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Rainier Investment Management Chooses Charles River IMS

Burlington, MA, London, Melbourne and Singapore – June 21, 2006 — Charles River Development, a leading provider of financial software and services to the global investment management community, today announced that Rainier Investment Management (Rainier) has selected the Charles River Investment Management System (Charles River IMS) to support its front- and middle-office investment operations. Rainier, based in Seattle, Wash., is an independent investment advisory firm managing approximately $10 billion in equity and fixed income assets.

Glenn Haber, president & CEO of Rainer Investment Management stated: “We conducted an extremely disciplined selection process of order management systems and due to Charles River’s proven market experience and ability to deliver flexible, easy-to-use, and technically advanced software we chose Charles River IMS. Feedback from our portfolio managers, compliance staff and especially our traders was overwhelmingly positive when reviewing Charles River IMS. The real-time data feeds, features in the sophisticated portfolio modeling module, extensive support for electronic equity and fixed income trading capabilities, and the integrated connectivity to our trading partners put Charles River IMS on top.”

Charles River IMS is a comprehensive software suite for all security types that facilitates portfolio management and modeling (Charles River Manager), order management and electronic trading (Charles River Trader), real-time compliance monitoring (Charles River Compliance), and the centralized management of trade matching, confirmation, and settlement workflow (Charles River Post-Trade). Integrated, global FIX trading connectivity and services are available through the Charles River Network.