of ownership. Mantas 4.0 is the financial services industry's only enterprise-wide solution that enables customers to deploy multiple compliance applications on a common platform.

Changing Compliance Landscape

Improvements in Mantas 4.0 reflect the changing role that compliance plays in financial institutions' operations and risk management policies. With the increasing frequency and severity of compliance penalties, financial institutions of all sizes are looking for enterprise-wide solutions that offer protection across multiple business lines and geographies.

"Implementing compliance systems should no longer take a 'do just enough to appease the Feds' approach," said Robert Iati, research director for TowerGroup. "Rather, forward-thinking institutions should seize this opportunity to leave their 'fire-drill' tactics in the past, and build holistic systems that gaze across the enterprise to offer protection for not only the immediate regulatory concern but, more importantly, provide a solid foundation for meeting all future compliance needs."

Mantas 4.0 immediately delivers the benefits of improved risk management and reduced technology overhead through the adoption of one common platform for all compliance requirements, across multiple business units, client bases and financial products. To identify potential compliance violations, the solutions employ customizable behavior detection 'scenarios' that identify and analyze hundreds of compliance challenges - from insider trading to client suitability, from anti-money laundering to abusive squeezes, from identity fraud to mutual fund abuses.

Technological Innovation

At the core of Mantas 4.0 is the Mantas Behavior Detection Platform 4.0, a comprehensive set of integrated software, analytics and detection techniques that provides customers with the most advanced solutions for compliance and reputational risk management. A key innovation in Mantas Behavior Detection Platform 4.0 is a unified data model and analytics layer which provides 'plug-n-play' of detection scenarios, faster and easier deployment, and the ability to enhance existing implementations with minimal disruption or downtime. The new release of the platform powers all Mantas applications, giving users greater flexibility to tailor a compliance solution to specific business needs.

"Mantas is taking the right approach by delivering a comprehensive platform for decision-centric business intelligence that incorporates technology for sophisticated pattern detection and discovery," said Henry Morris, Group VP for Integration, Development and Application Strategies at IDC. "Enhancements to the platform can be leveraged by each analytic application, addressing a variety of compliance requirements."

Additional technology improvements give Mantas 4.0 greater flexibility and scalability, while driving operating costs even lower. The new releases now support the Linux Redhat Advanced Server family and both the IBM BladeCenter xSeries and the HP BL Blade Solution. These platform improvements give customers greater independence, lower operating costs and the flexibility to choose the operating system that best fits their existing IT environment.

"For years, Mantas has been known for the rich functionality and expertise that are cornerstones of our products," said Simon Moss, chief executive officer, Mantas. "We've leveraged this expertise and global client relationships to create Mantas 4.0, a total solution for financial services compliance. Mantas 4.0 offers an order of magnitude improvement against anything in the market for cross-enterprise compliance covering all products, globally."

Improved Global Enterprise Compliance Capabilities

Mantas 4.0 incorporates an advanced case management capability that allows users to manage risk alerts using an integrated case management solution that features a rich workflow and document management system. New e-mail capabilities enable automatic alert notification and alert forwarding. The new release also provides greater protection and risk management to customers through intra-day ingestion and detection and enhanced risk scoring to better identify and prioritize alert workflow. Additionally, Mantas 4.0 provides advanced functionality for both local and global deployments with multiple language support, multiple currency support, and multiple date and time zone functionality.

Improvements in individual compliance categories include:

· Mantas Anti-Money Laundering Solution(tm) 4.0 features an expanded set of scenarios that compare an individual entity's current behavior against historical patters (Change in Behavior), temporal activities (structuring and velocity), innocuous hidden links (hidden relationships) or anticipated patterns (Anticipatory Profiling). These scenarios cover retail, wholesale, private, brokerage and capital markets globally.

· Mantas Trading Compliance Solution(tm) 4.0 provides an expanded set of scenarios for fixed income surveillance extends coverage of global equities and listed derivative trading behaviors, and enriches the Mantas Market Replay Market(tm) feature to enable user-specified comparison of firm data (orders, trades) against external market data (market center quotes, reported sales) on a tick for tick level - complete market transparency. The Mantas Replay Market feature provides compliance analysts with the most powerful tool available to build an accurate perspective of the market conditions at the time of the questionable activity to enable accurate analysis and resolution of issues

· Mantas Broker Compliance Solution(tm) 4.0 includes improved mutual fund breakpoints monitoring, mutual fund B & C share purchases monitoring, and heightened supervision of brokers. Mantas has added the ability to identify brokers on heightened supervision and to apply more restrictive thresholds on the trading activity of those brokers in order to manage risk more effectively. Mantas has also expanded its Surveillance Tiers feature to tailor compliance parameters to different account and client types such as Employee Accounts, Retirement Accounts, Private Client Accounts and other groupings defined by your business.

· Mantas Mutual Funds Compliance Solution(tm) 4.0 includes new mutual funds monitoring for surveillance of trading activity and potential money laundering violations. The Mutual Funds Compliance Solution leverages Mantas powerful and tested compliance analytics for trading, employee and client behavior, and money flows with a flexible UI to tailor the application to the information display needs of the Mutual Funds compliance organization.

"Mantas has taken compliance to a whole new level and Mantas 4.0 clearly demonstrates why Mantas is considered number one in the market," added Moss. "Our competitors can say what they like - but choose something other than Mantas and perhaps your firm won't be as protected as it should be."

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