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Waters’ Readers Vote Charles River IMS "Best Order Management System" and "Best Portfolio Management System"

BURLINGTON, MA, LONDON and MELBOURNE, July 6, 2005 — Charles River Development today announced that the global readers of Waters magazine voted its Charles River Investment Management System (Charles River IMS) the "Best Order Management System" for the second consecutive year and "Best Portfolio Management System." Charles River, a market leading provider of global investment management software and services, is the only firm to receive an award in two categories in this year’s Waters Rankings 2005. The annual rankings, revealed on June 29 at an awards ceremony in New York City and in the July issue of Waters, are the readers’ choice awards and recognize the combined leadership of technological capabilities and human expertise.

Charles River IMS is a comprehensive front- and middle-office software suite for portfolio management (Charles River Manager), order management and electronic trading (Charles River Trader), and real-time compliance monitoring (Charles River Compliance) deployed at over 165 client firms worldwide. Waters, which has over 10,000 readers in the financial technology sector, asked respondents to vote for the best software, hardware, and financial services vendors in 13 different categories. Over 700 buy- and sell-side end users voted, representing a global breakdown of 55% from the U.S., 30% from Europe, 10% from Asia Pacific, and 5% from rest of the world.

"By voting Charles River IMS the ‘Best Order Management System’ and ‘Best Portfolio Management System’ our clients have confirmed Charles River’s ability to consistently deliver rich functionality in an open, flexible, easy-to-use application. Those capabilities combined with our focus on customer service and our employees’ deep industry experience, provide clients with the confidence to enter into a long-term partnership with Charles River. The longevity of our global client base speaks to this reliability," said Peter Lambertus, president and CEO of Charles River Development. "It is particularly exciting for us to see such an overwhelming response and support for our portfolio management capabilities. Over the last year, we continued to work closely with clients on a variety of portfolio management enhancements relating to asset allocation, capabilities for multi-discipline portfolios, and currency and derivative exposure management tools."

The organization is the recipient of numerous industry awards including: Top Compliance System 2005 / Global Investor magazine, Best Buy Side OMS / Waters Awards 2004, Top OMS System 2004 / Global Investor magazine, and Vendor of the Year 2004 / Operations Management newsletter.