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IBSnet achieves SWIFTReady Gold status for 8th consecutive year

Hoboken, New Jersey – March 5, 2006 – Surecomp, a leading provider of global trade solutions for the financial services community, today announced that IBSnet, its Windows®-based trade finance banking system has achieved SWIFTReady Gold status for the 8th consecutive year.

SWIFT annually recognizes vendors which supply third party software solutions based on SWIFT compliance, their efficient integration with the SWIFT environment, and their contribution to improving industry STP.

SWIFT has clear and specific criteria that are linked to the Gold and Silver label for each of the market segments. These criteria are designed to reflect the capability of a product to provide automation in a SWIFT environment. An additional requirement that applies for all markets is that the labeled product needs to be used in a live environment by at least five customers.

Commenting on the award of SWIFTReady Gold status to IBSnet, Joel Koschitzky, Surecomp’s Chairman and CEO said, “I am delighted that IBSnet has been honored for an 8th consecutive year. This achievement directly relates to Surecomp’s commitment of ensuring that IBSnet retains its #1 position as the very best solution in its class and to the strong support that IBSnet customers receive.”