Financial Technologies International (FTI) Opens Development Center in Linz, Austria

Expanding Amid Austria’s Hotbed of Software Engineering Talent

New York, NY - May 10, 2000 - Financial Technologies International (FTI), pioneer of next generation Internet-based financial services technologies for real-time information announced today that it has opened an Austrian Development Center in Linz, a hot bed of high caliber software engineering talent and one of the world’s top 10 cities for business training, according to the 1999 World Competitiveness Report.

"Demands for real-time technologies to support market challenges, such as e-commerce, T+1 settlement, decimalization and global straight-through processing, have impacted the demand for our products and FTI has seen tremendous growth. Over the past year, FTI has increased core revenue growth by 72 percent and opened two new offices in Boston and Sydney," states Predrag Dizdarevic FTI’s chief executive officer and president. "Our key objective to establish Development Center Linz is to expand our access to high quality and productive software engineers to support this growth. This caliber of talent will allow us to continue to apply the best minds to FTI's research and development efforts."

Heading the FTI Austria Development Office is Mr. Bernd Scholze as Development Center Manager. With 10 years experience in high-end software engineering, both his peers and FTI management regard Mr. Scholze as a seasoned professional. Mr. Scholze reports directly to Scott Condron, FTI’s senior vice president responsible for research and development.

The new FTI Austrian Development Center is located at Plus City Business Center, 4066 Pasching, Austria. New phone and fax numbers are 43 (0) 7229 76656-0, 43 (0) 7229 76656-99, respectively.

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