LOMBARD RISK SYSTEMS LAUNCHES WEB BASED FIRMRISK COLLATERAL

London, October 22nd, 2002 – Lombard Risk Systems Ltd has announced the launch of FirmRisk Collateral, the collateral management application developed for financial and non-financial institutions.

FirmRisk Collateral manages all the major methodologies for supporting collateral management arrangements within the OTC Derivatives markets. FirmRisk Collateral covers standard industry documentation and can support any trades which might fall under an ISDA Master, and accompanying Credit Support Annex. FirmRisk Collateral is a web based application allowing clients cost-effective, global deployment and remote access through the Intranet or Internet.

FirmRisk Collateral has been designed to allow all sizes of organisations to manage their collateral management business effectively. John Wisbey, Chairman and Group CEO believes that the application has been developed with the hands-on user in mind. Wisbey commented, "With the vast combined practical experience acquired at investment banks, our highly skilled business and technology team have first hand experience of the procedures that are required to manage a collateralised portfolio. We designed the application so that it is easy to use and flexible, so that each user can define exactly what they need as quickly as possible".

As the number of institutions trading OTC products on a collateralised basis continues to increase, the need for specialised management systems continues to be highlighted. Spending on collateral management technology is expected to grow significantly in the next few years, with spending estimates reaching $134 million by 2005.

Lombard Risk Systems Ltd, part of the Lombard Risk Management group, see FirmRisk Collateral as being a key product within their Firmament product suite. Using a shared platform approach, it is now possible to run the collateral management process in conjunction with netting, trading and risk reporting.

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