DePfa Bank PLC Completes Kamakura Risk Manager Installation with XML Data Interface

HONOLULU, July 8, 2002-- Honolulu-based Kamakura Corporation announced today that DEPFA Bank Plc. has completed its installation of Kamakura Risk Manager (KRM) and is actively using the KRM suite for market risk management on a portfolio of more than 65,000 transactions, including complex derivatives. The DEPFA Bank licensed the full Kamakura Risk Manager software suite, including its credit risk, market risk, net income simulation and transfer pricing software, late in 2001. DEPFA Bank is a specialist international financial institution that caters to public sector entities. DEPFA is the second major bank in Europe to license Kamakura Risk Manager software.

Systems integration on the project was done by IPS-Sendero, a world-wide distributor of Kamakura Risk Manager products. As part of the installation, IPS-Sendero completed an XML interface to the derivatives front and back office system offered by Summit Systems and an interface to the SAP R/3 system used by DEPFA for non-derivative assets and liabilities.

The Kamakura Risk Manager installation at DEPFA has been audited by one of the four largest auditing firms in the world and was officially accepted by DEPFA on June 4, 2002.

"The Kamakura Risk Manager system was selected by DEPFA after a search that included several risk management vendors," said Alejandra de Gaustad, head of Market Risk Control for DEPFA Bank Plc. "Kamakura Corporation and IPS-Sendero have worked tirelessly to complete the KRM installation successfully and under tight time deadlines. The system is fast and relatively easy to install; we transferred all of our data into KRM in just four months. Its advanced functionality will allow us to implement our strategic risk control plans and to be well ready for Basle II. We also look forward to working together with Kamakura and IPS-Sendero on the implementation of the FAS133 module."

"DEPFA Bank has one of the most complex derivatives hedging portfolios in Europe, and its operations are world-wide," said Dr. Donald R. van Deventer, President and Chief Executive Officer of Kamakura Corporation. "Kamakura, IPS-Sendero, and the hard-working staff at DEPFA have set a new European standard for an efficient installation of the world's first system that fully integrates credit risk, market risk, asset and liability management, and performance measurement. We too look forward to working with DEPFA in the years ahead to create substantial shareholder value for the bank."

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