Redwood Corporation Acquires the Assets of Vision From COR Financial Solutions Ltd.

BOSTON, April 17, 2003 — Redwood Corporation, a provider of global treasury software solutions announced that it has acquired the business and assets including the intellectual property of the Vision treasury management system from COR Financial Solutions Ltd., a London based provider of banking, securities and asset management software solutions. Vision is a Windows based front to back office treasury software solution targeted at global banks. It has a worldwide client base, many of whom have been using the product since it was first created.

Beoleong Lim, President of Redwood Corporation said:
"We are extremely pleased with this acquisition which provides us with a global presence in the treasury market space. Our first objective is to cement and further enhance our relationships with the existing users of Vision. It is with this strong partnership with our clients that will enable us to be a dominant force in the market place. Vision is an extremely robust system with rich functionality to serve the treasury community".

Chris Brooke, Business Development Director of COR Financial Solutions said:
“COR believes this a very positive step for Vision, its existing customers and the position of Vision in the marketplace. Vision is a functionally rich and technologically strong product that offers unrivalled levels of STP to global treasury managers. Redwood is well placed to take the product forward”.

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