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FNS targets Russian banks through BPC partnership

Sydney, 26 August 2004 - Financial Network Services (FNS) today announced
the finalisation of a partnering agreement with Banking Production Center
(BPC) to supply BANCS, it's core banking solution to the Russian marketplace. The agreement will also span surrounding countries including Belarus, Kazakhstan and Kyrgyzstan. BPC brings extensive knowledge of the local Russian marketplace and those of the other regions to the partnership.

Peter Newman, General Manager of FNS Europe said: "Russia is an important
strategic market for us. The Russian financial institutions are now facing
the same level of regulatory requirements as those in the West. This increasing regulatory pressure means that Banking Solutions must be capable of adapting to the fast-changing regulatory requirements. In addition retail banking customers in Russia are also now demanding access to the sophisticated banking products that have been developed in other areas of Europe and the combination of these two factors along with the global need for banks to drive out the cost of running legacy banking systems, make the Russian market an exciting opportunity for us."

BPC have demonstrated their knowledge of the Russian banking market place and will ensure that BANCS quickly complies with local configuration requirements. BPC has created a solid and reliable reputation in the Russian market for over 10 years, delivering a state of the art transaction processing and card management system, SmartVista, to the banking community. BPC has as its core value an unconditional priority to it's customer's interests and this is the key to its leading position in the implementation of contemporary technologies in the banking sphere.

Some of the most sophisticated banks in the region such as Alfa Bank are listed among BPC's customers and BPC specialists are currently involved in different projects at a number of Russian and international banks.

The joint expertise of the two organisations will enable the partnership to
offer the type of integrated and innovative solutions that will unlock the
dependency that major banks in Russia have in expensive and fragmented legacy systems.

Anatoly Loginov, CEO, President, BPC commented: "we are pleased that we have
formalised a partnership with FNS. Whilst it is an Australian based company, it has a presence throughout Europe with global reach and credibility and a very modern and flexible banking solution, which we see as a winning formula for us and our prospective customers. Legacy systems in Russia are still prevalent but we are certain that our knowledge of the local marketplace and implementation expertise and FNS' BANCS software will make an irresistible combination for the banks here in Russia."

Trevor Builder, FNS Vice President Corporate Marketing added: "I am pleased that BPC has decided to work exclusively with FNS within the scope of our Partner Program. It is further encouragement that local partners can provide the local knowledge we need to deliver our global solutions."