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Positive reaction to Linedata Services' initiatives at the Icon User Group

London, 12 November 2004 - Linedata Services, a leading provider of software and services to the global financial services marketplace, attended its customers’ second Icon User Group of 2004 at the new Radisson SAS hotel at Stansted Airport last month. More than 30 Icon customers were joined by representatives from Linedata Services.

In a series of presentations led by Paul Roberts, Chief Operating Officer at Linedata Services (UK) Ltd, Linedata Services gave its customers an update on developments and activity since the previous User Group meeting in February, including an introduction to Linedata eReport*, Linedata Services’ latest addition to its product range.

Linedata Services and Royal London Asset Management jointly presented their assessment of the impact of International Accounting Standards (IAS). This covered the facilities available in Icon to support adoption of IAS and the wider impact on business operations. The presentation reflected the close co-operation between Linedata and Icon customers on this successful project.

Judith Ajayi, Investment Accounting Specialist at Royal London Asset Management, commented, "I was asked to talk to the group about our experiences of IAS and its impact on our business processes; although we are not obliged to comply at present we have chosen to implement on the basis that UK GAAP will eventually converge and having an IAS ready system will serve as a competitive advantage both for existing and new clients."

Julian Baines, Investment Servicing Manager at Royal London Asset Management and the Chairman of the Icon User Group, commented, "I have attended a variety of products’ User Groups over the past 13 years, but today’s was the most positive one as Linedata had shown they had listened to the items raised at previous meetings and reacted accordingly."

*Linedata eReport is a complete reporting solution which enables organisations to streamline their reporting overheads through the automation of reporting processes, from generating and distributing individual and pre-defined reports in any number of languages for specific recipients, to hosting reports for 24/7 accessibility.