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Kalahari Upgrades to FINCAD Developer Version 8 for Next Release of kACE™

-- Partnership Success Elevates Customers Accuracy when Valuing Financial Instruments and Measuring Associated Risks --

Global. July 11th, 2005 – Kalahari, a global provider of real-time price discovery and analytic solutions to banks, brokers and other financial institutions today announced that they have upgraded to FINCAD Developer Version 8 for inclusion in their next release of kACE™, due for release later this year.

FINCAD Developer comes from FINCAD (formerly known as FinancialCAD Corporation), the industry standard provider of financial analytics for the valuation and risk management of financial securities and derivatives. FINCAD continues to innovate, bringing new products to market and implementing the newest state-of-the-art analytics methods as they become accepted for use in the financial marketplace.

The latest version of FINCAD Developer, Version 8, now enables developers programmatic access to over 1200 functions, covering most asset classes (fixed income, interest rates, inflation derivatives, equities, foreign exchange, credit derivatives, commodities and mortgage-backed securities) and many of the industry models required for valuation and risk assessment. All of these additions to FINCAD Developer Version 8 come from requests from FINCAD customers and reflect the changes that are taking place in the increasingly fast paced and innovative financial instrument related markets.

kACE is the industry leading price discovery and analytics solution housing FINCAD’s industry standard financial analytics. FINCAD’s financial analytics are used by over 25,000 professionals in 72 countries.

The need to accurately value financial instruments and to measure the associated risk factors continues to grow for thousands of companies. Regulators and investors, are both demanding more transparent disclosure of derivatives valuation. Kalahari and FINCAD contribute leading analytics, price discovery, financial engineering, market data, application development and outstanding service to help customers meet these demands.

Bob Park, President of FINCAD states, "Whether you lead an entire financial services enterprise, a trading desk, a risk management department, a settlement group or a corporate treasury or audit team, or perhaps you are an analyst or a software developer serving any of these groups, the level of complexity you face has never been greater than it is today. Continued financial market innovation, coupled with new regulatory and financial reporting rules guarantee it."

Kalahari has been deploying FINCAD’s analytics for over eight years and the main reason for selecting FINCAD was because its customers were already familiar with FINCAD as their analytics were widely accepted and utilised in the industry and therefore, tried and tested. Every single FINCAD function is available to every Kalahari customer. Some of the more common financial functions that Kalahari and their customers use are the yield curve functions, bond functions, commodity options, date handling functions and par swap functions.

Of the partnership, Gautam Dixit, Technical Director at Kalahari comments: "FINCAD’s Analytics have been applied consistently across functions. It has enabled our end user and developer customers to not have to learn every function from the bottom up. Unlike other financial analytics providers."

"FINCAD is the only provider that applies its functional model consistently across all financial functions. The functions covered have good drill-down characteristics. Basic functions are used to build more sophisticated ones, and both types are exposed. Therefore, Kalahari is able to offer customers use ready-made high level functions, without losing the ability to build an alternate model using the basic functions. It is an absolute must to offer customers a structured and easily implementable model." He continued.