SciComp Announces New Distributor in Europe

CANdiensten signs on to become a distributor of SciComp's derivatives pricing technology

Austin, TX - September 5, 2002 - SciComp Inc, the leading provider of automated derivative pricing technology, announced today that CANdiensten, a specialist provider of mathematical software solutions headquartered in Amsterdam, has become a distributor of SciComp's products in Western Europe.

SciComp's financial software suite, SciFinance, automatically generates custom code from concise specifications of derivative structures -- pricing without programming. The software decreases the turnaround time for derivative model development and allows analysts to easily explore and refine new algorithms and complex options. The SciXL option automatically integrates SciFinance-produced pricing models into Microsoft® Excel spreadsheets.

"We are very excited to add SciFinance to our product line," said Dick Verkerk, President of CANdiensten. "Our business has continued to grow in the area of finance and SciComp's products fit extremely well with customer needs in pricing derivatives. This is a natural alliance between our companies with our expertise in mathematical software since 1988 and SciComp's preeminent financial technology."

Gose Fischer, Vice President of Sales at CANdiensten, said the company has already started offering courses in how to use SciFinance to increase productivity and profits in derivatives pricing. "We want to make it easy for potential users to get experience with SciFinance and see this powerful echnology in action."

SciFinance enables financial analysts to automatically generate complex option pricing codes without manual programming. This technology produces Monte Carlo and PDE codes that often run faster and are more accurate than traditional methods. The unique feature of SciFinance is that users get source code for their models rather than a black box.

David Johansen, Vice President of Sales & Marketing at SciComp said, "We are very happy about CANdiensten representing SciComp's products in Western Europe. CANdiensten has a long history of providing cutting edge information and solutions to their client base and has the expertise necessary to represent our products in the technically demanding derivatives industry."

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