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Reveleus selected by Lloyds TSB’s Securitisation Team to meet Basel II Compliance, Implementation to align with FSA’s Securitisation directives

Mumbai, December 14, 2005 - Reveleus™, a business of i-flex® solutions (Reuters: IFLX.BO & IFLX.NS) and a global provider of analytical applications for the financial services industry, today announced that the Securitisation team at Lloyds TSB has selected the Reveleus Basel II Solution to meet the capital adequacy requirements as prescribed in the Basel II Accord. The solution’s implementation will bring policies and methodologies into accordance with the standards outlined by the Financial Services Authority (FSA).

Reveleus Basel II Solution’s comprehensive calculation engine will ease the complexity of adopting the Internal Ratings Based Approach for Credit Risk. The solution will integrate multi-jurisdictional data from the Securitisation team and apply capital adequacy calculations which will roll up into Lloyds TSB’s corporate Basel II framework. The Reveleus Basel II solution will also support the requirements of complete supervisory reporting and disclosure.

The Securitisation team at Lloyds TSB is an established and active arranger and structurer, which offers the securitisation product to its clients and non-clients in the US and Western Europe. Securitisation broadly involves financing a specific portfolio of assets on a non-recourse basis.

"We chose Reveleus because they demonstrated a thorough understanding of the capital adequacy calculations needed for complex securitized products which we offer our clients," said Mr. Mark Escott, Director, Head of Securitisation. "They also met our requirement of a company which shares in our commitment to meet the disciplined standards set by the Basel II accord and the FSA."

Commenting on the win, S. Ramakrishnan - CEO of Reveleus, said, "We are thrilled to have the opportunity to enhance our current relationship with Lloyds TSB and assist them to meet the challenges of Basel II. Lloyds TSB’s selection of the Reveleus Basel II solution is indicative of the deep functionality needed in the specialized Securitisation business and our capability to grow with the evolving risk management practices."