Kamakura Launches Basel II Credit Model Testing Seminars

Hands-on Seminars Designed for Objective Model Evaluation

HONOLULU, April 25, 2003: Kamakura Corporation announced today it is launching a series of seminars for advanced practitioners designed to meet the credit model testing provisions of the proposed Basel Accords by the Basel Committee on Banking Supervision. The seminars will be led by Dr. Donald R. van Deventer, Kamakura Chief Executive Officer and author with his partner Kenji Imai of the new book from John Wiley & Sons Credit Risk Models and the Basel Accords now available on Amazon. Dr. van Deventer was named to Risk Magazine's 50 person Hall of Fame in December, 2002. The seminars will be given in New York, Boston, Los Angeles and Honolulu with locations in Europe and Asia to be scheduled at a later date. The seminars will be based on Kamakura's experience in credit model development and testing as a leading provider of the multiple models default probability service KRIS-cr.

"For two decades the performance of credit models has been shrouded in mystery, but the Basel Accords do not allow that practice to continue," said Dr. van Deventer. "The proposed Basel Accords require bankers not only to use sophisticated credit modeling techniques but also to be able to measure model performance consistently and objectively. This series of seminars is designed to assist experienced financial managers to do that in a manner that is practical, sophisticated, and consistent with the highest standards of financial research."

Participants in the seminars will use Credit Risk Models and the Basel Accords as a basic text and review test results on credit models using Kamakura's 1.9 million observation U.S. default data base and sample default probabilities from its reduced form, Merton-based, and hybrid credit models. For more information and an application for the seminars please see go to the Kamakura Corporation Training Session web site

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