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COR wins new contract for TBA Trader with leading global asset manager in the US.

LONDON, November 11 2004: COR Financial Solutions (COR-FS), international provider of asset management and banking software today announced it has completed a sale of its TBA Trader product to one of the largest global asset managers.

TBA Trader is a leading front-end TBA management system, incorporating a
sophisticated optimization engine and a real-time EPN (Electronic Pool
Notification) Interface.

Pat Philpott, President, COR Financial Solutions, New York, said: "The TBA Trader client base continues to grow. TBA Trader is being used by some of the largest asset management firms in the country. Clients are selecting TBA trader based on cost, functionality, ease of use, ease of implementation and the fact that it is a proven solution."

TBA Trader is modular yet fully-integrated - you license only what you need. Our
modules include the Front-End Trade Blotter, Optimization Engine and EPN-Link.
TBA Trading Module The trading module supports overall TBA management with efficient and effective:

• Communications systems
• Record-keeping
• Reporting
• Trade-entry

TBA Optimization Module
TBA Trader also includes a TBA optimization engine, which automatically allocates pools for TBA trades. The optimization module enables users to:
• Filter inventory in order to keep desirable pools
• Under or over deliver to maximize profits
• Automatically allocate MBS pools in BMA good delivery format
• Selects small pools first
• Avoid the splitting of pools
• Allocate hundreds of good millions in seconds
• Greatly increase competitiveness and profitability

The EPN-Link is an easy to use real-time TCP/IP computer-to-computer interface
to the EPN network that automates the transmission and receipt of pool
allocations, eliminating the re-keying of data, reducing errors and ensuring
deliver prior to cutoff time. The EPN-Link provides the following features:
• Displays a list of exception messages, and allows users to DK, Reprocess, Erase or Re-send any trades that do not match the trade requirements
• matches EPN message acknowledgments to outgoing messages and sends
retransmission requests if a sequence gap is detected
• Provides real-time on-line reporting to monitor the transmission and receipt of messages
• Incoming notifications are verified and allocated to open TBA buy positions to
ensure BMA guidelines and any stipulations have been met
• Allocated TBA buy transactions can be automatically matched and turned to
open TBA sell positions and immediately sent to the EPN