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EFA Software Ltd. Joins FEA Alliance Partner Program

June 19, 2001 — Berkeley, CA

Financial Engineering Associates, Inc. (FEA) welcomes EFA Software, Ltd. a Calgary-based provider of market automation systems, to the FEA Alliance Partner program. FEA develops and markets risk analytics software. As an FEA Alliance Partner, EFA Software gains rights to develop and market proprietary applications incorporating FEA’s options pricing and risk management software technologies.

EFA Software plans to integrate FEA analytics within the company’s Equator 5 clearing and settlement application currently in development and slated for completion this year. Equator 5 is EFA’s newest, JAVA-based clearing and settlement solution and is scheduled for implementation in Poland with their National Depository for Securities in early 2003.

Since its inception, FEA has led advances in the design and development of technologies that now form the foundations of option valuation and risk management systems worldwide. FEA markets its analytics directly, and as embedded components of systems designed and implemented by the company’s more than two-dozen FEA Alliance Partners.

“FEA offers the broadest instrument coverage available with analytics that are well-established, industry-standard tools for valuation, pricing and market risk management,“ comments EFA Software Vice President and Chief Technology Officer Jim Bird. “FEA functionality will complement EFA’s already extensive business application experience, and help advance our ability to serve an expanding global client base.”

According to FEA Chief Scientist and President Mark Garman, “With FEA analytics our Alliance Partners can enhance their existing products with our proven option valuation technologies, as well as FEA value-at-risk (VaR) methodologies, the most comprehensive customizable market risk management tools available. We are most delighted to welcome EFA as an Alliance Partner.”