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SUITE LLC APPOINTS DR. GENE SCHUPAK TO ENHANCE CREDIT DERIVATIVE TECHNOLOGY OFFERING

New York, August 29, 2003- Suite, LLC, a financial technology firm and owner of a set of derivatives valuation and risk management tools based on technology built by JPMorgan and its technology spin-off, Cygnifi, has appointed Dr. Gene Schupak as Head of Quantitative Research and Development. Suite delivers source code to this "best of breed" technology along with customization, integration and support services for its banking, technology and hedge-fund clients. Gene was the former Head of Derivatives Research at Cygnifi in New York and has extensive experience with the analytical tools and quantitative modeling.

Suite’s assets include more than 12 systems and tools including a world-class analytic library (with over 500 functions including curve construction and pricing for exotic OTCs), easy-to-use pricing tools, FAS133 hedge paring and hedge effectiveness, credit risk management and collateral management solutions and a tested robust ASP infrastructure. Suite has been successful in keeping the tools technically updated, and continues to generate sales of source code along with ongoing support contracts.

Gene holds a Ph.D. in Physics from the Kiev Institute of Thermophysics and an MS in Mathematics from Kiev State University as well as broad experience with the JPMorgan/Cygnifi Analytics. Most recently as the head of the Quantitative Research Group at Swiss Re Financial Products where he led product development for the Pricing and Risk Management of Credit and Interest Rate Derivatives. Prior to that Gene was head of Quantitative Research at Cygnifi in New York where he was responsible for Counter-party Exposure Risk Management and Derivatives Valuation Services. In this role he worked on the commercialization of the Derivatives Analytic Library and Sampras Counterparty Exposure applications. Gene has also held senior-level quantitative research positions at other firms such as Goldman Sachs, BNP Paribas and Cooper Neff.

"Gene’s involvement is key as we embark on enhancing the tools’ ability to support Credit Derivatives", said Edward Chester, Managing Partner at Suite. "He brings a wealth of knowledge to the table, along with practical experience that will greatly influence our product and service offerings".