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Dealing Systems Expert Warren Sherman Named Kamakura Managing Director

HONOLULU, February 13, 2002—Risk management software and information firm Kamakura Corporation announced today that Warren Sherman has been named Managing Director at Kamakura for client technical services and product management. In that role, Mr. Sherman will oversee the installation and design of the Kamakura Risk Manager credit risk, market risk, performance measurement and asset and liability management system. He will also manage the company’s Kamakura On-Line Processing Services and Kamakura Risk Information Services product lines. Mr. Sherman is an eleven-year veteran of the Sungard Global Markets Division of Sungard Data Systems, where he was responsible for the design of the Global TraderTM and eGlobal TraderTM sell-side trading systems.

"Warren Sherman has played an invaluable role in providing risk systems to major institutions in Europe, the Americas, and Asia" said Dr. Donald R. van Deventer, President and Chief Executive Officer of Kamakura Corporation. "The Managing Committee at Kamakura has been aware of Warren’s expertise in trading and risk applications for more than 20 years, and our clients are extremely pleased to be able to call on Warren’s expertise."

Mr. Sherman was Vice President and Manager of Global Trading and Distribution Systems at First Interstate Bank in Los Angeles and London from 1986 to 1991, and prior to that served as Vice President and Assistant Treasurer for short-term finance at First Interstate Bancorp and as a Vice President of Operations at First Interstate Bank. Mr. Sherman was a Fulbright Scholar in economic philosophy in Yugoslavia and attended the Masters degree program in business administration and operations research at Loyola Marymount University. He earned his Bachelor of Arts degree from Hope College.