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Actuate Recognised as Top Innovator by Bank Technology News

Actuate Corporation (NASDAQ: ACTU), the leader in Business Intelligence, Performance Management and Reporting Applications, today announced the company’s President and CEO, Pete Cittadini, has been recognised as one of The Innovators 2007 by Bank Technology News. In its annual ranking, BTN profiles the 25 most advanced people, companies and technologies whose contributions to the industry are redefining how financial businesses operate. In addition to being recognised in this year’s ranking, Cittadini will be among 10 individuals inducted into The Innovators’ Hall of Fame at an awards dinner celebrating the honorees at the Wynn Las Vegas on Nov. 12.

Since its founding in 1993, Actuate has served the information application needs of the world’s leading banks including four of the top five US-based global banks and 22 of the top 25 financial services providers in Europe. Under Pete’s leadership, Actuate has maintained its reputation for excellence in financial services by keeping pace with the changing face of banking and the demands of retail and corporate banking customers for richer, more personalised online services that make their lives easier. By continuously innovating to meet the needs of its customer base, Actuate supports a common drive toward generating greater customer value through initiatives around transparency, regulatory compliance and better customer service. Today, banks rely on Actuate to deliver reports that help them meet existing and emerging corporate governance standards.

In August 2007, Pete unveiled a new business model for Actuate – a hybrid between a traditional enterprise software company and open source. This corporate strategy paved the way for open source adoption and accelerated this charge across all industries including financial services. By offering open source technologies to build more robust reporting applications, Actuate is pushing the envelope for the types of products and solutions banks can provide to customers. In addition, Actuate’s open source model lowers financial institutions’ total cost of ownership and increases the return for Business Intelligence and enterprise reporting applications they deploy.

“I’m honoured to have been recognised for our continued efforts to revolutionise the way banks service their customers and provide significant differentiators in an extremely competitive industry,” said Pete Cittadini, CEO of Actuate. “This accolade is another example of Actuate’s commitment to providing the solutions that help financial institutions drive customer value.”