VELOCITY SYSTEMS ANNOUNCES LAUNCH OF VERSION 3.1.

Velocity Systems today announced completion of Version 3.1 of its V-Banking
Platform. V-Banking’s enhanced functionality provides a more potent Dealer
interface (DQC) integrating FX transactions, FX orders and Money Markets
transactions into a single integrated desktop application. Jon Hilliard, Group CTO pointed out, "with these additions of functionality, the V-Banking Platform now provides as much, if not more functionality than any FX or MM transaction system in the world, and because we've taken the time to maintain Velocity's peerless flexibility, our ease of integration and deployment through contemporary design remains market leading."

In addition to significant functional enhancements in both FX and Money Market
areas, the primary benefit of the upgrade is the speed and ease with which sell
side participants can roll out and administer product diverse and geographically
disparate Dealers and Dealer groups.
The V-Banking Platform, which is marketed through a variety of local partners
including Moneyline Telerate, Fininfo, CSK and IBM, is renowned for its speed and ease of integration.

The company is moving aggressively to complete integration with technical
partners, multi-bank portals FXall and Atriax, expected to be complete within the next few months. A simultaneous development of a more scalable ASP
deployable version has also commenced.

Greg Surman, Global Sales Director remarks "The demand curve six months ago
showed a surge of interest for a low barrier, plug-in solution, particularly among smaller regionals. We expect that this trend will continue, in part due to the continuing validation of the value proposition as it moves further down from the larger early adopters. Many of the larger institutions will still likely favour a fully integrated in-house solution. Velocity will provide either, and according to my comparative studies, faster and more cost efficiently."

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