Cicada Risk and American International Group, Inc. Sign Reference Data Outsourcing Agreement

16 August 2002

May 22, 2002 – New York – Cicada, the provider of financial information distribution systems and business solutions, today announced an agreement between its subsidiary Cicada Risk Inc. and American International Group, Inc. (AIG) for the integration, cleansing and feeding of multi-sourced financial data to AIG’s global reference databases used to support its risk management models and applications.

Cicada Risk will deliver a comprehensive solution tailored to AIG’s data requirements for their risk applications, utilizing the company’s flagship ComposerTM data management and distribution technology, combined with operations and data management services, as well as Cicada’s proprietary data cleansing technology and processes. The company’s team of experienced financial data management and analysis professionals provides comprehensive data services to include quality control, data cleansing, verification, support, integration, data source management and source optimization.

The multi-year agreement covers comprehensive outsourcing services to incorporate data management and distribution technology; operations management services; support; data source management; and data quality control, validation, cleansing and integration.

"Clean, high quality data is the lifeblood of high value applications such as risk management and settlement. Yet clearly no data source is perfect, and intervention has become a necessity. Cicada is pleased to be chosen by AIG to provide a comprehensive solution, which leverages our proven Composer technology with ongoing services from our team of data analysis, customer care and operations professionals," said Hubert Holmes, President of Cicada Risk. "Uniquely, Cicada provides not only the data management infrastructure but also the data validation and cleansing services which AIG deemed important as they strive to perfect the data feeding their risk management applications."

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