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ALGORITHMICS SEES SIGNIFICANT CLIENT RESPONSE TO ALGO SUITE 4.4

TORONTO, CANADA - April 21, 2004 - Algorithmics Incorporated today announced that the latest version of its industry leading enterprise risk management software, Algo Suite 4.4, has garnered significant response in the first two months following its general release. To date, thirty clients have selected Algo Suite 4.4.

"This is the strongest response we have seen to a release of our 4.0 architecture," said Michael Zerbs, Chief Executive Officer of Algorithmics. "As of today, we have sixteen Algo Suite 4.4 migrations underway and fourteen scheduled over the next few months. The list continues to grow as clients opt for a best practices approach to regulatory capital management for Basel II, the significant performance and cost benefits of Linux and distributed computing, and the sheer analytic power and scalability of our Mark-to-Future enterprise risk architecture."