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Bancmetrics sales up by 50% since COR acquisition

LONDON, December 1st 2003: Two months on from acquiring the assets of Bancmetrics, the US based application service provider of portfolio accounting and analytics services, COR-IBS, a division of COR Financial Solutions, announce a 50% increase in Bancmetrics revenues.

The combination of a reliable and functionally rich service and a high quality
customer service has been instrumental in achieving this growth from both new
and existing customers.

Pat Philpott, President of COR-IBS Inc, said: "this significant increase just goes to prove that the demand for proven ASP solutions is growing, and that we have a compelling product offering. We can now offer solutions to any size of client, from the smallest to the largest of institutions."

Karen Smith, Director of ASP solutions at COR-IBS said: "we are very pleased
with the response to our integration with PARAGON, COR-IBS’s portfolio
accounting solution. The support from our existing client base has been
tremendous, and we continue to bring more institutions onto our platform."

The Bancmetrics unit operates as a separate ASP solutions unit under the CORIBS
division and brings COR a further US presence through their offices in Walnut
Creek, California. The Bancmetrics service is currently used by a number of US
institutions, including Duncan-Williams Inc, BOSC Inc and Bank Investment
Group.