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FTI announces release of StreetEnterprise 6.3 -- its flagship enterprise-wide securities processing solution

NEW YORK - July 20, 2004 - Financial Technologies International (FTI), the leading provider of financial enterprise software (FES) to the global banking and securities industry, announced the availability of the latest release of StreetEnterprise, the industry's leading securities processing solution for the mid-to-back office operations. With specific functionality enhancements and new features across the integrated component products, customers benefit from enhanced data management and accessibility including improved SWIFT capabilities, workflow and exception management. As a provider of world-class solutions, FTI continues to emphasize product performance, availability, and scalability to address the growing need for real-time data management. This release continues to provide a more simplified implementation framework enabling customers to secure a quicker return on their investment.

"As more and more firms are adopting an enterprise-wide view of their mid- and back-office environments, the implementation of a single integrated operating platform is a strategic means of gaining improved levels of efficiency," said Michael Meriton, President and CEO of FTI. "We're excited about this new version of StreetEnterprise because it continues to expand the vision to extend the boundaries of financial services processing. These include handling increasingly complex instruments, integrating data from a wide variety of sources, automating processing to reduce the rate of errors, and moving to a real-time operations environment."

StreetEnterprise continues the process of harmonizing the architecture and operating environment by utilizing the underlying Oracle UIX and AQ framework enhancing performance, scalability, and reliability. Additional functionality has been added to each of the core products. Key improvements include the following highlights:

· StreetReference -- further automates the processes required for successful reference data management. The product has been refined to improve the quality of data received from vendors through several enhancements, including, but not limited to:

- models to monitor completeness of information for processing requirements

- additional edit and validation rules

- integrated information from across multiple sources through the use of user defined hierarchies

- access to each unique source of data

- improved automated exception identification and resolution

- 'single or multiple golden copies' as required by internal business lines processing requirements

- integrated process workflows to ensure approval and integrity for all user revisions

- improved data accessibility and publishing capabilities

StreetReference also facilitates the integration of information across both securities data, customer and counterparty data, and will maintain the related entity hierarchies that exist to the highest corporate level.

- StreetBooks - StreetBooks' enhancements facilitate the management of constant changes to the portfolios on a scheduled and on-demand basis. Today's volatile market conditions and increased regulatory requirements mean that a firm's investors are looking for up to the minute statements of their client's position and market values. This latest release provides enhanced real-time accrual capabilities to enable the handling of more complex fixed income securities in conjunction with the already existing sophisticated accrual processing. Additional StreetBooks improvements include enhanced real-time on-demand valuation and re-valuation processing as well as additional real time reporting and improved query capabilities.

- StreetDirector -- is a functionally rich global transaction lifecycle processing engine that supports user-defined workflows for incoming, outgoing and internal transactions, as defined by an institution. Enhancements for this release include the support of block trading and time-sensitive processing to support global end-of-day requirements.

- StreetActions - FTI's global corporate actions processing engine has been enhanced to include multi-organization processing, to support multiple lines of business (e.g. Private Banking as well as Custody) or as an outsourcing platform for their own customers. Each line of business can be set up with separate Routes and Steps taking the different needs of different business units into account.

StreetActions has also been enhanced with the automated receipt of incoming SWIFT MT564 'Corporate Action Notification' and SWIFT MT565 'Corporate Actions Instruction' messages, the ability to publish outgoing SWIFT MT564 'Corporate Action Notification' and SWIFT MT565 'Corporate Actions Instruction', together with a user interface for the management of these messages. This enhancement will help users to comply with the increasing corporate governance needs being imposed. This enhancement also provides better management tools for exception handling as well as enabling a more automated, hands-off, corporate actions lifecycle process.

"The enhancements for StreetEnterprise 6.3 have been driven by the current industry trend toward greater client centric views of business activity in order to achieve a high level of responsiveness to corporate governance and compliance," Bob Wolfert, EVP of Product Management, comments. "By building close working partnerships with our customers, FTI continues to improve its core product line and deliver innovative enterprise software solutions that answer their business challenges today and empower them for greater success tomorrow."