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London, 11th April 2002 - Dealing With Technology Conference 2002 - Iris Financial Systems, a leading provider of bespoke component-based financial software solutions, is today formally launching its Component Service Architecture (CSA)(tm) after three organizations successfully completed beta testing. The CSA(tm) is a series of technical, business and application components written in Java for the Java 2 Enterprise Edition (J2EE) development platform. The CSA(tm) architecture will enable Iris Financial Systems' customers to benefit from rapidly developed, highly scalable trading and risk management solutions that can be easily integrated with legacy systems.

Iris Financial Systems' original development environment was based on client/server technology and written in C++. Kevin Galliers, Vice President of Sales at Iris Financial Systems, comments: "We made the decision eighteen months ago to re-develop our business components and core technology for J2EE because our customers and the industry as a whole have identified J2EE as a strategic development platform. The CSA(tm) is specifically designed for trading organizations that want extensible technology, real-time management information and reporting capabilities and highly-tailored trading functionality."

Iris Financial Systems has been developing component-based trading and risk management solutions for the past eleven years and the CSA(tm) is a culmination of this industry experience. Galliers comments: "Our senior engineers have a great deal of experience of trading, the evolution of trading technology and the dynamic functionality requirements of our customers. The world's leading banks are looking to integrate new functionality across all financial products and the CSA provides an opportunity to establish a common infrastructure that will enable institutions to replace their current silo systems and reduce the level and cost of system support."

The CSA(tm) offers a highly extensible solution and all of the components themselves are forward-engineered to guarantee long operational lifecycle. We recognize that our customers do not want to be constantly replacing core technology. The flexibility inherent in component-based solutions and the scalability of the J2EE technical infrastructure ensures our customers will benefit from a greatly improved return on their technological investment.

Iris Financial Systems will formally launch the CSA(tm) in New York City on Tuesday 7th May and shortly thereafter in Tokyo.