Prominent Risk Expert Leonard Matz Named Kamakura Senior Vice President

HONOLULU, June 23, 2002--Risk management software and information firm Kamakura Corporation announced today that Leonard Matz, well-known risk management expert and Pprincipalchief executive officer of Neshannock Financial, has joined Kamakura Corporation as a senior vice president. Mr. Matz has been a member of the North American Asset and Liability Management Association, the pre-eminent financial risk management association for North Americansophisticated banks, since 1989.Mr. Matz is the author of Liquidity Risk Management, perhaps the best known book in that facet of risk management industry. He has also written 43 other books and 17 training manuals. At Kamakura Mr. Matz will advise Kamakura Risk Manager software and information clients world-wide on the fully integrated analysis of credit risk, market risk, liquidity risk, asset and liability management, and performance measurement. Kamakura is the only risk information and software vendor in the world which can provide this comprehensive understanding of risk management with a fully integrated software solution.

"Leonard Matz is one of the most respected experts in the risk management industry, and it is an honor to have him as a member of the senior management team at Kamakura Corporation" said Dr. Donald R. van Deventer, President and Chief Executive Officer of Kamakura Corporation. "Leonard is one of the few people in the industry with in-depth experience in credit risk, asset and liability management and liquidity risk. His comprehensive view of total enterprise wide risk management makes him a valued and trusted adviser to Kamakura’s risk information, software, processing and consulting clients."

Prior to joining Kamakura, Leonard was the founder and a principal in the firm of Neshannock Financial for nine years. In that capacity, Leonard worked as an author, trainer and consultant. He is also the author of numerous financial training manuals including the Banker’s Self Paced Guide to Asset and Liability Management. He is a frequent speaker at industry conferences sponsored by Risk Publications, the Bank Administration Institute, and the National Association of Federal Credit Unions. Mr. Matz has given presentations at bank examiner training programs of the Office of the Comptroller of the Currency. He was chairman and moderator of the 1999 and 2002 Risk training conferences on modeling, measuring and managing liquidity risk in New York City and London. His consulting work has included international bank liquidity and asset and liability management consulting in Argentina, Canada, Mexico, the United Kingdom and South Africa.

Prior to founding Neshannock Financial, Mr. Matz spent 16 years as a bank officer for three different companies. Among other roles, he served as Executive Vice President and Chief Operating Officer of a community bank, as Senior Vice President in charge of credit risk management for Equibank, and as Senior Vice President in charge of funds management for Michigan National Bank of Detroit and Michigan National Corporation.

Before becoming a banker, Mr. Matz served for 5 years as a bank examiner with the Federal Reserve Bank of Cleveland. He received a B.A. from Case Western Reserve University in 1973 with a double major in Economics and Political Science and with additional studies in Economics at the University of Lancaster, Lancaster, England.

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