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Computershare and Oslo Børs launch obSurveX - a joint venture in market surveillance

London, 16th October, 2002 This morning, Oslo Børs and Computershare Limited
announce a powerful new business partnership that will globally change the
landscape of central markets regulation and surveillance.

obSurveX - the name of the new joint venture - is based on the existing Oslo/Computershare partnership that is already running successfully in Northern Europe. The joint venture will make SMARTS technology available across multiple markets. It adds new business processes to this world-leading technology, to identify and capture market abuse across multiple financial instruments trading on different exchanges around the world.

Oslo has three years of experience with the SMARTS surveillance software,
the world's fastest market surveillance system provided by Computershare,
and has successfully provided real time regulation across multiple countries
and multiple legal and regulatory environments.

Iain Saville, European Chief Executive of Computershare said "Hot on the
heels of our deals with Deutsche Borse and the Hong Kong exchange, obSurveX
is a further example of Computershare working with an expert partner to
produce turnkey solutions for securities markets. We are delighted to be
able to bring together technology and expertise from around the world in
partnership to make the markets work better".

A key principle of obSurveX is to share resources and knowledge between
exchanges: current and new SMARTS users will join the obSurveX Committee and
use the obSurveX Alert Factory service.

The obSurveX Alert Factory will co-ordinate advice and requests from
obSurveX member exchanges to create new algorithms and alerts for all
markets. The goal of the factory is to optimise SMARTS' search for market
abuse by keeping all user alert rules up to date. The Alert Factory will be
backed by Oslo Børs and Computershare and will include a research and
development centre, plus a centre of excellence that will write alerts
following requests and advice from obSurveX members.

"The Alert Factory recognises a fundamental need for continual development
of new detection processes; a little bit like the regular virus up-dates we
get on our PCs at home," says Thomas Jones, Computershare's SMARTS Director
for Europe. "Just as viruses change, so does the type of trading activity that SMARTS is trying to catch. No system other than SMARTS has such a pro-active approach to the task of surveillance. No approach other than the Alert Factory can ensure that SMARTS continually meets our customers' evolving needs."

obSurveX members will work together in committee to improve the quality of
surveillance performed with SMARTS. The committee will build and grow standard solutions for investigation and evidence gathering using SMARTS.

The committee, together with the Alert Factory, will also build a database
of legal arguments and case law across various jurisdictions, developing
best practice in regulatory law, and offering help and guidance back to the
courts, governments and law enforcement agencies, to ensure effective

"The world of regulation and surveillance necessitates a level of secrecy,
and from time to time it is appropriate for the market not to know where
obSurveX is working, or where the SMARTS software is looking at company and
broker behaviour", comments Sverre Lilleng, Chairman of the obSurveX
Committee. "However, the significance of this new business partnership is
not just in regulation and surveillance, but in providing orderly markets
with greater transparency, leading to greater liquidity. A well-regulated
market is a good market, and therefore trusted."

Sverre Lilleng, head of Market Surveillance at Oslo Børs, is a leading regulator in Northern Europe and in his past life was a crown prosecutor.
Sverre and his team have taken the powerful SMARTS technology much closer to
the needs of law enforcers.

"Case-law aggregation will make it easier for regulators and exchanges to
identify market manipulation and insider trading, and establish a clear
basis in law for prosecution" he continues.

One of the immediate benefits of the obSurveX Alert Factory is that all
existing and new SMARTS customers will be entitled to the new alert
algorithms, and as the world's regulators and markets use the same
techniques and technology, it will allow them to share their findings. In
many ways, the obSurveX Alert Factory is conceived as a shared regulatory
and surveillance research and development facility.

Sverre Lilleng says "Over the last year, the Norex exchanges have built up a
very positive surveillance co-operation. This obSurveX agreement gives us
and other SMARTS users throughout Europe and the rest of the world the
opportunity to share case experience, alerts algorithms and operations

Thomas Jones says "Our partnership with Oslo builds a centre of excellence,
which will ensure that the ongoing SMARTS development keeps abreast of
developments in the market."

Contact information:
Thomas J. Jones
Tel: +44 207 448 8630

Sverre Lilleng
Tel: +47 227 34370
Oslo Børs

Juliet Tilley
Tel: 020 7457 2020
College Hill

Juliet Tilley
College Hill
Tel: 020 7457 2020
Mob: 07801 634480