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Major UK Fund Management house signs up to BITA Plus integrated portfolio
management system for second term.
Old Mutual Asset Managers cite BITA Plus’ unique combination of a superior
database and tailor made optimiser as the secret of the system’s success.

3rd April 2001 - London - BITA Plus, the global provider of high-level
investment management and securities trading software, today announced that
Old Mutual Asset Managers has signed up to the new release of BITA Plus -
version 4.5.

Old Mutual Asset Managers (OMAM) in the UK is part of the worldwide Old
Mutual Group - a FTSE 100 company. Established in 1987, Old Mutual Asset
Managers has £4,127 million assets under management. The Structured Equities
Team at Old Mutual Asset Managers has been using BITA Plus to support their
quantitative investment strategy since 1999.

The quant team has signed up to a second term of two years with BITA Plus
and installed the latest version, 4.5. The system provides OMAM with
superior data management through FAME, time series analysis, powerful
optimisation and reporting, in a seamless integration.

"BITA Plus combines the essential elements that we require to conduct the
rigorous research, optimisation and backtesting that enable efficient
portfolio management through a quantitative approach", commented Gavin
Brown, Quantitative Analyst for Old Mutual Asset Managers. "Through BITA
Plus we are able to access an excellent database and analysis environment
and take advantage of the tailor made BITA Plus optimiser, which provides
the level of intricacy and number of variations needed by a team using
objective criteria, mathematical analysis and historical simulation to
create investment strategies."

Laurence Wormald, Director of BITA Plus explained that Old Mutual had been
impressed by the speed and flexibility with which BITA Plus allowed them to
capture new ideas, research and changes in the market. "The optimisation and
reporting functionality had also enabled OMAM to be very visible with
clients in terms of decision-making, performance and transactions."

The new BITA Plus version 4.5 will provide the latest global factor risk
model, a new user-friendly front-end and improved data checking. Aziz
Minhas, Global Portfolio Manager, OMAM confirms: "Version 4.5 is a testament
to BITA Plus’ ability to respond to clients’ changing needs. Key to the
success of our relationship has been BITA Plus’ willingness to listen to our
suggestions. The new version is an excellent improvement and we foresee it
remaining essential to the delivery of our leading edge quant investment