Press Release - Bonaire Software Solutions, LLC

BOSTON--(BUSINESS WIRE)--July 16, 2002--FleetBoston Financial (NYSE:FBF)
today publicly announced the general availability of Fleet's online InvestmentLink(SM) application for institutional customers. InvestmentLink offers online access to investment holdings, current rates, deal capture, transaction review, personalization, and straight through processing. InvestmentLink is already demonstrating a win from every angle: enhanced customer service, reduced costs, and expanded revenue. FleetBoston developed the application in-house and subsequently partnered with Bonaire Software Solutions, LLC, a services and applications provider for the financial industry, to supplement development and complete the application interface in order to meet an aggressive project timeline. FleetBoston completed a pilot
test in December, 2001 and has seen some remarkable results in the first few
months of full-scale operation including greater than a 300% increase in participating accounts and 31% of all institutional mutual fund transactions are now executed by Fleet's customers through InvestmentLink.

InvestmentLink is an online trade order delivery system for Mutual Funds and
Bank Liabilities that allows some of FleetBoston's largest commercial, government, industry and small business clients to access rates, view positions, and enter trades for immediate (straight-through) processing. Inherent in the application design is a fully automated trading process, or Straight Through Processing (STP), whereby the client initiates entry of the trade ticket, which is then delivered electronically through clearance. This eliminates multiple in-house entries of the ticket and dramatically reduces the possibility for errors. The Mutual Fund and Bank Liability instruments
are well suited for STP in that they typically show high transaction volume
with relatively low process complexity.

The application represents a significant advancement for FleetBoston customers as demonstrated by the fact that, in only a few short months, greater than 15% of the FleetBoston Fixed Income Group's institutional customer base have signed-on with InvestmentLink. While the adoption rates have been gaining dramatically, just as compelling is that the utilization rate has exceeded FleetBoston's best expectations as illustrated by the fact that nearly 100% of the users access their account at least once per day.

"We are focused on answering the customer demand for online transaction
processing and self service. InvestmentLink is one of the many ways we are making it easier for the customer to do business with FleetBoston. Additionally we are seeing very tangible internal benefits from the straight through processing InvestmentLink provides. The combination of customer adoption and operational benefits gave us a measurable Return on Investment the moment InvestmentLink was launched," states Doug Jacobs, Treasurer of Fleet Boston.

Dean Richmond, Senior Global Markets and Treasury Technology Manager states,
"InvestmentLink provides shining testimony to how effective and successful a project can be through collaborative teamwork between FleetBoston's Treasury Solutions business unit, internal technology and operations groups."

Christopher John, Principal and CEO of Bonaire Software Solutions asserts,
"Clearly, FleetBoston recognized they could cooperatively leverage technology in order to streamline their business process and operations to reach a larger customer base. This type of project is ideal for Bonaire because it demands intimate knowledge of the business requirements, a seasoned team of senior-level technology professionals, and a proven process that fuses them together to complete the project on time, and on budget. We were pleased that we
could help Fleet get InvestmentLink to market in a matter of months from the
project initiation, and look forward to working with them again in the near future."

Currently, InvestmentLink services a growing base of Fleet's institutional
customers and focuses primarily on Mutual Funds and Bank Liabilities. Future plans include expanding the targeted client base through incorporating functionality such as safe keeping positions, transaction history, bond trading, automated monthly statements, e-mail confirmations and multi-currency capabilities.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development