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Ian Hopkins rejoins Lombard Risk to run ValuSpread business

London, 1st March 2005

Lombard Risk Management plc, a leading provider of risk systems and independent valuation services, is pleased to announce that Ian Hopkins has rejoined as Managing Director of the successful ValuSpread business.

Ian Hopkins previously founded and headed up the ValuSpread business at Lombard Risk during his six-year tenure with the company.

The ValuSpread Credit Service provides precise and regular daily market data on credit default swaps. It enables leading market makers to contribute pricing data anonymously, and to obtain independent peer group validation of their mark-to-market values, in order to meet internal and external regulatory requirements. Launched in 1999, it was the first service of its kind for credit derivatives, initially providing data on a monthly basis for plain vanilla instruments. Since then it has grown significantly, and now handles a wide range of price data daily. It also offers related analytics and covers both plain vanilla instruments and complex structured credits such as CDOs and baskets.

In addition, ValuSpread is the premier supplier to the market of daily consensus credit default swap spreads through its ValuSpread Credit Data service. This includes one of the most comprehensive databases available for historical information on credit default swap spreads.

"We are delighted to welcome Ian back" said John Wisbey, Chairman, CEO and founder of Lombard Risk, "He made an invaluable contribution in founding the business and we believe that he is the right person to take it forward and expand its scope further."

"I'm very excited about rejoining the ValuSpread business" said Ian Hopkins, new Managing Director of ValuSpread, "The scale of the business has grown tremendously since I left and there has been an impressive range of new initiatives to drive the service forward, which I look forward to building on further. In addition, having had a chance to assess the market from the outside, it is clear that ValuSpread remains the premier service in the marketplace focussed very clearly on the needs of the credit markets".

Ian Hopkins is operational in his new role from today, 1st March 2005.