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White Outsourcing to implement Milestone Group’s pControl for Unit Pricing

Sydney – 17 May 2006. White Outsourcing today announced the signing of an agreement to implement pControl as their unit pricing platform.

White Outsourcing will implement pControl to enable straight-through processing of its unit pricing services.

This aims to increase the scalability and efficiency of the business. Specifically White were seeking a solution which provides complete flexibility to cater for the varying needs of its diverse and growing client base and facilitate easy integration with a range of other systems.

Peter Roberts, Divisional Director of White Outsourcing said, “We needed a solution that would enable efficient growth of our business. As a third party administrator, we administer the products which our clients design, so the system needed to be completely configurable to cope with diverse client requirements. We
were impressed by Milestone Group’s approach and the level of automation and flexibility that pControl enables.”

pControl has become the defacto standard for unit pricing across the funds management industry and is unique in its approach to fully automating Unit Pricing and related functions, even across complex interfunding structures. pControl is able to fully automate the daily funds processing cycle including reconciliations, unit pricing, interfunding, rebalancing and unitised order management.

Commenting on the contract, Geoff Hodge, CEO of Milestone Group said, “We are delighted to have secured White Outsourcing as our most recent pControl client. While ongoing market focus on the overall quality of unit pricing continues to drive demand for pControl, Milestone Group’s attention also extends more broadly across fund accounting related processes. We remain focussed on contributing to industry efficiency by targeting business functions requiring higher levels of automation to manage risk and efficiency in the fund processing arena.”

White Outsourcing are confident that pControl’s ability to provide flexible, fully automated Unit Pricing functionality to their current and potential clients will significantly enhance their service offering and they will use pControl as a tool in providing their clients with a high quality, tailored and cost effective back office
solution.

Andrew Harrison, Divisional Director Investment Operations of White Outsourcing said, “We conducted an extensive internal review of our current and future requirements before choosing pControl. pControl will greatly improve our flexibility and service offering to the market. We held discussions with Milestone Group clients who have pControl in production and they gave us great feedback on pControl as a system and Milestone Group as a provider.