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SWORD wins The Banker Technology award 2004 for the best compliance solution

London.--June 3, 2004-COMIT Gruppe, a leading provider of risk management software and consultancy, today announced that it has won an award from The Banker magazine for the best compliance solution. COMIT won the award for SWORD, its system for Operational Risk, Internal Audit and Corporate Governance, which helps banks comply with the latest regulations including Basel II and Sarbanes Oxley.

The Banker, part of The Financial Times Group, awards innovative technology vendors who have made a real contribution to advancing shareholder value and customer service within the last 12 months. The awards were judged by a panel of leading, highly respected industry commentators.

According to The Banker: "SWORD addresses operational risk within the compliance framework and enables an organisation to have all of their staff involved in the risk management process and to facilitate dissemination of risk management best practice throughout the firm."

SWORD has been highly rated by industry analysts like Gartner and IDC. It has also had a number of recent customer wins including Henderson Global Investors and Man Group plc.

Seamus O'Farrell, Managing Director of COMIT Gruppe (Ireland & UK) says, "We are delighted that SWORD has been recognized as the best compliance solution on the market by The Banker. We are encouraged by the positive results our clients report as they roll out SWORD, and are happy to see market demand for the product increase."