Alliance Includes Implementing and Marketing of Systems

To Combat Money Laundering and Fraud

Fairfax, VA – April 29, 2003 -- Mantas, Inc., a leading provider of behavior-detection technology for the financial services industry, today announced that BearingPoint, Inc. (NYSE:BE), one of the world’s largest business consulting and systems integration firms, has joined the Mantas Global Alliance Program. BearingPoint will work with Mantas on system implementation, marketing, customer support, and product development. Through this alliance, Mantas and BearingPoint will implement technology that can enhance profitability by reducing risk and developing business growth opportunities.

"In addition to the technology platform, clients need to have leading practices in place both on the compliance side and on the business opportunity side," said Simon Moss, CEO of Mantas. "The BearingPoint-Mantas relationship offers clients access to a team that can integrate, deploy, and maximize the benefits of the Mantas system across an entire enterprise, and do so on a global basis."

Current customers are using the Mantas technology to fight money laundering within banks and brokerages, protect against brokerage and bank fraud, for trading compliance, to assist in delivering effective execution for trading desks, and for other business purposes. The Mantas Behavior Detection Platform operates on an enterprise-wide basis, monitoring every transaction and account across a firm.

"Any single account or transaction can look perfectly normal," said Sarah Diamond, a managing director and the segment leader for Capital Markets with BearingPoint. "In order to detect the suspicious activity, a firm must be able to analyze events in context, identifying suspicious patterns of activity and hidden links between accounts. BearingPoint and Mantas can help clients evaluate what they need, then put the technology in place to do the job."

"Many financial services industry CIOs may be just realizing that USA PATRIOT Act compliance is mandatory, and their applications, service options, and time to respond are limited," said Al Passori, Vice President, Executive Directions, META Group, Inc. "The PATRIOT Act added new requirements for brokerage, insurance, and other industry groups and we predict only 40% of the CIOs in these newly impacted segments will achieve full compliance with fraud, audit, and money-laundering systems controls the second quarter of this year."

Mantas' behavior detection technologies are designed specifically to tackle tangled webs of complex behavior that underlie money laundering, fraud, stock market manipulation, and other challenging problems. In the case of money laundering, for example, the suspicious behavior may be spread over a number of deposits and across many accounts.

The Mantas platform solves this challenge through its use of such standard technologies as rule matching and text mining, combined with a series of proprietary and complex algorithms such as Link Analysis, which can find hidden relationships between accounts, and Sequence Matching, which can line up events in chronological order and find sequentially numbered monetary instruments and other suspicious patterns of activity.

Tom Burgess/Rod de St Croix, APCO UK for Mantas
+44 1628 898 007

John La Place
BearingPoint, Inc.
(212) 954-2463

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