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Central Finance Board looks to the future with Linedata Services Asset Management and Icon

London, 2 February 2004 - Linedata Services, a leading provider of software and services to the global financial services marketplace, is pleased to announce that the Central Finance Board for the Methodist Church (CFB) has selected its leading back-office system, Icon.

The CFB has had a strong working relationship with Linedata Services for a number of years as a user of its IASII product for its fund accounting and valuation needs. Early in 2003, Linedata Services acquired Icon as part of the purchase of Thomson Financial’s Portfolio Accounting and Management business. Peter Forward, the Secretary for CFB, said, "When it was announced that Icon was joining Linedata Services’ stable, it was important that we assessed the potential benefits. Having considered the other options available to us, we came to the conclusion that we wanted to continue the Linedata Services relationship."

Icon is a scalable solution and can be deployed in a number of ways. As a business changes, the deployment mechanism can change to meet new requirements. CFB has selected Icon ASP, which allows the organisation to concentrate on its core business without having to manage the IT hardware and system administration. Linedata Services also offers Icon FM, a facilities managed service, as well as a fully ‘in-house’ option.

"Icon ASP is a cost effective solution and we have seen increasing levels of interest over the past year. I am delighted that CFB has decided to continue to work with Linedata Services and that it has chosen Icon ASP to meet its investment management requirements," said Paul Roberts, Chief Operating Officer at Linedata Services (UK) Ltd.

Forward concluded, "We are now looking forward to completing our migration to Icon ASP and are confident that it will provide us with a firm base upon which we can continue to build our business and generate an improved product for the benefit of the Methodist Church and our other charity clients."