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Nothern Arch Ltd

Press Release-London, 28 April 2004

Northern Arch, a global provider of asset finance, fleet management and consumer credit software, today announced the signing of a new client for 42™ -a revolutionary fully integrated end to end lease management system. Northern Arch’s solution will enable Fundcorp to automate its daily leasing and financing related business processes with straight-through processing, thereby minimizing costs and operational risk. Fundcorp’s system requirements needed a solution for the entire transaction lifecycle including contract initiation, collection and day to day processing, end accounting and risk assessment. 42™ is unique in being able to cater for these diverse requirements in one single system.

John Ridout, Director Northern Arch says "This provides further validation of our R&D providing an up to date robust infrastructure for the backbone of lease administration operations – the market appears to be looking for new strategic solutions to replace their legacy systems."

Richard Berkman, Fundcorp Ltd says "After extensive research of the market and having looked at many solutions, 42™ stood out as a solution that was at the cutting edge of technology whilst being flexible enough to fit our needs. We also saw in the staff at Northern Arch people who understood our business and who had the experience and knowledge to implement an end-to-end solution within the timescale set and more importantly on budget. However, the added bonus is that 42™ is highly scaleable and it means that as we grow and develop so will the solution which will protect our investment for the years to come."

Fundcorp Ltd is a special purpose finance company that supports retailers and manufacturers by enabling them to offer fast and convenient access to loans for both their Consumer and Commercial customers. Fundcorp sets up tailored sales aid finance programs with selected equipment vendors and other alliance partners, often with private-label branding. With a highly experienced management team and backing from major institutions, Fundcorp is setting new standards in the delivery of fast and simple sales aid finance. For more information about Fundcorp, contact Richard Berkman, Managing Director.