IRIS FINANCIAL SYSTEMS BOOSTS LONDON DEVELOPMENT TEAM

· Senior technical resources hired to support local and global projects
· Increased demand for Component Services Architecture

London, 18 September 2002 - Iris Financial Systems, a leading provider of tailored, component-based financial software solutions, recently appointed new technical experts to support the implementation of its Component Services Architecture (CSA). Since its launch in April, demand for the CSA from long-standing and new clients has increased significantly.

The CSA enables Iris Financial Systems to build unique, sophisticated and tailored trading and risk management solutions for global financial institutions. Based on Sun's Java 2 Enterprise Edition (J2EE) development environment, the CSA uses component technology to engineer solutions to match customers' trading strategies and business requirements.

Dennis Pilsworth and Guy Ellis join Iris Financial's London development team and will play a crucial role in ensuring the development and deployment of high performance trading and risk management solutions for global, high volume financial institutions.

With over ten years experience each, Pilsworth and Ellis bring extensive IT, project management and domain experience to Iris Financial Systems. Pilsworth previously served as a technical architect and project manager for Dresdner Kleinwort Wasserstein. Prior to this, Pilsworth worked as a consultant for both IBM and Accenture. Ellis joins Iris Financial Systems from Pareto Partners where he was a senior developer. Prior to Pareto, Ellis was a consultant for NCI Ltd., responsible for developing front office systems for clients trading in money markets.

Steve Colwill, Development Director, Iris Financial Systems, comments, "Since we launched the CSA there has been strong demand globally from a range of organizations that need specialist solutions for a range of asset classes. Pilsworth and Ellis will play a key part in engineering the CSA to match customers' unique business functionality requirements. They have the finance knowledge and technical expertise to build robust, high performance trading and risk management solutions for the most sophisticated trading environments. This announcement reaffirms our commitment to hiring the best resources in the market and to delivering the best solutions for our customers."

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