SK Life Insurance of Korea Licenses Kamakura Market Risk System; Unisys Korea Acts as Integrator for Kamakura's 10th Korean Client

HONOLULU, February 18, 2003: Kamakura Corporation announced today that SK Life Insurance of Korea has licensed the Kamakura Risk Manager market risk system. SK Life Insurance, one of the largest life insurance companies in Korea, becomes Kamakura's 10th Korean client and Kamakura's fourth insurance industry client in the country. Kamakura's other Korean clients include three of the six largest property and casualty insurers in the nation. Six of the largest insurance companies in Asia now use the Kamakura Risk Manager system. Unisys Korea will act as systems integrator for the project, its ninth Kamakura Risk Manager installation project in Seoul.

"Kamakura is very proud to be selected by SK Life Insurance Company, which is committed to leadership in its industry and in the risk management arena," said Warren Sherman, President and Chief Operating Officer of Kamakura Corporation. "Kamakura's fully integrated credit risk, market risk and asset and liability management solution offers SK Life the ability to manage risk across the organization in a comprehensive way in the years ahead."

"Kamakura has added 10 clients in Korean in only three years," said Dr. Donald R. van Deventer, Kamakura Chairman and Chief Executive Officer. "The sophisticated approach to risk management in Korea after the Asia crisis and the strong reputation Kamakura has world-wide have been the driving forces in our success. Unisys has done a wonderful job in delivering successful installations of the Kamakura Risk Manager system, and we are very pleased with their professionalism in the risk management IT arena."

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