INVESTORS BANK & TRUST GOES LIVE WITH SPECTRUM

Investors Bank & Trust Company ("Investors") of Boston, Massachusetts, has implemented Financial Software Systems' Spectrum Treasury System to manage all aspects of its foreign exchange business. Investors' primary business is the provision of asset administration services to the financial services industry. Investors' services include global custody and multi-currency accounting, mutual fund administration, securities lending, and foreign exchange dealing. Investors is a dealer in over 70 currencies.

Spectrum provides to Investors a complete system to manage its trading activities in FX spot, forward and swap contracts. Investors has also licensed Spectrum to manage OTC FX options and interest rate swaps. Investors is using Spectrum for front-office deal capture, risk and limit monitoring in the middle-office, and for back-office transaction processing and nostro account management.

As a bank specializing in asset management and administration services, Investors has a large number of fund management clients. Spectrum provides a very flexible real-time limits solution that allows Investors to analyze and monitor credit exposures at a number of levels, including at the fund manager, fund group, and individual fund levels. In addition, through a number of flexible real-time blotters and reports, Spectrum gives Investors the ability to closely monitor the profitability of its clients.

As part of the implementation project, Financial Software Systems enhanced Spectrum's nostro account management by improving its real-time monitoring and funds transfer capability. Designed to be easily integrated with other systems, Spectrum has been linked to IntraNet's Money Transfer System (MTS), Investors’ SWIFT provider.

Spectrum has been installed at Investors on a Windows 2000 platform utilizing Microsoft's SQL 2000 database server. Spectrum is also available on Microsoft's .NET platform and with the Sybase 12 database server.

Financial Software Systems is headquartered in Willow Grove, Pennsylvania, with sales and support offices in London and Singapore. Financial Software Systems produces foreign exchange and interest rate risk management software for banks, broker-dealers, fund managers, and corporations.

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