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Tata Consultancy Services join Corporate Actions and Information Services Benchmarking

London, 2 April, 2004 – CityCompass, the independent facilitator of contemporary market issues affecting the financial services sector, today announced another leading corporate action supplier Tata Consultancy Services has joined ADP Wilco, CheckFree, Information Mosaic, Mondas, Vermeg and XcitekSolutionsPlus in participating in the unique business benchmarking of software and information vendors, to be held at the Merchant Taylors’ Hall, London on the 30th June.

A spokesperson from Tata Consultancy Services said "Corporate Actions processing is assuming greater importance because of standardisation and shortening settlement cycles. Events like BISS give solution providers like TCS the opportunity to benchmark their solutions against market requirements and industry best practices. It also provides a platform for meaningful vendor-user interaction."

Gary Wright, Managing Director of CityCompass and creator of the benchmarking concept stated "The 2004 Benchmarking event is the only major forum in Europe that concentrates on all the important issues surrounding corporate actions including the IPO market. The inclusion of Tata Consultancy Services will add to the quality and coverage of the benchmarking, which will show the leading players and how they are meeting the industry challenges in corporate actions issues. The conference and roundtable sessions will provide a superb chance for all people involved in settlement of primary and secondary market issues to hear the latest on listing rules, harmonisation of rules, offshore/onshore outsourcing and standardisation of settlement." Gert Raeves, Business Development Director, CheckFree Financial & Compliance Solutions (which acquired HelioGraph last year), said "The increasing maturity of the Corporate Actions marketplace means the CityCompass benchmark is a very useful way for CheckFree-HelioGraph to update the marketplace. Minimising product and vendor risk will be high on the list of priorities for all attendees, and the CityCompass benchmark is helping us reach the sophisticated buyers in this space."