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Alfa Bank adds FOCUS to their operations

NEW YORK, NY- April 30, 2001 - EGAR Technology, a leading provider of capital markets software,today announced that Alfa Bank has licensed EGAR’s FOCUS trading and risk management system from its Intermark division. The agreement was signed out of EGAR's Moscow office.

Simon Vine, head of Fixed Income at Alfa Bank, Russia’s largest private
bank, said "The key reason we purchased FOCUS was for its incredible
flexibility and adaptability. We were specifically impressed with the
flexibility of the FOCUS Margin Module, which was quickly adapted to support
not only Alfa Bank’s standard international margin trading operations, but
also its local market practices."

In selecting FOCUS, Alfa Bank was particularly attracted to the ability of
FOCUS to support, in one system, all front-office trading activities for FX,
FX Options, Fixed Income and Margin Trading. The FOCUS Real Time Margin
Trading module and several other modules have been implemented and are live.
Alfa Bank also admired the ease of use, quick implementation cycle, and
advanced analytics of the FOCUS system, in addition to EGAR’s ability to
deliver custom enhancements.

"The sale to Alfa Bank exemplifies the strengths of a FOCUS implementation,"
commented Ravi Jain, President of EGAR "It is a major step for EGAR because
Alfa Bank will use multiple modules of FOCUS. This is not only additional
proof of how good the FOCUS Margin Module is but also a successful example
of how FOCUS provides a complete banking front-office system solution."

EGAR Technology has been developing the FOCUS system since 1993. It is an
integrated system which provides means for monitoring positions, managing
risks, limit control, estimating financial instruments including
derivatives, real-time profit/loss calculation and transaction processing.
The system supports almost all existing trade types in OTC and Exchange
financial markets in one product, which represents the necessary
functionality for major financial institutions with centralized processing
investment information.

About EGAR Technology
EGAR Technology is a New York and Moscow-based firm specializing in capital
markets systems, web applications, and software development. One of the
fastest growing software and related services practices in financial
technology, EGAR Technology’s foundation is its highly specialized capital
markets expertise and technical agility. EGAR’s focus is on bringing its
unparalled software development experience and resources to market through
two services: 1) a suite of 'pre-packaged' systems or tailored software
solutions based on a common underlying proprietary technology platform; and
2) complex e-finance web development. EGAR's team exudes firepower and a
level of sophistication the likes of which the editor-in-chief of a
financial technology publication said he had never seen before in this

For more information on this press release or any other EGAR Technology
related news, please contact:

Carri Brown
(+1) 212-223-3552
[email protected]